Economies are much like a river—constantly flowing, adapting to their environment, and reshaping the landscape over time. Just as a river never remains static, so too do economies evolve, influenced by internal and external forces. Nowhere is this more apparent than in the development of Special Economic Zones (SEZs) across Africa.
These zones, designed to attract foreign investment and stimulate economic growth, are pivotal to the continent's diversification efforts. In Botswana, the recent launch of the Airport City Special Economic Zone is a prime example of this transformative potential, aimed at fostering industries such as diamond beneficiation, pharmaceutical production, medical devices, and logistics services. As a platinum sponsor of this initiative, Stanbic Bank Botswana is committed to playing a crucial role in this transformation, that of financiers and catalysts for growth.
We have been financing dreams in Botswana for over 30 years, operating with a purpose that resonates deeply—“Botswana is Our Home, We Drive Her Growth.” This message reflects more than a commercial statement; it encapsulates a dedication to fostering sustainable economic growth that benefits not only our clients but the entire country. As part of Standard Bank Group, the largest bank on the African continent by assets, we have supported infrastructure projects, financed SMEs, and preserved wealth for millions. We are deeply rooted in Africa’s growth narrative, and through our extensive presence in 20 sub-Saharan markets and five global financial centers, we are well-positioned to drive economic development in SEZs like Airport City.
So why Special Economic Zones?
For a country like Botswana, historically dependent on diamonds, the need for diversification is critical. We see this in Government’s own diversification strategy. SEZs offer a launchpad for new industries, driving export-led growth while encouraging small, medium, and micro enterprises (SMMEs) to thrive through backward and forward linkages in the economy. As financiers, we recognise the immense potential of SEZs to spur economic transformation and industrialisation, making them an attractive proposition for both local and international investors.
But beyond the surface, the question remains: How can we truly drive private-led, inclusive, and sustainable economic transformation through SEZs? The financial sector, particularly banking institutions, plays an integral role.
At Stanbic Bank, we believe our long-term success is tied to the wellbeing of Botswana. As a financial institution, our responsibility extends far beyond the provision of products and services. We are here to support the nation’s future, creating the conditions necessary for sustainable economic growth through a clear and purpose value creation strategy and acting as catalysts for change.
The complexity of Botswana’s economic challenges requires more than just funding - it demands bold, decisive leadership, and collaboration across sectors. As financiers, we are well-placed to facilitate this. The banking sector has a long history of collaboration in delivering syndicated projects, both in Botswana and across Africa. These collaborations set a precedent for how industries can unite to meet complex challenges, particularly in SEZs.
However, funding is just one part of the equation. Stanbic Bank offers a broad range of financial solutions designed to support industries across SEZs, from corporate and investment banking to advisory services, risk management, and wealth creation solutions. Yet, beyond these financial offerings, there is a need for human capital development, innovation, and a culture of collaboration within and across sectors. These elements are crucial to building a sustainable, export-led economy that can compete on the global stage.
A shared vision is key. As we look to the future, Botswana must diversify beyond diamonds, a sector that, while still vital, is facing a declining trend. The Airport City Special Economic Zone is an essential step in this direction, but to truly succeed, we must ensure that SEZs create opportunities for SMEs, promote innovation, and drive the development of high-skilled industries. The banking sector is not only ready but eager to finance this next phase of Botswana’s growth.
Our commitment as financiers goes beyond profit - we are here to drive the inclusive and sustainable economic transformation that Botswana needs. This requires us, alongside government and other private sector players, to foster a culture of innovation, bold leadership, and collaboration. At Stanbic Bank, we believe that every business leader shares in the collective responsibility to create a future where Botswana is not only resilient but thrives in a diversified economy.
The future of SEZs in Botswana, and across Africa, rests in the collective efforts of all stakeholders. As financiers, we are uniquely positioned to drive growth, but this requires collaboration at every level - from Government policy that creates an enabling environment, to private sector partnerships that fuel innovation and industry growth. The Airport City Special Economic Zone offers a prime opportunity for this collaboration, and we at Stanbic Bank are proud to be at the forefront of this effort.
In the words of David Rockefeller, “Success in business requires discipline and hard work. But if you are not frightened by these things, the opportunities are just as great today as they ever were.” The opportunities for Botswana are vast, just as the force and the relief of any mighty river we may liken our economy to. Through strategic investments, innovative financial solutions, and a commitment to inclusive growth, we can unlock the potential of SEZs and drive Botswana’s economy beyond diamonds.
We are ready to invest in Botswana’s future - are you?
By Chose Modise, Chief Executive Officer, Stanbic Bank Botswana