Masisi re-affirms electoral promises
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The newly elected President Mokgweetsi Masisi, has re-affirmed the promises he made during campaigning, promising to do whatever necessary to turn around Botswana’s fortunes. When giving acceptance speech after being sworn in for the second time, as Botswana’s fifth President, he said job creation remains a priority.
Masisi in prioritising job creation, his government will ensure the creation of meaningful and sustainable jobs by promoting public private partnerships with local and foreign investors in some of the key sectors of agriculture, mining, tourism, manufacturing, electronics, pharmaceuticals as well as research and development amongst others. “Through these sectors as well as the arts, the creative industry and sports, there is enormous potential for the creation of thousands of jobs for Batswana,” he said.
Masisi, who first became President in April 2018, said his government is also in negotiations with Forbes to host the 2020 Under 30 Summit in Gaborone, as part of the President’s Initiative. It will be the first time that the Forbes Under-30 Summit will be held in Africa. “The event brings together at least six hundred of the world’s most elite entrepreneurs and game changers. They will be 200 Africa best, 200 World Best and Botswana Best,” Masisi indicated.
“The Summit presents yet another opportunity not only for the young entrepreneurs in Botswana to learn from others and grow their businesses but also explore more ways to creating jobs for the youth.” Initiatives such as these, according to Masisi, are aimed at producing commercially viable and high value products and services, targeted at the export market.
“I say this cognisant of the fact that, creating a conducive and enabling environment for the private sector to grow is key to our economic transformation and growth. This will be underpinned by Government’s facilitation through the ease of doing business reforms,” he stated.
He said a number of policy and legislative reforms that have been introduced, were primarily aimed at creating a favourable environment for the private sector to thrive and grow.
Government will furthermore leverage on the Economic Diversification Drive (EDD), Masisi said to give citizens an opportunity to set up industries to empower them and in turn create the much needed jobs for our people. “In order to implement our economic diversification and the citizen economic empowerment initiatives, Government will enact legislation to enforce compliance by relevant institutions including the private sector,” he said.
“This is why I am happy to announce that the EDD strategy is being reviewed to close the existing gaps and help us to achieve in full, the goals of the Citizen Economic Empowerment Programme.” Masisi has also made remarks on corruption, a subject which formed core of his campaign message during the battle for power. “We cannot hope to improve service delivery nor achieve any of our national objectives if our institutional frameworks are not robust, transparent, accountable and free from corruption.
“I have fought against the menace of corruption since ascending to the Presidency and it is my intention to continue to do so. I therefore wish to emphasise that my Government will put in place measures and mechanisms, through the application of best practices of good governance to ensure that corruption is defeated.” Masisi said following the passing of law on Declaration of Assets and Liabilities will result in the creation of Ethics and Integrity Directorate is being established.
“In the same vein, I would like to reiterate that I am committed to the rule of law in this country, as that would enhance confidence and send message to all of us that the law must be abided or face consequences of non-compliance,” he affirmed. He said as part of his Government’s efforts to deepen the spirit of therisanyo, Government is committed to a comprehensive review of Botswana’s Constitution which will take stock of the changed social, political and economic landscape over the last fifty three years.
“The engagements and consultations necessary to start the ball rolling will be initiated soon after the full formation of my government. I remain resolute in my commitment to create a more inclusive Botswana,” he said. Masisi, who is expected to appoint his cabinet on Tuesday, also indicated that Botswana has experienced high incidences of human-wildlife conflict particularly relating to elephants due to their significant increase in population.
“This largely reflects the success of our conservation strategies, where for example, approximately 40 percent of Botswana’s land mass in the form of national parks, game reserves and Wildlife Management Areas (WMAs), is currently set aside for wildlife conservation,” he said.
“However, despite this land reservation, elephant population has increased beyond the capacity of the game reserves to encroach into human settlement areas and hence the conflict.
“My government nevertheless, will continue to commit to outcomes that will set the tone for conserving and managing our wildlife, and elephants in particular, while ensuring that we achieve sustainable benefits through their contribution to rural livelihoods and tourism growth. Citizens will play more meaningful and economically empowering role as we diversify our tourism base,” he said. Masisi also committed to transform education, improve health, maintaining a good foreign policy as well as fighting violence against women and children.
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BTC launches the 3rd Francistown Marathon 2024 and handover proceeds to the 2nd Francistown Marathon beneficiaries
Botswana Telecommunications Corporation Limited (BTC) has announced that its 3rd Francistown Marathon will be held on Saturday 20th April 2024 at Obed Itani Chilume Stadium in Francistown. The BTC Francistown Marathon is officially recognised by World Athletics and a Comrades Marathon Qualifier will offer race categories ranging from 42.2km, 21.1 km, 10km, 5km fun run, 5km peace run for children and has introduced a 5km and 10km categories for wheelchairs athletics.
BTC also used this opportunity to announce beneficiaries who received donations from proceeds made from the 2nd BTC Francistown Marathon that was held on April 23rd 203. BTC donated a play area, plastic chairs and wooden tables for pupils worth a total of thirty eight thousand, one hundred and three pula, fifty thebe each (P38, 103.50) to Monarch Primary School, Tatitown Primary School, Mahube Primary School and Gulubane Primary School. Ditladi and Boikhutso clinics each received a donation of benches, television sets and 10, 000 litre water tanks worth thirty seven thousan, eight hundred and ninety eight pula (P 37, 898.00). Additionally, BTC also donated seventy thousand pula (P70,000.00) to their marathon technical partner, Francistown Athletics Club (FAC) which will be used for daily operations as well as to purchase equipment for the club.
The BTC Francistown Marathon aligns seamlessly with BTC’s corporate social investment programme, administered through the BTC Foundation. This programme is a testament to BTC’s dedication to community development, focusing on key areas such as health promotion. The marathon, now in its third year, not only promotes a healthy lifestyle but also channels all proceeds to carefully chosen charities as part of BTC’s commitment to impactful and sustainable projects.
Speaking at the launch, the BTC Managing Director Mr Anthony Masunga stated that the marathon underscores BTC’s commitment to community upliftment and corporate social investment. He stated that “the annual event which has been in existence since 2016, having taken a break due to the covid and other logistical issues, is instrumental to the economic upliftment of the city of Francistown”. He congratulated all the beneficiaries for having been nominated to receive the donations, adding that “the donation of proceeds from the 2023 marathon aims to highlight BTC’s commitment and heart for Batswana and our continued impact in the different industries”.
He further stated that through this marathon, “we demonstrate our steadfast commitment to having a good influence on our communities, this event is a manifestation of our dedication to promoting education and a healthier, more active society”. He concluded by stating that “BTC looks forward to another successful marathon that will leave a lasting positive influence on the greater Francistown community and the country at large” he said.
Giving welcome remarks, the Councillor for Donga, Honourable Morulaganyi Mothowabarwa stated that “he is ecstatic that BTC is collaborating with the City of Francistown on yet another installment of the Marathon”. He continued to offer his support to BTC to enable this marathon to continue over the coming years, stating that the “CSI element is a welcome development that helps empower our communities”, he said.
The 3rd BTC Francistown Marathon is officially open for registrations and athletes may use the following platforms to register and pay; through Smega by dialling *173# and choosing opton 5, then choose Option 3 for the Francistown marathon, at any BTC store or by visiting the BTC website and clicking on the BTC Francistown Marathon and choosing the relevant options.
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Letsholo lauds President Masisi’s digitization in fight against corruption
Thapelo Letsholo, Member of Parliament for Kanye North, delivered a moving speech at the United Nations International Anti-Corruption Day commemoration, praising President Dr. Mokgweetsi Eric Keabetswe Masisi’s digitalization initiative in the fight against corruption. Letsholo highlighted the importance of embracing digitalization in governance as a crucial step in curbing corrupt practices.
According to Letsholo, the implementation of digital systems in government services can significantly reduce direct interactions between citizens and officials, which often serve as fertile grounds for corruption. By minimizing these opportunities for illicit activities, the efficiency and transparency of public services can be enhanced. Letsholo pointed to Estonia’s success in digital governance as an example, where public services have become more transparent, accessible, and efficient.
The MP commended President Masisi’s commitment to digitalization and E-Governance, emphasizing that it aligns with global anti-corruption standards. He called for full support and active participation from all sectors to ensure the success of this initiative.
Letsholo also stressed the importance of improving detection methods and refining whistleblower laws to effectively combat corruption. He highlighted the unseen and unspoken facets of corruption as its lifelines, emphasizing the need for robust detection mechanisms and a system that encourages and protects whistleblowers.
Addressing the societal role in fighting corruption, Letsholo focused on the crucial role of everyday citizens and civil servants who often witness corrupt practices firsthand. He acknowledged the existing reluctance to report corruption due to the perceived risks of repercussions. To change this narrative, Letsholo advocated for creating an environment where staying silent is deemed more detrimental than speaking out. He called for a cultural shift where the potential benefits of exposing corruption outweigh the risks, ensuring that whistleblowers are protected and feel secure in coming forward.
Letsholo called for collective responsibility and action in creating a system that not only detects and reports corruption but also supports those who stand against it. He expressed hope that under President Masisi’s digitalization initiatives, the future of governance in Botswana will be characterized by integrity, transparency, and accountability. Letsholo’s speech resonated with the sentiments of hope and determination that permeated the commemoration, emphasizing the need for unity in the fight against corruption.
In summary, Letsholo lauded President Masisi’s digitalization initiative in the fight against corruption, highlighting its potential to curb corrupt practices, enhance efficiency and transparency in public services, and align with global anti-corruption standards. He emphasized the importance of improving detection methods, refining whistleblower laws, and creating an environment where speaking out against corruption is encouraged and protected. Letsholo called for collective responsibility and action in creating a future characterized by integrity, transparency, and accountability in governance.
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FaR property assets value clock P1.47 billion
FaR Property Company (FPC) Limited, a property investment company listed on the Botswana Stock Exchange, has recently announced its exceptional financial results for the year 2023. The company’s property asset value has risen to P1.47 billion, up from P1.42 billion in the previous year.
FPC has a diverse portfolio of properties, including retail, commercial, industrial, and residential properties in Botswana, South Africa, and Zambia. The company owns a total of 186 properties, generating rental revenues from various sectors. In 2023, the company recorded rental revenues of P11 million from residential properties, P62 million from industrial properties, and P89 million from commercial properties. Overall, the company’s total revenues increased by 9% to P153 million, while profit before tax increased by 22% to P136 million, and operating profit increased by 11% to P139 million.
One notable achievement for FPC is the low vacancy rate across its properties, which stands at only 6%. This is particularly impressive considering the challenging trading environment. The company attributes this success to effective lease management and the leasing of previously vacant properties in South Africa. FPC’s management expressed satisfaction with the results, highlighting the resilience of the company in the face of ongoing macroeconomic challenges.
The increase in profit before tax can be attributed to both an increase in income and effective control of operating expenses. FPC managed to achieve these results with fewer employees, demonstrating the company’s efficiency. The headline earnings per linked unit also saw an improvement, reaching 26.92 thebe, higher than the previous year.
Looking ahead, FPC remains confident in its competitiveness and growth prospects. The company possesses a substantial land bank, which it plans to develop strategically as opportunities arise. FPC aims for managed growth, focusing on consumer-driven developments and ensuring the presence of supportive tenants. By maintaining this approach, the company believes it can sustainably grow its property portfolio and remain competitive in the market.
In terms of the macroeconomic environment, FPC noted that inflation rates are decreasing towards the 3% to 6% range approved by the Bank of Botswana. This is positive news for the company, as it hopes for further decreases in interest rates. However, the fluctuating fuel prices, influenced by global events such as the war in Ukraine and oil output reductions by Russia and other Middle Eastern countries, continue to impact businesses, including some of FPC’s tenants.
FPC’s property portfolio includes notable assets such as a shopping mall in Francistown with Choppies Hyper as the anchor tenant, Borogo Mall located on the A33 main road near the Kazungula ferry crossing, and various industrial and commercial properties in Gaborone leased to Choppies, Senn Foods, and Clover Botswana. The company also owns a shopping mall in Mafikeng and Rustenburg in South Africa.
The majority of FPC’s properties, 85%, are located in Botswana, followed by 12% in South Africa and 3% in Zambia. With its strong financial performance, competitive position, and strategic land bank, FPC is well-positioned for continued growth and success in the property market.