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Botswana’s Strive for High Income Economy – Billionaire Advice from Masiyiwa

A highly charged event, attended in large numbers by young people hungry for a billionaire advice from Zimbabwe’s wealthiest man Strive Masiyiwa alongside Botswana President Mokgweetsi Masisi.

Many of the attendants were youthful entrepreneurs or aspiring to be one, leading the take home lessons from the Telecom tycoon was a push for young people‘s venture into ICT businesses. An embodiment of ICT and digital business world himself, Strive who is the founder of Mascom Wireless, Botswana leading mobile network services provider and Charmin of Econet Group, a pan African telecommunication giant says entrepreneurship is about providing solutions to everyday challenges.  Held under the theme "Unlocking youth entrepreneurship through knowledge based economy” Masiyiwa was in Botswana at the invitation of President Masisi.

Amongst other discussions between the two, Africa’s newest Billionaire committed to investing in fiber Internet and training in Botswana, starting in the next few months. Lamenting on the proposition President Masisi noted that this would mean easy and affordable internet access to Batswana and more jobs opportunities for young people. President Masisi announced that a model for the deal is currently being developed and investment will be sealed by next week.

Strive Masiyiwa who started his entrepreneurship journey when he was only 25 says he had been running a business from 1986 to 1993 when he came to the realization that telecommunications was needed in Africa. In 1997, he sold his belongings and came to Botswana. Wrestling against some top industry players including Vodacom in order to bring a mobile telecommunications service to Botswana ,in his pitch to Government , Strive projected that he would have 120 000 subscribers within the first 5 years. Prior to the Tuesday meeting Mr Masiyiwa shared on his social media platforms that his plan was to list Mascom wireless after acquiring majority shareholding.

“I never stopped being a shareholder of the company at any time, and it’s now been 21 years. This is my baby, A few months ago I approached MTN, and told them I now have the money to buy the shares that they originally bought from me and wanted to exercise my right to buy them out as per our original agreement.” He revealed

Masiyiwa says he will soon have majority shareholding of a company he started over 2 decades ago as Masiyiwa Communications.”After a few months of negotiating with MTM, we reached a deal. I’m paying them $300m equivalent to P3 billion , which means they have done very well, as they originally paid less than $70m , P700 million.” he said

Masiyiwa says as soon as he completes the acquisition of the MTN shares in what he hope will be the biggest public listing ever undertaken in Botswana, he to sell shares to anyone who can raise about 100 Pula (about $10). “I have already instructed our management to begin a sale process to ordinary Botswana citizens” he says

The Zimbabwean Billionaire also revealed his proposal to other shareholder being Botswana Public Officers Pension Fund (BPOPF) “I have also suggested to our partner, the Botswana Public Officers Pension Fund (BPOPF), to also sell some of its own shares directly to their members, thousands of civil servants. It is actually possible to set up a scheme in which the civil servants buy shares, using deductions on their salaries.

They can also restrict trading of such shares amongst themselves” he said. At the Tuesday meeting President Mokgweetsi Masisi that his administration will have more engagements with business people who are willing to invest in Botswana for betterment of lives of Batswana and transforming Botswana’s economy from an upper middle income to a high income economy “We have committed ourselves to leveraging on information technology as a key contributor to economic growth and employment creation whilst also enabling an efficient and effective private sector” he said.

Masisi noted that Botswana‘s Vision 2036 also recognizes the importance of investment in research, science, technology and innovation to enable the country’s transformation to knowledge based economy. “In this context, we have spelt out in our National Vision that an enabling environment, including digital access and a relevant regulatory framework will be improved to enable the development of a private sector led ICT industry”

President Masisi told hundreds of attending youth that Government was committed to the development of the national high speed Information and Communications Technology (ICT) infrastructure to enable and facilitate the provision of online services, applications and content. “We are also committed to a knowledge based economy which will contribute in no small measure, to our concerted efforts of diversifying our economy thus creating employment for the youth” he said.

However contrary to jubilant welcome and positive feedback from Batswana regarding Strive Masiyiwa’s visit, Leader of Opposition Duma Boko rubbished the town hall meeting as a waste of time. Boko says Masiyiwa is a business man who is anti democracy and pro government exploitation and ruthless capitalistic dealings “Strive Masiyiwa is the same man who cut internet in Zimbabwe to silence hundreds of thousands of Zimbabweans when they were protesting against his friend President Mnangangwa” said Boko when addressing a UDC rally in Masunga this opining that Botswana can make its millionaires without the help of anyone. “If a Zimbabwean like Strive can be a billionaire so can an ordinary Motswana from Masunga, we don’t need Masiyiwa here, since he founded Mascom, what has he done for Botswana?” said Boko

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Why Katholo engaged private lawyers against State

16th May 2022
Katlholo

The Director General of the Directorate on Corruption and Economic Crime (DCEC) Tymon Katholo has revealed why he took a decision to engage private lawyers against the State. The DCEC boss engaged Monthe and Marumo Attorneys in his application to interdict the Directorate of Intelligence and Security (DIS) from accessing files and dockets in the custody of the corruption busting agency.

In his affidavit, Katholo says that by virtue of my appointment as the Director General of the DCEC, he is obliged to defend the administration and operational activities of the DCEC. He added that, “I have however been advised about a provision in the State Proceedings Act which grants the authority of public institution to undertake legal proceedings to the Attorney General.” Katholo contends that the provision is not absolute and the High Court may in the exercise of its original jurisdiction permit such, like in this circumstance authorise such proceedings to be instituted by the DCEC or its Director General.

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Dada to break Kwelagobe’s BDP long standing record

16th May 2022
Dada

Botswana Democratic Party (BDP) has gone through transformation over the years, with new faces coming and going, but some figures have become part and parcel of the furniture at Tsholetsa House. From founding in 1962, BDP has seen five leaders changing the baton during the party’s 60 years of existence. The party has successfully contested 12 general elections, albeit the outcome of the last polls were disputed in court.

While party splits were not synonymous with the BDP for the better part of its existence, the party suffered two splits in the last 12 years; the first in 2010 when a Barataphathi faction broke ranks to found the now defunct Botswana Movement for Democracy (BMD). The Barataphathi faction was in the main protesting the ill-treatment of then recently elected party secretary general, Gomolemo Motswaledi, who had been suspended ostensibly for challenging the authority of then president, Ian Khama.

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The Gulaam Husain Abdoola – Dubai sting detailed

16th May 2022
Gulaam Husain Abdoola

Mr Abdoola has known Mr. Uzair Razi for many years from the time he was a young boy. Uzair’s father, Mr Razi Ahmed, was the head of BCCI Bank in Botswana and “a very good man,” his close associates say.

Uzair and his wife went to settle in Dubai, the latter’s birthplace. He stayed in touch and was working for a real estate company owned by Mr. Sameer Lakhani. “Our understanding is that Uzair approached Mr. Abdoola to utilize their services for any property-related interests in Dubai. He did some work for Mr.Abdoola and others in the Botswana business community,” narrates a friend of Mr Abdoola.

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