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New Air Botswana jet for Gabs-Cape Town route

Recent aviation reports reveal that Air Botswana has concluded purchase of 70 seater Embraer E170 in a brand new livery and it is expected to take over the moribund Gaborone-Cape Town route.  

Air Botswana used to render services of Cemair jet to lease its jet for the Gaborone-Cape Town but the route was this year suspended by its South African aviation watchdog over regulatory issues. Ever since the suspension, the route failed to take off and it has been in a hiatus.
 Both Air Botswana and Minister of Transport and Communications would not divulge when the jet will land at Sir Seretse Khama Airport. They also did not want to discuss the cost of the jet. The new livery replaces a zebra stripe motif on the tail with three blue and black rounded triangles. The flashy and lucrative jet will join Air Botswana’s fleet of an ATR42-500, and ATR72-500.

Air Botswana is on a privatization mission and Mokaila said he want to make it more lucrative before he sells it to the highest bidder. Apparently Mokaila want the airliner to cost around P1 billion to anyone buying it. The Embraer 170 (A2-ABM-MSN 17000318), formerly registered N734A, is owned by Southern Aircraft Consultancy. The new livery, which was painted by Muskoka Aircraft Refinishing at the Canadian airport of Muskoka Little Norway, Ontario, replaces a zebra stripe motif on the tail with three blue and black rounded triangles. The Air Botswana titles are in line with the blue, black-and-blue cheat lines on the lower forward fuselage.

The largest aircraft Air Botswana operated were a Boeing 737-200 (ZS-SGX) used briefly since 2009, and a McDonnell Douglas MD-83 (ZS-TRI) leased for a year from Africa Charter Airline in 2015. Embraer was formerly owned by Saudi Aramco, and along with two others, provided VIP charter operations from Saudi Arabia. One other, N735A is currently still residing at Toronto Lester B. Pearson International Airport pending its fate. Saudi Aramco currently operates six leased Boeing 737-800s, and a Boeing 767-200.

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China’s GDP expands 3% in 2022 despite various pressures

2nd February 2023
China’s Gross Domestic Product (GDP) expanded by 3% year-on-year to 121.02 trillion yuan ($17.93 trillion) in 2022 despite being mired in various growth pressures, according to data from the National Bureau Statistics.

The annual growth rate beat a median economist forecast of 2.8% as polled by Reuters. The country’s fourth-quarter GDP growth of 2.9% also surpassed expectations for a 1.8% increase.

In 2022, the Chinese economy encountered more difficulties and challenges than was expected amid a complex domestic and international situation. However, NBS said economic growth stabilized after various measures were taken to shore up growth.

Industrial output rose 3.6% in 2022 over the previous year, while retail sales slightly shrank by 0.2% data show that fixed-asset investment increased 5.1% over 2021, with a 9.1% hike in manufacturing investment but a 10% fall in property investment.

China created 12.06 million new jobs in urban regions throughout the year, surpassing its annual target of 11 million, and officials have stressed the importance of continuing an employment-first policy in 2023.

Meanwhile, China tourism market is a step closer to robust recovery. Tourism operators are in high spirits because the market saw a good chance of a robust recovery during the Spring Festival holiday amid relaxed COVID-19 travel policies.

On January 27, the last day of the seven-day break, the Ministry of Culture and Tourism published an encouraging performance report of the tourism market. It said that domestic destinations and attractions received 308 million visits, up 23.1% year-on-year. The number is roughly 88.6% of that in 2019, they year before the pandemic hit.

According to the report, tourism-related revenue generated during the seven-day period was about 375.8 billion yuan ($55.41 billion), a year-on-year rise of 30%. The revenue was about 73% of that in 2019, the Ministry said.

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Jewellery manufacturing plant to create over 100 jobs

30th January 2023

The state of the art jewellery manufacturing plant that has been set up by international diamond and cutting company, KGK Diamonds Botswana will create over 100 jobs, of which 89 percent will be localized.

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Investors inject capital into Tsodilo Resources Company

25th January 2023

Local diamond and metal exploration company Tsodilo Resources Limited has negotiated a non-brokered private placement of 2,200, 914 units of the company at a price per unit of 0.20 US Dollars, which will provide gross proceeds to the company in the amount of C$440, 188. 20.

According to a statement from the group, proceeds from the private placement will be used for the betterment of the Xaudum iron formation project in Botswana and general corporate purposes.

The statement says every unit of the company will consist of a common share in the capital of the company and one Common Share purchase warrant of the company.

Each warrant will enable a holder to make a single purchase for the period of 24 months at an amount of $0.20. As per regularity requirements, the group indicates that the common shares and warrants will be subject to a four month plus a day hold period from date of closure.

Tsodilo is exempt from the formal valuation and minority shareholder approval requirements. This is for the reason that the fair market value of the private placement, insofar as it involves the director, is not more than 25% of the company’s market capitalization.

Tsodilo Resources Limited is an international diamond and metals exploration company engaged in the search for economic diamond and metal deposits at its Bosoto Limited and Gcwihaba Resources projects in Botswana.  The company has a 100% stake in Bosoto which holds the BK16 kimberlite project in the Orapa Kimberlite Field (OKF) in Botswana.

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