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BITC’s quest to tap into ostrich farming business

Years after the agribusiness sector introduced commercial ostrich farming in Botswana, the industry still is not well established and operational.The Botswana Investment and Trade Centre (BITC) has hinted on its quest to invest in the close to non-existent sector which has promising revenue creation.

BITC Chief Executive Officer (CEO), Keletsositse Olebile told the media this week that many countries are making substantial returns in the sector.  He highlighted that the field remains one of those untapped fields with promising returns if done well. Olebile said this sector has the potential to promote diversity and expand markets. BITC, which has penetrated 16 markets and trading on different products, has also noted that they will support and see the industry through.

Olebile indicated that with support and talks from the Global Karoo, the industry will be a sight for willing famers. The Agricultural sector is reported to have not made enough impact as it was expected in the economy therefore the need to tap into other fields to diversify and expand it are vital.

A report by the Ministry of Agriculture (MOA) highlights that Ostrich farming started early years in the 80’s. In 1994, the Department of Wildlife and National Parks’s are reported to have conducted aerial surveys which led to an estimate that placed Botswana’s wild ostrich population to be around 60 000 with the largest population being in north-western Kgalagadi and south-west Ngamiland. Commercial ostrich farming though is noted to have started in Botswana in the late 1980s.

 When the report was conducted in 2011 it has been stated that breeding birds reared commercially in Botswana were estimated to be slightly over 1000. In a quest to ensure there is growth in, MOA is reported to have facilitated for the Dibete Ostrich Multiplication Unit (DOMU) which was allocated a portion of land in the area around Dibete quarantine camp. DOMU was created to act as a catalyst that will assist in reviving the ostrich industry catalyst.

According to the report the unit was created to aid in research, training, practical demonstration, and extension services.  Another of the many objectives of DOMU was to establish satellite farms in the area, which will be under the direct supervision of DOMU also facilitating in the Provision of breeding stock and chicks alongside hatching facilities. Ostrich Farming in other countries dates as far back as the 1860. A report by Klein Karoo International Limited (LTD), an organization trading and dealing in Ostrich and its products shows that the Ostrich industry is lubricant and there is a need in the market.

This reflects where the organization states that South Africa has an 85 percent global market share and to date remains the leader in the Ostrich industry since the onset of Ostrich farming in 1864. They note that their ability to be in a space that has overtaken the whole trade of the Ostriches is supported by constant investment, vast expertise and experience of all role players and continuous investment in research on how to continue producing high quality birds. The organization on the total market share has highlighted that it supplies 65 percent of all Ostrich meat, leather and feathers sold internationally.

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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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