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Botswana hosts Africa gaming regulators meet

Botswana Gambling Authority will host the 14th Gaming Regulators Africa Forum (GRAFT) 2018 Conference.  The Annual Conference, which is a key activity in the GRAF calendar, will be held at Gaborone International Convention Center from the 26th until 29th August this year.

The Conference will be held under the theme: “The socio-economic impact of harmonized gaming regulation in the era of rapid technological advancement”.  Gambling Authority, Chief Executive Officer Thuli Johnson noted that Botswana as a new member of GRAFT was highly privileged to host the event ‘‘Hosting GRAF is a great milestone for the Gambling Authority, considering that we are in our formative years,” he told media this week.

 He explained that the Gaming Regulators Africa Forum guards communities and citizens through the adherence of gaming regulatory laws applicable to each jurisdiction.  “It aligns matters that affect this industry and ensures that Africa and the sub-Sahara do not become dumping grounds for old and degenerating gaming technologies. It implements initiatives that are aimed at curbing problem gambling and ensures counseling and education for the affected,” he said.

 Johnson reiterated that the conference was key in the business of gaming regulators in Africa as it gives them the platform to get to know one another, collaborate, and share best practices , programs and ways in which they can regulate better.  “As an authority in its formative years this stands to benefit us, as we gathered information, knowledge and technical support from other well established regulators when we set up our operational tools and human resources structures as well as regulatory frameworks, that also helped us save cost that would otherwise have been incurred from outsourcing and engaging consultants,” explained the GA boss.

Johnson revealed that the conference will further deliberate on the key issues such as cyber crime and illegal gambling.  “By nature this is an industry that is prone and vulnerable to highly technical criminal practices such as cross bother illegal gambling, systems hacking and unauthorized gaming,” he said.  According to Johnson the conference would assist GRAFT members forge ways in which the organization can be moved to the next level.

 “We will deliberate and formalize some of the proposed structures and frameworks on how we can transform the organization to an entity that benefits its members better in the areas of human resources capacity building, tightening regulatory mechanism, training and further collaborations,” he indicated.  

On the part of Botswana, the Gambling Authority Executive explained that hosting the conference would benefit Botswana as successfully delivering an international event will go a long way in contributing to reputable Botswana‘s global profile, and build  value adding continental network for his organization and by extension the country.

  “This conference will also boost our local economy as the conference delegates will spend money here by utilising our logistics and hospitality services, they will also support our small medium enterprise,” he said. Johnson also highlighted that to further ensure Botswana leverages on these international visitors, his organization will treat the delegates to a gala dinner at the Three Chiefs Monument space at the end of the conference to expose them to Botswana’s landscapes and also engage with them on other matters of socio-economic development.

 “This conference will bring about potential investors, business people and several opportunities because the Gambling and Gaming industry on is its own an extremely moneyed space of trade and engagement, so we stand to benefit more as the host across, we have organized other social event on the sidelines of the conference to afford the delegates an opportunity to interact with other local business people” he said. Thuli Johnson also added that conference members will also engage in philanthropic and humanitarian work for charity purposes.

 “We has selected six charity organizations to which our delegates will break in six groups and participates in community work, interact with the charity organizations and make donations” he said, adding that the conference will leave lasting footprints in Botswana.
 The Gambling Authority of Botswana was established in 2012 charged with regulating the gambling industry in Botswana.

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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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