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Palapye Business Expo seeks to transform central region into business hub

The second edition of the annual Palapye Business Expo will return again this year bigger and better. The expo slated for May 31 through to June 1 is expected to draw exhibitors from across the country as well as from abroad.

The business expo which is aimed at transforming local Small Medium and Micro Enterprise Businesses (SMMEs) into success is aimed at facilitating development of more entrepreneurial culture by assisting the economy to becoming more competitive and reduction of high unemployment rate as well as marketing and promoting local businesses. The purpose of the expo is centred on building of businesses of Botswana as whole by marketing and promoting local enterprises both local and internationally.

In an exclusive interview, the Director of Paramount Springs and coordinator of the expo, Prince Olaotse said the initiative was launched last year following lack of business events that uplifted and exposed businesses in the central district. He said the business expo exists to resuscitate and transform potential business hub region into an ideal dominant business point. He added that that lack of support from the society as a whole towards the entrepreneur is currently one of the major barriers to the development of independent and successful businesses in the country.

“The lack of support of those who shape the environment for enterprises, namely the regulators, public officials and the society as a whole remains a challenge towards business development and the initiative influences awareness through strategy that concentrates on promotion of  the important role played by entrepreneurship in wealth and employment generation and diversification of the economy,’’ Olaotse said.

Olaotse further said the expo seeks to attract foreign exhibitors who can be potential investors in the region.  “We are looking at building an initiative that will be able to bridge the gap between potential investors and small businesses in the central region, as the intention is to market or network the companies and businesses to expand rapidly. “

When commenting on the target market, Olaotse stipulated that the expo is targeting all locally owned businesses, foreign companies and aspiring youth who want to venture into business. He added that the expo is capable of building a culture of entrepreneurship in the central district as well as drawing both north and south market in one place.

Palapye Business Expo is hosted annually in collaboration with business associations, government departments and established enterprises with the focus of exhibiting products and services by businesses and youth entrepreneurs from the central region.  

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Business

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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Business

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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