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New BITC tv program to promote locally produced goods

Botswana Investment & Trade Center (BITC) has introduced a program aimed at promoting locally produced goods and products. It also raises awareness on existing investment opportunities in the manufacturing sector and other economic sectors that can diversify the economy away from mining and ultimately create the much needed jobs.

According to Kutlo Moagi, Director Corporate Communications at BITC, the center always explores innovative ways to market Botswana products, disseminate information on the centre‘s mandate and increase visibility of the organization. Speaking to this reporter, Moagi said the new television program dubbed ‘’Making in Botswana’’ showcases processes used to produce different products in Botswana. “BITC highlights just how this established manufacturing industries impact everyday life of all Batswana through job creation, skills and technology transfer, economic growth etc,” she said

Making It in Botswana which started airing on Botswana Television this past Monday September 18th provides a platform through a step by step process highlighting the quality and standards involved in making various products in Botswana. BITC states that these will allow viewers to appreciate the quality of the products they use and the complexity involved in making the products. ‘’Making It in Botswana’’ is expected to educate consumers on these products and make them appreciate them more.

The Corporate Communication Executive further explained that the name “Making It in Botswana” has a two pronged meaning – she says it speaks to both producing quality goods and products in Botswana and running a successful business. “As an investment promotion agency we must take a lead and actively show why Botswana is primarily the best place to do business in Africa and this can only be achieved by promoting industries and businesses that have been there, done that, and show how they have leveraged the partnerships and business development frameworks available in the county,” explained Moagi.

She says the show is premised on the BITC brand “Go Botswana”. BITC’s “Making It in Botswana” television program which is expected to run for 13 episodes during the first phase is intended to amongst other things, promote Botswana’s manufacturing industry and create awareness on the different products being manufactured in Botswana; encourage and showcase to Batswana that it is possible to produce Botswana goods; and that there are a lot of manufacturing opportunities in the county.

Furthermore, the BITC observes that the show will showcase testimonies of existing companies especially those assisted by BITC to set up or access foreign and domestic market. The show also profiles and provides exposure to all participating companies as well as encourage Batswana to buy locally produced products. The target audience for Making It in Botswana includes entrepreneurs, potential and existing local investors, General public, government, BITC stakeholders, Media and Batswana at large

The television program features a number of manufacturing companies from different sectors of the economy and from different areas such as Kasane, Maun, Selibe Phikwe , Francistown, Lobatse, Mmamashia, and Gaborone.  Companies featured on the show include, Flotek, NaPro, Ebony, Green Reeds, AliBoats, KGK Diamonds, Bokomo Botswana, Nortex, Babic Holdings, Dinesh Textiles, Mane Blocks Holdings, Sola Power, Gabs Bedding, Makoro Bricks, Kalahari Canvas, Fiber Land, Crittal Hope, Sally diary, Chloride Exide Botswana etc. The products featured include tomato sources, Towels, Boats, Maize Meal, Bath tubs, solar panels, car batteries, caravans, tents, Window frames, Beds, bricks, protective clothing, Juice and sour milk.

Recent reports indicates that Botswana Investment & Trade Center (BITI) registered P377 million of investment expansions resulting from their investor aftercare program, which encourages companies to reinvest locally. FDI attracted through BITC in 2015 amounted to P1.493 billion compared to P1.489 billion the previous year, while domestic investment amounted to P1.253 billion compared to P238.4 million the previous year. In 2015, BITC further facilitated exports valued at P2.2 billion

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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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