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Barclays Bank of Botswana unveils unique online Visa solution with enhanced security

Barclays Bank of Botswana has become the first bank in the country to launch the Verified by Visa solution, which provides additional security features for online transactions that should give extra peace of mind for online shoppers.


Verified by Visa is a global solution designed to make online commercial purchases more secure by ensuring the rightful owner of the Visa account initiates the transaction. It is a password protected authentication system designed to confirm the identity of the cardholder when a Visa card is used online and protect a cardholder against unauthorised use.  


This added security allows Barclays cardholders to monitor every online transaction charged to their account, empowering them to stay in control while they bank on the go. The key feature is that it enables customers to review and approve online transactions charged to their banking cards prior to payment. This way, it helps to prevent fraudulent transactions and gives all parties in the payment process greater peace of mind, especially when used in conjunction with all the other security features offered by Visa. It is expected to encourage the growth of e-commerce in the country.


Speaking at the launch, Retail Director at Barclays Bank of Botswana, Brighton Banda, said:  “Verified by Visa is the most premier security feature to be launched in the Botswana market to date and is available to our customers free of charge. Our customers are increasingly embracing digital platforms to stay connected and to conduct local and international trade. With Verified by Visa, Barclays’ customers are in greater control of what transactions are ultimately charged to their debit and/or credit cards.”


The way it works is that a one-time password will be sent via email or SMS to the customer who has completed an online transaction. The customer only needs to enter the one-time password as a confirmation of their online transaction, and it is only at this point that the payment process will be completed.


In addition, customers are offered an enhanced Barclays Visa card with the Chip and Pin feature. Chip and Pin is a prime card technology introduced to prevent card fraud. Each new Barclays card now has an embedded chip that makes the card extremely difficult to clone, allowing customers flexibility to seek immediate assistance in the event of the loss or theft of their card.  


Brighton concludes: “This launch is in line with strategic developments of our digital infrastructure and protecting our customers’ online data remains a top priority for us. We continue to make good progress to develop our digital journey while ensuring that all our digital channels provide a pleasant experience and the security that customers need to connect, shop and trade.”

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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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Global CEOs Back Plan to Unlock $3.4 Trillion Potential of Africa Free Trade Area

23rd January 2023

African heads of state and global CEOs at the World Economic Forum Annual Meeting backed the launch of the first of its kind report on how public-private partnerships can support the implementation of the African Continental Free Trade Area (AfCFTA).

AfCFTA: A New Era for Global Business and Investment in Africa outlines high-potential sectors, initiatives to support business and investment, operational tools to facilitate the AfCFTA, and illustrative examples from successful businesses in Africa to guide businesses in entering and expanding in this area.

The report aims to provide a pathway for global businesses and investors to understand the biggest trends, opportunities and strategies to successfully invest and achieve high returns in Africa, developing local, sub-regional and continental value chains and accelerating industrialization, all of which go hand in hand with the success of the AfCFTA.

The AfCFTA is the largest free trade area in the world, by area and number of participating countries. Once fully implemented, it will be the fifth-largest economy in the world, with the potential to have a combined GDP of more than $3.4 trillion. Conceived in 2018, it now has 54 national economies in Africa, could attract billions in foreign investment, and boost overseas exports by a third, double intra-continental trade, raise incomes by 8% and lift 50 million people out of poverty.

To ease the pain of transition to its new single market, Africa has learned from trade liberalization in North America and Europe. “Our wide range of partners and experience can help anticipate and mitigate potential disruptions in business and production dynamics,” said Børge Brende, President, and World Economic Forum. “The Forum’s initiatives will help to ease physical, capital and digital flows in Africa through stakeholder collaboration, private-public collaboration and information-sharing.”

Given the continent’s historically low foreign direct investment relative to other regions, the report highlights the sense of excitement as the AfCFTA lowers or removes barriers to trade and competitiveness. “The promising gains from an integrated African market should be a signal to investors around the world that the continent is ripe for business creation, integration and expansion,” said Chido Munyati, Head of Regional Agenda, Africa, World Economic Forum.

The report focuses on four key sectors that have a combined worth of $130 billion and represent high-potential opportunities for companies looking to invest in Africa: automotive; agriculture and agroprocessing; pharmaceuticals; and transport and logistics.

“Macro trends in the four key sectors and across Africa’s growth potential reveal tremendous opportunities for business expansion as population, income and connectivity are on the rise,” said Wamkele Mene, Secretary-General, AfCFTA Secretariat.

“These projections reveal an unprecedented opportunity for local and global businesses to invest in African countries and play a vital role in the development of crucial local and regional value chains on the continent,” said Landry Signé, Executive Director and Professor, Thunderbird School of Global Management and Co-Chair, World Economic Forum Regional Action Group for Africa.

The Forum is actively working towards implementing trade and investment tools through initiatives, such as Friends of the Africa Continental Free Trade Area, to align with the negotiation process of the AfCFTA. It identifies areas where public-private collaboration can help reduce barriers and facilitate investment from international firms.

About the World Economic Forum Annual Meeting 2023

The World Economic Forum Annual Meeting 2023 convenes the world’s foremost leaders under the theme, Cooperation in a Fragmented World. It calls on world leaders to address immediate economic, energy and food crises while laying the groundwork for a more sustainable, resilient world. For further information,

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