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Barclays Bank of Botswana wins Bank of the year

Barclays Bank of Botswana (BBB) has been named Botswana’s ‘Bank of the Year 2016’ by Acquisition International (AI) – The Voice of Corporate Finance. AI is a monthly magazine, brought to you by a UK based publisher, which seeks to shape the global corporate conversation through high quality editorial and rigorous research from its team of experts and advisors.

“We are delighted and proud to be the recipients of this prestigious award and to be named the Botswana ‘Bank of the year 2016’. This reaffirms our commitment to providing our valued customers and clients with the superior banking services they need and deserve,” said Barclays Bank of Botswana Managing Director, Reinette Van der Merwe.

AI has a readership of over 108,000 subscribers in over 170 countries. This in turn had consequently attracted submissions from some of the biggest players in the corporate landscape.

The major reason for Barclays Bank to win this award is the continued investing in cutting edge technology that enhances efficiency levels across the business. This has positively impacted customers, and repositioned the Bank as the leading pioneer of innovative banking solutions in the market.

“As a Bank, part of our work ethic is highly influenced by rising to the challenge to keep innovating and having a positive impact on Botswana’s growth. Our growth and excellence story largely depends on the strong and resilient banking system we have managed to develop and, above all, a dedicated workforce,” Van der Merwe added.

Barclays Retail Banking continued to launch first-to-market, customer focused solutions; Mobile Point of Sale, Cash at Till, Ignition Account, Discounts and Offers and Cardless Cash Deposit are some of the customer centric solutions that makes banking easier. It is through these innovations that Barclays continue to help Batswana prosper.

The Bank also excelled at Business Banking and launched Franchise Finance and Business Debit card to the local market. It also demonstrated expertise in Agric Banking through sponsorships of key activities across the country, including the National Agric Show, Chobe Farmers Field Day and Sandveld Farmers’ Field day, amongst others.

Barclays Corporate and Investment Banking (CIB) also had a good year and, notably, signed a significant deal with the Overseas Private Investment Corporation (OPIC). CIB also continues to lead in the Public Sector, and has seen an impressive growth in the last two years.

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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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