Phikwe Rebirth: Mhohlo to indulge Bill Gates
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Former Bank of Botswana Governor, Ms Linah Mohohlo who was recently appointed Coordinator of the Selibe Phikwe Revitalization Project has vowed that she has the acumen to indulge Bill Gates to inject hope back to Selibe Phikwe, should the need arise.
Mohohlo was unveiled during the African Industrialization Day commemorations on Tuesday in Selibe Phikwe by the Minister Investment Trade & Industry, Vincent Seretse. The Ministry of Investment Trade & Industry’s Phikwe Economic Revitalization Strategy (ERS) coordinated by former Bank of Botswana Governor, was also unveiled during the commemorations.
According to the strategy, precisely 6 856 jobs will be created in the next 24 months in Selibi Phikwe, WeekendPost has learnt. The jobs, it was revealed on Tuesday in the distressed town, will be a result of a P1.8 billion worth of 20 specific businesses that are to set up shop in eastern town.
SHOCK ABSORBING INTERVATIONS
The liquidation of BCL mine resulted in 4000 miners losing their jobs three weeks ago, and Government as a result has put in place short term remise to ease the effects of the job losses on the former miners. P11 million has been set aside for one full year to pay school fees for children of former BCL employees, Minister of Investment Trade & Industry (MITI) Vincent Seretse revealed on Tuesday.
According to Seretse, the Ministry of Basic Education (MBE) has been mandated with facilitating the undertaking, “Government has committed to continue paying school fees for children of former BCL employees for one year, that is 2017, The office of the Coordinator, District Commissioner and MBE are already working out details to implement this decision,’’ he said.
The Minister further noted that the Ministry of Health and Wellness has taken over medical expenses which were borne by BCL of which the estimated cost is about P15 million. “For Social Support and counselling services government will ensure availability of senior level officers in Selibe Phikwe to assist former BCL employees,” concluded Seretse.
For their part government investment arm, the Citizen Entrepreneurial Development Agency (CEDA) told attendants that all BCL direct contractors who borrowed capital from the agency will be exempted from paying monthly instalments for a period until liquidation process is completed next year.
“In our efforts to keep our funded businesses which depended on BCL to keep surviving, we will give them a period of four months from now without compulsory payment of our agreed monthly instalments,’’ explained CEDA Chief Executive Officer, Thabo Thamane, who also conceded that this decision would negatively affect them.
According to the government subsidized lender, talks are at a final stage with Botswana’s largest private sector employer, Debswana to absorb some of the companies that are in line with its business. “Debswana has showed willingness to contract some of our funded companies who did business with BCL at their Jwaneng and Orapa mines. This will go a long way in ensuring their survival and consequently paying back the loaned capital in order for us (CEDA) to re-invest here in Phikwe,’’ he said.
THE REVITALISATION STRATEGY
Speaking to the Strategy, Minister Seretse said it will run for two years and it includes projects categorized into agricultural production and processing, tourism and related services as well as manufacturing. “At least 20 specific projects at an estimated cost of P1.8 billion pula will be implemented over a period of 24 months creating 6856 jobs,’’ he indicated.
Seretse further noted that to equip and resource that strategy and ease of doing business, government investment and trade experts, Botswana Investment & Trade Centre (BITC) has deployed Director –Export Promotion and has since arrived in Phikwe as of last week. For her part, the Permanent Secretary at MITI, Ms Peggy Serame said that projects that are to be used to bring Selibe Phikwe to economic life include, revival of the textile industry which is expected to hire over 2000 people during the first quarter of 2017; renewable power generation; assembling of components including vehicle parts; equipment and machinery manufacturing which are all expected to hire thousands of people.
“We are hoping there will be success this time around for the textile industry, we also expect a number of citizen owned ICT businesses to set up their assembly plants here,’’ she said. Serame hinted that citizen owned companies; Almaz (PTY) LTD and Ditec Mobile would be setting up assembly plants in Phikwe.
RIGOROUS INDUSTRIALIZATION
Ditec Founder and Chief Executive, Justice Williams told this publication that his team of technicians are already in Selibe Phikwe to conclude logistics prior to commencement of the process of relocating to the town. “We have already identified a warehouse and for a period from now until first quarter of 2017 we will be redesigning the warehouse into a world-class ICT lab that produces high technological devices,” he said.
“We are looking at employing about 200 people at the 1st phase of actually manufacturing and engineering the technology smart components and phase 2 which includes programming of the components which will probably require an extra 300 personnel.” Consequently, according to Williams, Ditec will employ at least 2000 people.
For their part, newly launched citizen owned Microsoft computer producer, Almaz told WeekendPost that they are still in talks with the government regarding issues of logistics and warehouse and tax incentives. “Our setup of business here depends on the outcome of our discussions with the Ministry of Investment Trade & Industry,’’ said Louis Sibanda, an Executive at Almaz.
Sibanda further said after finalization of talks with the government, setting up a plant in Selibe Phikwe would take 37 days and employing just over 100 employees at first production. “We will re-skill and retool our employees, that is to say former miners from BCL without or with little knowledge of computer and software engineering will be put to training to capacitate them hence they will be not left out as far as working for us is concerned.”
The Mayor of Selibe Phikwe, Amogelang Mojuta expressed delight at the developments and also revealed that his office is facilitating a multimillion pula investment which will create more jobs in Phikwe. “Just last week I was with some South African gentlemen who want to open an aviation school here. They also want to upgrade the airport to international standards and further venture into distribution of goods and services into other parts of the southern Africa region.’’
686 MILLION PULA FOR SPEDU
Of the P1.8 billion worth of business to be injected into Phikwe, Selibe Phikwe Economic Diversification Unit (SPEDU)’s treasury will account for over 600 million pula, courtesy of European Union’s re-employment fund, permanent secretary, Serame revealed.
This is in spite of commotion prevailing at the diversification vehicle, just last week; it lost its Communications & Corporate Affairs Manager Punah Molebatsi who resigned out of the blue. WeekendPost has it on good authority that the Human Resource manager has been suspended and will possibly be axed.
However the newly branded and revived SPEDU is not just about talk, Chief Executive Dr Mokubung Mokubung revealed to this publication. “Now we are no longer about economic diversification, we are transforming Selibe Phikwe into a major industrial city in Southern Africa, with value chain business opportunities and diverse nature of businesses , next week we will be groundbreaking the electrification of yet more farms in Bobonong,’’ he said.
Information gathered by this publication further suggests that SPEDU is working on a possible partnership with Barclays Bank of Botswana, who early this year loaned BCL 1 billion Pula on government guarantee. Sources present at a meeting between SPEDU executives and Barclays Bank Managing Director, Reinette Van de Merwe revealed that the multibillion pula private lender is committed to injecting more money into Selibe Phikwe as they are prepared to finance serious and viable projects.
“Yes we met Barclays Bank officials, but I’m not in a position to disclose anything as we are still doing paperwork to quantify how much partnership we are talking about and we will inform the public in due time,’’ said Mokubung.
THE OFFICE OF THE COORDINATOR
President Lt Gen Dr Ian Khama’s recent appointee, former Governor Bank of Botswana Linah Mohohlo was finally introduced to the Selibe Phikwe residents and the business community on the same day by Minister Seretse. Seretse explained that Mhohlo will be overseeing the implementation of the SPEDU Revitalization Strategy and its communication plan. “I am certain in the coming month she will have specific engagements with the various stakeholders in the region.’’
For her part Mohohlo noted that her job will depend entirely on the cooperation and collective efforts from the Phikwe residents, business community and all stakeholders. According to Mohohlo, Selibe Phikwe has the potential to create more than 7000 jobs. “We can go as far as bringing world’s richest here. I have the acumen to indulge Bill Gates and his schedule permitting, he is very active on issues of injecting hope to lost parameters,’’ she said.
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BTC launches the 3rd Francistown Marathon 2024 and handover proceeds to the 2nd Francistown Marathon beneficiaries
Botswana Telecommunications Corporation Limited (BTC) has announced that its 3rd Francistown Marathon will be held on Saturday 20th April 2024 at Obed Itani Chilume Stadium in Francistown. The BTC Francistown Marathon is officially recognised by World Athletics and a Comrades Marathon Qualifier will offer race categories ranging from 42.2km, 21.1 km, 10km, 5km fun run, 5km peace run for children and has introduced a 5km and 10km categories for wheelchairs athletics.
BTC also used this opportunity to announce beneficiaries who received donations from proceeds made from the 2nd BTC Francistown Marathon that was held on April 23rd 203. BTC donated a play area, plastic chairs and wooden tables for pupils worth a total of thirty eight thousand, one hundred and three pula, fifty thebe each (P38, 103.50) to Monarch Primary School, Tatitown Primary School, Mahube Primary School and Gulubane Primary School. Ditladi and Boikhutso clinics each received a donation of benches, television sets and 10, 000 litre water tanks worth thirty seven thousan, eight hundred and ninety eight pula (P 37, 898.00). Additionally, BTC also donated seventy thousand pula (P70,000.00) to their marathon technical partner, Francistown Athletics Club (FAC) which will be used for daily operations as well as to purchase equipment for the club.
The BTC Francistown Marathon aligns seamlessly with BTC’s corporate social investment programme, administered through the BTC Foundation. This programme is a testament to BTC’s dedication to community development, focusing on key areas such as health promotion. The marathon, now in its third year, not only promotes a healthy lifestyle but also channels all proceeds to carefully chosen charities as part of BTC’s commitment to impactful and sustainable projects.
Speaking at the launch, the BTC Managing Director Mr Anthony Masunga stated that the marathon underscores BTC’s commitment to community upliftment and corporate social investment. He stated that “the annual event which has been in existence since 2016, having taken a break due to the covid and other logistical issues, is instrumental to the economic upliftment of the city of Francistown”. He congratulated all the beneficiaries for having been nominated to receive the donations, adding that “the donation of proceeds from the 2023 marathon aims to highlight BTC’s commitment and heart for Batswana and our continued impact in the different industries”.
He further stated that through this marathon, “we demonstrate our steadfast commitment to having a good influence on our communities, this event is a manifestation of our dedication to promoting education and a healthier, more active society”. He concluded by stating that “BTC looks forward to another successful marathon that will leave a lasting positive influence on the greater Francistown community and the country at large” he said.
Giving welcome remarks, the Councillor for Donga, Honourable Morulaganyi Mothowabarwa stated that “he is ecstatic that BTC is collaborating with the City of Francistown on yet another installment of the Marathon”. He continued to offer his support to BTC to enable this marathon to continue over the coming years, stating that the “CSI element is a welcome development that helps empower our communities”, he said.
The 3rd BTC Francistown Marathon is officially open for registrations and athletes may use the following platforms to register and pay; through Smega by dialling *173# and choosing opton 5, then choose Option 3 for the Francistown marathon, at any BTC store or by visiting the BTC website and clicking on the BTC Francistown Marathon and choosing the relevant options.
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Letsholo lauds President Masisi’s digitization in fight against corruption
Thapelo Letsholo, Member of Parliament for Kanye North, delivered a moving speech at the United Nations International Anti-Corruption Day commemoration, praising President Dr. Mokgweetsi Eric Keabetswe Masisi’s digitalization initiative in the fight against corruption. Letsholo highlighted the importance of embracing digitalization in governance as a crucial step in curbing corrupt practices.
According to Letsholo, the implementation of digital systems in government services can significantly reduce direct interactions between citizens and officials, which often serve as fertile grounds for corruption. By minimizing these opportunities for illicit activities, the efficiency and transparency of public services can be enhanced. Letsholo pointed to Estonia’s success in digital governance as an example, where public services have become more transparent, accessible, and efficient.
The MP commended President Masisi’s commitment to digitalization and E-Governance, emphasizing that it aligns with global anti-corruption standards. He called for full support and active participation from all sectors to ensure the success of this initiative.
Letsholo also stressed the importance of improving detection methods and refining whistleblower laws to effectively combat corruption. He highlighted the unseen and unspoken facets of corruption as its lifelines, emphasizing the need for robust detection mechanisms and a system that encourages and protects whistleblowers.
Addressing the societal role in fighting corruption, Letsholo focused on the crucial role of everyday citizens and civil servants who often witness corrupt practices firsthand. He acknowledged the existing reluctance to report corruption due to the perceived risks of repercussions. To change this narrative, Letsholo advocated for creating an environment where staying silent is deemed more detrimental than speaking out. He called for a cultural shift where the potential benefits of exposing corruption outweigh the risks, ensuring that whistleblowers are protected and feel secure in coming forward.
Letsholo called for collective responsibility and action in creating a system that not only detects and reports corruption but also supports those who stand against it. He expressed hope that under President Masisi’s digitalization initiatives, the future of governance in Botswana will be characterized by integrity, transparency, and accountability. Letsholo’s speech resonated with the sentiments of hope and determination that permeated the commemoration, emphasizing the need for unity in the fight against corruption.
In summary, Letsholo lauded President Masisi’s digitalization initiative in the fight against corruption, highlighting its potential to curb corrupt practices, enhance efficiency and transparency in public services, and align with global anti-corruption standards. He emphasized the importance of improving detection methods, refining whistleblower laws, and creating an environment where speaking out against corruption is encouraged and protected. Letsholo called for collective responsibility and action in creating a future characterized by integrity, transparency, and accountability in governance.
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FaR property assets value clock P1.47 billion
FaR Property Company (FPC) Limited, a property investment company listed on the Botswana Stock Exchange, has recently announced its exceptional financial results for the year 2023. The company’s property asset value has risen to P1.47 billion, up from P1.42 billion in the previous year.
FPC has a diverse portfolio of properties, including retail, commercial, industrial, and residential properties in Botswana, South Africa, and Zambia. The company owns a total of 186 properties, generating rental revenues from various sectors. In 2023, the company recorded rental revenues of P11 million from residential properties, P62 million from industrial properties, and P89 million from commercial properties. Overall, the company’s total revenues increased by 9% to P153 million, while profit before tax increased by 22% to P136 million, and operating profit increased by 11% to P139 million.
One notable achievement for FPC is the low vacancy rate across its properties, which stands at only 6%. This is particularly impressive considering the challenging trading environment. The company attributes this success to effective lease management and the leasing of previously vacant properties in South Africa. FPC’s management expressed satisfaction with the results, highlighting the resilience of the company in the face of ongoing macroeconomic challenges.
The increase in profit before tax can be attributed to both an increase in income and effective control of operating expenses. FPC managed to achieve these results with fewer employees, demonstrating the company’s efficiency. The headline earnings per linked unit also saw an improvement, reaching 26.92 thebe, higher than the previous year.
Looking ahead, FPC remains confident in its competitiveness and growth prospects. The company possesses a substantial land bank, which it plans to develop strategically as opportunities arise. FPC aims for managed growth, focusing on consumer-driven developments and ensuring the presence of supportive tenants. By maintaining this approach, the company believes it can sustainably grow its property portfolio and remain competitive in the market.
In terms of the macroeconomic environment, FPC noted that inflation rates are decreasing towards the 3% to 6% range approved by the Bank of Botswana. This is positive news for the company, as it hopes for further decreases in interest rates. However, the fluctuating fuel prices, influenced by global events such as the war in Ukraine and oil output reductions by Russia and other Middle Eastern countries, continue to impact businesses, including some of FPC’s tenants.
FPC’s property portfolio includes notable assets such as a shopping mall in Francistown with Choppies Hyper as the anchor tenant, Borogo Mall located on the A33 main road near the Kazungula ferry crossing, and various industrial and commercial properties in Gaborone leased to Choppies, Senn Foods, and Clover Botswana. The company also owns a shopping mall in Mafikeng and Rustenburg in South Africa.
The majority of FPC’s properties, 85%, are located in Botswana, followed by 12% in South Africa and 3% in Zambia. With its strong financial performance, competitive position, and strategic land bank, FPC is well-positioned for continued growth and success in the property market.