Parliament lobbied to divert NDP 11 funds to Phikwe
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Tati East Member of Parliament, Samson Guma has called on legislators to sacrifice projects allocated to their constituencies and instead divert the funds to Selebi Phikwe, which plunged into economic crisis following the closure of the BCL mine last month.
The BCL closure has been viewed across the entire political divide as the worst economic crisis ever to hit the country apart from the 2008 global economic recession. Although the Minister of Finance and Development Planning, Kenneth Matambo, has indicated that the closure of BCL will have a minimal impact in the country’s overall economic growth, it is generally agreed that the development will leave the people in Selebi Phikwe and surrounding areas in dire economic status.
Guma expressed that when government conceptualised the plan, it was not anticipating the closure of BCL and Tati Nickel or that people in those areas would be under such difficult economic conditions. “We need to be very open and honest as Members of Parliament that there may be a need for us to adjust this plan to accommodate the challenges that we are facing,” he said.
“It cannot be business as usual when people in Selebi Phikwe and Francistown have no jobs. It cannot be. If the plan does not address these particular issues we need to look at it very carefully and say what we are going to do.” The maverick MP remarked that it is imperative for MPs to make amends to the NDP 11 Plan in order to make some sacrifices because once the plan is passed as it is, it could no longer be changed.
“If I had a project in my constituency that may have to be deferred to cater for the issues as arising in Selebi Phikwe and Francistown, I would forgo that project because the situation as is right now requires that all of us make sacrifices,” he stated. According to him, the budget should be focused on what is seen as having economic growth potential for the country in the next six years and also showing potential to grow targeted sectors.
“If the focus of unpacking economic growth lies in agriculture, we are going to be looking at the budget allocation for agriculture. If at some point in time we find that the budget allocation in here does not assist us in terms of realising this theme, we must look at it very carefully,” he said. “There is no point in building roads in areas that do not assist us with economic growth even if it gives us political advantage.
Look, at some point in time if it means me losing my popularity and losing a constituency but the country benefits, so be it,” he said. Furthermore, the one time Assistant Minister of Finance and Development Planning remarked that infrastructural projects in the NDP 11 must be aimed at basically attending to what government sees as having potential for growing the economy.
“Economic growth is key and without economic growth you have got no employment. You cannot fight poverty eradication issues when an economy is not growing.” Meanwhile, Member of Parliament for Gaborone Bonnington South, Ndaba Gaolathe stated, when debating the plan that in order for government to realise significant growth, its NDP 11 should be linked with the country’s vision.
“In the Vision 2036, the overall vision is Botswana to achieve a high income status; very clearly as a vision. What I am saying is that, that is not coming out in the National Development Plan. What I am saying is that, it needs to be coming out at every corner that this is the vision, this is where we need to go,” he said.
Gaolathe contended that the first thing that Botswana needs as a country is to agree and decide that the country needs to develop only a few globally competitive sectors or clusters and grow them to a major scale and grow them aggressively and put everything on these forecast clusters. He mentioned the Tourism Cluster, the Diamond Cluster, the Cattle and Agricultural Cluster, the Financial and Services Cluster as the sectors that Botswana need to give the biggest fight.
“The second principle is that we need to be able or we need to build and attract globally competitive manpower. This should speak to the manner in which we train our people, the manner in which we target those who should come and how easy we should make it for them to come to this country,” he said. Gaolathe further added that government would also have to create an environment in which it is easy for industry and different stakeholders to take up technology, to go into business and achieve what needs to be achieved.
“You also need to create targets for yourselves as a country so that after five years, we are able to account for our achievement and failures and be able to say that we have achieved this or not.” Bogolo Kenewendo, a renowned rising economist and newly nominated Specially Elected MP also made her debut contribution in the legislative house.
The youthful MP stated that government should spend ‘smart’ and put its money not only in areas where it has comparative advantage but also in areas where it has competitive advantage. Kenewendo indicated that business confidence has declined from 82 percent in 2008 to 36 percent in 2016 and noted that government can no longer afford to let it go lower than that.
“The main concerns are to do with water and electricity, I see those two are prioritised but we need the speed to regain back the confidence and growth rates to pre-economic downturn,” she said. “The buzz word nowadays is disruption. Things are moving at a light speed pace and we need to respond and adapt in an agile manner. We need to pick up our pace in relation to this agenda and be able to compete with the best; Rwanda, Mauritius and Singapore.”
Kenewendo, who had a short stint working for Ghana’s Ministry of Trade and Industry as a Trade Economist prior to being elected to parliament, highlighted that there is need for parliament to look at the NDP 11 through youthful lenses and use it as an opportunity to cement the foundation that will carry the nation to the end point of a generation’s horizon.
“Our population structure has changed. We have a youth bulge which has led to the growth of the working age population from 46.9 percent in 2001 to 64.9 percent in 2011. Our dependency ratio has also changed as a result, when previously we would only focus on the ratio of those aged 0-14 and 65 upward to that of working age, we now have to consider some of those among the working age as dependents too,” he said.
“This is as a result of high unemployment in our country. I believe that with this glaring reality, we can therefore justifiably say that this document should have a youthful face, represents the hopes and dreams of young people.”
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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.