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200 billion Pula splash

The National Development Plan (NDP) 11 has been presented to Parliament and lawmakers are making their input accordingly in Parliament. It is evident that the next six years almost P200 billion will be spent during the six years of the NDP 11 which has been aligned to the new Vision 2036 aspirations.


The NDP 11 indicates that Botswana will spend heavily on security issues including territorial protection, infrastructure development, as well as maintenance of existing structures across ministries.  The 2019 general elections will also gobble a couple of millions between now and 2023.


A number of observers have called on the government to ensure that the NDP 11 focuses more on empowering citizens and leveraging the private sector. Several mega projects are included in the NDP 11 and as usual government has been urged to be more vigilant when it comes to implementation if the NDP 11 is to help propel this country into a high income bracket.


IEC NEEDS P439.9 MILLION FOR 2019 ELECTIONS
A total of P439.9 million will be spent on the Independent Electoral Commission (IEC) between 2018 and 2022. The bulk of the money P288.9 million will go towards the 2019 general elections while P147.8 million paying for the Electronic Voting Machines (EVMs) and P1.1 million being utilised on the review of the Electoral Process. 

The opposition has threatened to take government to court over the EVMs. It is no secret that the 2019 general elections are highly anticipated because of several factors, with the opposition aiming to topple the ruling Botswana Democratic Party (BDP) then.

Another twist is the expected change of guard in the Presidency of the country, with Lt Gen Dr Ian Khama’s term coming to an end in 2018, hence there is no doubt that Botswana will have a new president after the 2019 general elections. The IEC has already started preparing for the elections; in 2017 they will spend P1.1 million in the review of the electoral process; P100 million in the EVMs followed by P36.6 million in 2018/19 and P12.2 million in 2019/2020.  


DIS WILL SPEND OVER P1. 6 BILLION IN SIX YEARS
The Directorate on Intelligence and Security (DIS) will also see a substantial spending during NDP 11. It is evident that security is one of the top priorities of the current government. The DIS is expected to spend P1, 668.5 million in the next six years, with the amount spread evenly during the financial years. The money will be spent on DIS communications; Infrastructure; computer equipment, vehicles and other functionaries.


DCEC PALTRY SHARE
Only P69 million will be spent on the Directorate on Corruption and economic Crime (DCEC) in the next six years. The DCEC will only get a fleet expansion in starting inn 2020/21 to the tune of P4 million. Another P4 million will be availed in 2021/22 and another in 2022/23. P0.4 million will be allocated for organisational structure review during the 2020/21 financial year. More than half, P36 million, will be used for provision of staff residential accommodation and it will be availed in batches starting from 2020/21 financial year.

The DCEC technical works program will claim P18 million from the total budget. There is an additional P7 million budgeted for the DCEC case management system.


SOCIAL PROTECTION GETS OVER P2 BILLION
Government will continue to put emphasis on social protection. The Poverty Eradication Programme gets the large chunk in the budget, with P2, 172.8 million budgeted for this programme. An Emergency Operating Centre will be established at the tune of P30 million, with P5 million spent over the course of the six years. P8 million has been set aside for a Disability Economic Empowerment Programme.


CONSTRUCTION, MAINTENANCE PLENTY AT EDUCATION MINISTRY
Secondary education will see a number of projects being implemented. A Unified secondary School will be built in Tsabong at the tune of P100 million during the 2017/18 financial year and will be completed during the 2018/19 financial year. Another Unified Secondary School will be built in Takatokwane also at the tune of P100 million while Francistown and Maun will see construction of a Junior Secondary Schools at the tune of P80 million each.

P269 million has been budged and apportioned equally across the six years for expansion of junior secondary schools. P43.4 million will be used for maintenance of junior secondary schools. Secondary Schools staff housing has been allocated P654.9 million starting with P422.1 million budgeted for the 2017/18 financial year. A Centre for Severe and Multiple Disability is lined up for Maun to the tune of P200 million while Francistown will get a Learner Assessment Centre valued at P20 million.  


LOCAL GOVERNMENT INFRASTRUCTURE DEVELOPMENT
The Ministry of Local Government and Rural development will also spend heavily on social welfare programmes and infrastructure development. P5, 238.0million is reserved for social welfare programmes while there is a whooping P922.5 million for infrastructure development. The infrastructure includes internal roads among others. P928.4 million will be used for Primary Schools infrastructure backlog eradication in all districts. Local construction companies are expected to be bankrolled by these budget which available between financial years 2017/18 and 2019/20.


MORE SPENDING ON WATER AND ENERGY
Close to P9 billion will be spent on water infrastructure development.  The North South Water Carrier project Palapye-Mmashia will need about P5 billion over the next six years.  P700 million will be needed in the financial year 2017/18.  Kanye will be connected to the NSC during the 2018/19 financial year with a budget of P150 million in 2017/18 and P300 million in 2019/2020. P400 million is needed for the Gaborone-Mmamashia pipeline; Thune dam pipeline works need P590 million by 2023. Several other pipeline projects are expected to be implemented to the tune of millions of Pula. Sanitation works have also been budgeted for to the tune of P3 815.3 million.

Power generation and distribution will need P3, 865.6 million. Morupule A refurbishment needs P600 million between financial years 2017/18 and 2019/20. P814.6 million is reserved for Rakola substation during the financial years 2018/19 and 2020/21. Rural village electrification and network extension has P650 million budgeted for the next six years. Botswana Power Corporation (BPC) will be supported with P10 billion in the next six years.


BDF AND BOTSWANA POLICE SERVICE
Strengthening of Botswana Defence Force (BDF) capabilities has been given priority in the next six years. BDF will spend P14, 830.5 million in the next six years. Botswana Police Service will be strengthened during the next six years with P2, 420.0 budgeted. A number of police stations and posts will be constructed across the country. Police houses and maintenance of existing structures also dominate the budget

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BTC launches the 3rd Francistown Marathon 2024 and handover proceeds to the 2nd Francistown Marathon beneficiaries

8th December 2023

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

8th December 2023

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

6th December 2023

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.

 

 

 

 

 

 

 

 

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