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Standard Chartered is Best Global Consumer Digital Bank

Standard Chartered has won the “Best Global Consumer Digital Bank” award from Global Finance for the sixth year in a row, edging out 261 other banks.

At Global Finance’s annual World’s Best Digital Bank Awards in London last week, the Bank also picked up awards for:

  • Best Global Consumer Mobile Banking
  • Best Global Consumer Mobile Banking App
  • Best Global Information Security Initiatives
  • Best Consumer Digital Bank Middle East & Africa

Karen Fawcett, CEO, Retail Banking, commented, “These wins represent welcome recognition of our standing in the industry and the progress we are making with our digital agenda.”  Earlier this year, Global Finance recognised Standard Chartered as “Best Consumer Digital Bank” in 15 countries across our footprint, Botswana included.

Standard Chartered last year announced it will invest USD1.5bn in technology over three years and the wins reflect the bank’s commitment to deliver the latest in digital banking innovation to its clients across Asia, Africa and the Middle East.

The bank recently announced it will be rolling out a suite of cutting-edge fingerprint and voice biometric technologies so clients can securely access their bank account balances, cards and investments using their unique fingerprint or voice as identifiers.  Reaching more than 5 million clients, this is the most extensive roll-out of fingerprint biometric technology by any international bank and a first in most markets.

In July, Standard Chartered announced the roll out of chat and video banking in nine markets by end of 2016 and, earlier this year, it launched a digital “bank on an iPad” in eight new markets; this sales-and-service tool lets clients open an account in any location and makes banking services such as loan approvals and credit card issuance fast, simple and completely paperless.

The Bank has also just rolled out a new mobile and online banking platform to eight markets in Africa, bringing cutting-edge digital channels to 1 million clients in the region.

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China’s GDP expands 3% in 2022 despite various pressures

2nd February 2023
China’s Gross Domestic Product (GDP) expanded by 3% year-on-year to 121.02 trillion yuan ($17.93 trillion) in 2022 despite being mired in various growth pressures, according to data from the National Bureau Statistics.

The annual growth rate beat a median economist forecast of 2.8% as polled by Reuters. The country’s fourth-quarter GDP growth of 2.9% also surpassed expectations for a 1.8% increase.

In 2022, the Chinese economy encountered more difficulties and challenges than was expected amid a complex domestic and international situation. However, NBS said economic growth stabilized after various measures were taken to shore up growth.

Industrial output rose 3.6% in 2022 over the previous year, while retail sales slightly shrank by 0.2% data show that fixed-asset investment increased 5.1% over 2021, with a 9.1% hike in manufacturing investment but a 10% fall in property investment.

China created 12.06 million new jobs in urban regions throughout the year, surpassing its annual target of 11 million, and officials have stressed the importance of continuing an employment-first policy in 2023.

Meanwhile, China tourism market is a step closer to robust recovery. Tourism operators are in high spirits because the market saw a good chance of a robust recovery during the Spring Festival holiday amid relaxed COVID-19 travel policies.

On January 27, the last day of the seven-day break, the Ministry of Culture and Tourism published an encouraging performance report of the tourism market. It said that domestic destinations and attractions received 308 million visits, up 23.1% year-on-year. The number is roughly 88.6% of that in 2019, they year before the pandemic hit.

According to the report, tourism-related revenue generated during the seven-day period was about 375.8 billion yuan ($55.41 billion), a year-on-year rise of 30%. The revenue was about 73% of that in 2019, the Ministry said.

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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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