Connect with us

Inflation further eases in September

The drop in retail pump prices has seen the annual inflation rate in September 2015 ease down to 2.9 percent, a decrease of 0.1 of a percentage point on the August 2015 rate of 3.0 percent.

The latest inflation figures falls beyond the 3-6 percent target range set by the Bank of Botswana, bolstering prospects of an interest rate cut by the central bank.

Inflation which the Bank of Botswana tracks was lower than the 4.5 percent recorded during the same month in 2014.

Statistics Botswana has attributed the fall to the Transport group index which registered a drop of 1.1 percent, from 164.6 in August to 162.8 in September. This was mainly attributed to a decrease in the constituent section index of Operation of Personal Transport, which went down by 1.8 percent.

“The decline in Operation of Personal Transport section index was due to the drop in retail pump prices for petrol and diesel by P0.15 and P0.40 per litre respectively, which effected on the 4th September 2015,” SB stated.

Statistics Botswana data indicate that the September national Consumer Price Index registered an increase of 0.1 percent, moving from 182.8 in August 2015 to 183.1 in September 2015. The Rural Villages’ index realized an increase of 0.3 percent, moving from 188.9 to 189.5. The Cities & Towns’ index went up by 0.1 percent, from 181.3 to 181.5, while Urban Villages’ index remained unchanged at 181.6 between the two months.

The data shows that the inflation rates for regions between August 2015 and September 2015 that Urban Villages’ went down to 2.8 percent from 3.0 percent, Cities & Towns went up to 2.9 percent from 2.8 percent and Rural Villages’ dropped to 3.3 percent from 3.4 percent.

The red flag is on the Housing, Water, Electricity, Gas and other Fuels group which recorded an increase. This was largely attributed to a rise in the constituent section index of Rent paid by tenants, which went up by 5.1 percent.

The Alcoholic Beverages, Tobacco & Narcotics group index recorded a decline of 0.7 percent, from 262.6 in August to 260.8 in September. This was due to a drop in the constituent section index of Alcoholic Beverages.

All-Tradable inflation rate was 1.1 percent in September, a decrease of 0.3 of a percentage point on the August 2015 rate of 1.4 percent. The Non-Tradable inflation rate recorded a rise of 0.6 of a percentage point, from 6.8 percent in August to 7.4 percent in September.

The Imported Tradable inflation rate decreased from 0.6 percent to 0.2 percent between August and September while Domestic Tradable inflation rate recorded a drop of 0.2 of a percentage point, from 2.9 percent in August to 2.7 percent in September 2015.

Continue Reading


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.

Continue Reading


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.

This content is locked

Login To Unlock The Content!

Continue Reading


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.

Continue Reading