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Business Botswana recruits in Letlhakane

Business Botswana, formerly Botswana Confederation of Commerce Industry and Manpower (BOCCIM) is hard at work in Letlhakane, mobilising the business community and engaging in an intensive recruitment drive that would lead to the organisation setting up office in the region.

BOCCIM Regional Manager, Mr Kebaabetswe recently visited the village, to interact with the business community and spell out their roadmap.

In an interview with the chairperson of the Letlhakane Business Community and Business Botswana representative in Letlhakane Mr Anthony D’souza Dancho following their series of meetings with the business community, he said Business Botswana (BB) is on a recruitment drive in Letlhakane to raise awareness about its role and the need for the Boteti business community to be represented at the highest business consultative council in the country.

He said owing to the recent transformation developments where BOCCIM changed its name to Business Botswana, it was necessary for the organization to clearly spell out its mandate and engage with businesses across the spectrum and on the ground to sensetise them on their new role and roadmap.

Mr Dancho said there is need for the business community to come together to speak as a collective and with one voice on issues that concern them and on community developments initiatives.

He said if the Boteti business community agreed on one vision and on combining their collective resources and capabilities, the bustling mining region would become a vibrant centre of developments.  He said business owners have a role to play in assisting the government to create employment and prepare an enable and responsive environment for businesses and communities to prosper.

One of their plans he revealed is to set-up an office in Letlhakane to relive the Regional office in Francistown of the workload and help with mobilization of the business community to unite under one body.

He said subsequent to their consultations, businesses in Boteti would be grouped according to their sectors to represent their interests in the apex body of Business Botswana.

“our plan is for taxi drives to have a representative, farmers, hair salons, property investors, hardware shops and others to also have a representative who will represent them in the regional body and ultimately at the highest structures so that their issues and perspectives can be known and addressed.”  He said.

He called on the Letlhakane business community to join Business Botswana to help address the transformation challenges that require businesses to partner with the government to develop the country.  He said the business community can no longer be spectators in developments and that working together they can build schools and recreational facilities for communities without government handouts or assistance.

He said the government can also play a role of nudging them forward by making it compulsory for businesses to subscribe to Business Botswana when registering to operate in Botswana as that would go a long way in incentivizing them to recognize their crucial role in society and play it accordingly. He said businesses should not fear membership fees but should see the vision and huge potential of an organized business community that is united and speaks with one voice.

He said businesses should view it as their innate role to support a self-funded Business Botswana as a membership organization that can thrive with their support and in turn help drive the country to massive success. 

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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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