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FNBB’s Smart Device Loan set to boost digital banking

As the old saying goes, don’t work harder work smarter – the same can be said of the way in which you bank. FNBB has launched a Smart Device Loan, a first of its kind in the market which gives customers access to smart devices and enables them to bank digitally and smart.

“Digital banking is no longer something that we can refer to as the “future of banking”. With over 300 thousand registered users on FNBB’s cellphone banking alone, it is clear that smart devices offers banking of now. However, we understand that in order for our customers to bank digitally, they need access to the devices that enable this, which is what our smart device loan offer provides,” says Naco Bolote, Head-Consumer Banking.

FNBB has partnered with suppliers of smart devices namely Sumsung and Apple to offer customers access to a variety of smart devices including smartphones, tablets and laptops. The Smart Devices offering will work in a similar way to applying for a loan. It allows customers to acquire a smart device of their choice, which they can then pay for on a monthly basis for a period of 24 months at very competitive interest rates.

“We are pleased to note that the interest rate on the smart device loan is very market competitive. It compares favourably to the hire purchase system. The Smart Device Loan was initiated with affordability and inclusiveness of our different customers in mind” added Bolote.   

Customers will be advised on which smart devises are available and they will make their choice based on their affordability. They are allowed to buy up to two devices of their choice with no upfront deposit, all they need to pay is an initiation fee of P100. Our supplier partners will then deliver the device to the customer wherever they are within 5 working days of the order at no extra cost. The devices are offered with the manufactures’ full warranty.

“With continuous interest and growth of our smart device offer and digital banking, we will be able to offer more value, convenience and cost savings to our customers, reducing the dependency on cash, building on our digital ecosystem and digital lifestyle,” concludes Bolote.

Thanks to technology, FNBB has been able to put services and solutions in place that help customers to bank easier, more effectively and that exclude having to visit a branch.

“We are constantly on the look out for innovative and convenient products and services which our customers can integrate into their day-to-day lives, and smart devices have become a big part of that. Technology is available to make our lives more manageable, and at FNBB, we pride ourselves in being able to provide simplistic and affordable solutions to our customers,” concluded Bolote.

Standard loan application processes apply and the loan service is available at Airport Junction branch, First Place branch, Kgale Branch, Riverwalk branch and Francistown branch. The loan application requires the following; Omang for citizens/Passport for expatriates; Latest payslip; Proof of residence.

If one does not bank with FNB, they can switch to FNB and have the 1st salary going  through to qualify.

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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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