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Ngamiland hosts revived regional trade expo

Second instalment of show after 28 year absence

The second edition of Ngamiland International Trade and Agricultural Expo (NITAEX) will be held end of July this year. NITAEX, which aims to showcase the business potential of the Ngamiland area and also a business culture among the residents of the area, will run under the theme: Unlocking economic development through tourism and agriculture.

The Expo will be held at Matshwane showgrounds in Maun and will run from 28 July to 1 August, 2015.

Event coordinator, Boyce Sekgoma, told BusinessPost that the show aims to improve the quality and productivity of producers in the region, by exposing them to the international community as well as creating competition among them.

Sekgoma said that the first Expo in 2014, was a success, in view of the fact that it attracted a lot of interest from the both exhibitors and attendees alike. “Though we had teething problems such as having to debush the showgrounds as well as being self sponsored, the Expo was a success last year and we are looking at growing it this year,” he said. Sekgoma said that with better marketing and a social media presence, “we have been getting very good feedback.”

Unlike in the previous year, the coordinators have pulled some corporate sponsors for the auxiliary activities of the show such as a football tournament and beauty pageant and are in discussions with potential sponsors for scenic flights in the area.

It is understood that regional trade expositions in Botswana died due to the voluntary nature of the work that was expected of organisers, hence lacking commitment and prioritising of other matters over the Expos and their organising functions.

After a 28 year absence of any expo in Ngamiland, Sekgoma saw it fit to approach the traditional leadership and the local government to get a mandate to organise the Expo. “For a long time, we had to rely on the Ghanzi agricultural show to exhibit out products but now we have something of our own that we can be proud of,” said Sekgoma.

“As a private players, we are able to mobilise all the linkages necessary for a successful Expo,” adding that organising committees should learn to outsource the organising function in order to have successful expositions.    

“This area has very fertile soils and water and it can be turned into a horticultural hub, and we also have to find markets in places such as Angola for our meat and meat products.”

The Ngamiland region has suffered a cattle lung disease outbreak in 1996, as well as a chronic foot and mouth disease challenge to its cattle farming, over the years, which has nearly brought cattle farming to its knees.

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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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