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Barclays introduces lets get up and go for youth


As part of efforts to address the numerous challenges that young Batswana face Barclays Bank Botswana has introduced a “let’s get up and go” motive for vulnerable youth in Ngamiland district.

Barclays Bank Botswana in partnership with UNAIDS and Project Concern International (PCI) has since December 2014 been implementing a Youth Education and Empowerment Project (YEEP) named Tweende which translate to “lets get up and go”.  Barclays bank funded the one year project to the tune of 1 Million Pula. The project targets vulnerable young people aged between 18-35 years in the Ngamiland East District.

Other partners in the project include PCI Botswana, Botswana Family Welfare Association (BOFWA), Youth in Business Botswana (YIBBO) and Ngamiland Council of Non- Governmental Organizations (NCONGO).

The aim of the project is to provide employability, income generating opportunities and also reduce youth vulnerability to social ills such as HIV/AIDS. According to Barclays bank the four facets of the Tweende project is to;

“Provide financial literacy education to the target of 750 youth who will be trained in financial management skills and also linked to financial services. Give training on social life skills to around 300 youths. Also in partnership with private companies and government some will be trained on employability skills through being placed in jobs. Teach youth entrepreneurship skills and increased opportunities with 50 youth being assisted with their businesses start and also provide mentoring to them.”

According to Barclays Bank, by the end of February 2015, the project had successfully implemented some of its aims with 826 youth reaching with basic financial literacy skills using Barclays’ financial literacy curriculum of money matters, surpassing the project target of 750 youth.

Also of the 826 who attended the financial literacy training, 687 passed a rigorous  selection process to qualify for the next level of Aflateen that teaches them social and life skills, 354 has already graduated from Aflateen recently.

Tweende project was this week launched in Maun; the event attracted a number of public figures which among them was the Minister of Youth, Sports and Culture Thapelo Olopeng, United Nations Resident Coordinator Anders Pedersen, PCI Country Director Dorothy Tlagae and the Barclays Bank Botswana Managing Director Reinette Van Der Merwe.

At the launch, Barclays’ Van Der Merwe said that the Tweende project forms an integral part of the Barclays strategy on youth employability, enterprise and financial literacy skills which is the bank’s primary focus under its “five million young futures strategy” which is in its final lap. She added that Barclays aims to equip young people with skills that can help them be active and participating citizens in the development of the country.

“Unemployment is a major problem for the country and it can be a foundation for other social ills that impact on youth such as HIV/AIDS, alcohol abuse, teenage pregnancy among others. This needs a multi pronged approach when addressing them. The project is also necessary for the country to be able to meet the goals of vision 2016 and the revised national youth policy that seeks to give youth every opportunity to reach their full potential as members of the society,” Van Der Merwe expressed.

According to 2011 population Census, Maun is the 3rd largest village in Botswana having a population of 60 263, with an additional 5 430 coming from surrounding villages. The youth aged 20 -34 years are reported to account for 56% of the population with 25% of them being unemployed.  Also HIV prevalence in the Ngamiland district is reported to be at 13.5% (10.6% being males and 15.4 as females).

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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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