We have all been there at one point or another in our lives, job hunting. It’s not the easiest of feats to complete despite the ease with which the words, “go get a job!” may roll off the tongues of our significant other or family members.
In reality, finding a job is a job in itself! Information is your greatest ally because if you don’t know who is hiring then you are forced to go door-to-door dropping off your CV with companies in the hope that someone will say, “what luck, we were actually talking about hiring someone with your exact skillset just this morning!” Not the likeliest of scenarios as I’m sure you’d agree. So how do we collected this much needed information? Newspapers of course.
This has been the space in which you are guaranteed to find up-to-the-week information about companies that have vacancies. But there’s a catch. Which paper do you buy? Employers have a choice of advertising on any newspaper they choose. Your larger companies with bigger advertising budgets can foot the bill to advertise across multiple papers in any given week.
They do this to increase the reach of the vacancies they are advertising because they don’t know which paper the perfect candidate prefers to read. The job seeker doesn’t have the luxury of knowing what and where vacancies will be advertised, so forced to buy as many newspapers as they can afford for as long as they are looking for a job.
This is the beauty of online job boards. Their purpose is to help you find a job whilst saving you time and money. Online job boards are websites that connect the employer to the employee by sharing up-to-the-minute information. They provide a space where the employers can advertise vacancies in their company that job seekers can find in a central location.
These sites have been around for almost over 15 years now and finally in Botswana we have developed one for our market, Careerpool. This is a job board that will revolutionize the manner in which employers and employees share information with one another. With the cost ranging from negligible to nothing.
As a job seeker you now don’t need to purchase multiple newspapers and troll them for jobs that have been advertised. Careerpool now offers a central location where all available vacancies are listed for you to peruse at your convenience, through whatever device you have at your disposal with internet connectivity.
The timing couldn’t be more perfect for this technology as the telecommunications providers fight to provide the most affordable data for their clients. So this means searching for a job online will not burn a hole in your pocket. Careerpool and other international job boards of its kind boats exciting electronic recruitment functions for both employer and employee. For the job seeker, they can upload their CV to the site and setup job alerts.
This function allows the user to input their desired field of expertise and request to be alerted by mail of all jobs advertised on Careerpool that require the said expertise. So now you are automating your job searching minimizing the work involved!
The job adverts literally come to you on your device wherever you are in the world. True convenience and tangible cost cutting for the job seeker like they have never before seen or experienced. As now the time spent going to the site to check for advertised jobs is brought to a minimal. This kind of convenience is enjoyed by the employer as well.
The job adverts they post on Careerpool are guaranteed to get to the right people within the desired time as a result of them advertising on a centralized location where job seekers are present and have set about automating the process of receiving information on relevant vacancies. It is peace of mind that the fraction of the budget spent advertising on Careerpool will yield the desired result, people knowing about the vacancies and applying accordingly. The e-recruitment functions don’t end there.
I can’t tell you how many companies are struggling with the proper management of the CV’s that they receive on a daily basis. Through no fault of their own, mounds and mounds of CV’s pile up in offices and on desks in human resources departments. CV’s of people who were sent out of the comfort of their homes to, “go find a job!” by loved ones.
Hoping and praying that they are in luck and there is a position available for them at your company. This isn’t always true, in fact almost never. If companies do accept their CV’s they just join the pile of obscurity and are lost amongst all the others that came before it. But here’s the thing, your skill and experience might be of great value to the company at a later stage but now finding you in the heaps of non-impressive CV’s is a tall task for any practitioner.
Careerpool allows employers the opportunity to start their own digital talent pool within Careerpool. A talent pool that belongs to only them. When companies place adverts they can instruct candidates to apply directly to the site thereby growing this pool. Once the advert is closed and the candidate has been selected the unsuccessful candidates don’t get thrown out into the CV graveyard. Now they will form the basis of your talent pool.
A pool that you can come back to at a later stage with a new vacancy, if the system, instructed by you, deems they have fulfilled the minimum requirements outlined in your advert. The candidates who had previously applied and were unsuccessful may just be the perfect candidates for upcoming jobs. Nifty right? There is a fractional cost option to advertise jobs online through sites like Careerpool. They have a great reach and appeal with job seekers.
Not to mention the e-recruitment functions that go beyond just advertising. It’s easy to see why job board technology is here to revolutionize the recruitment process forever. It takes the work, out of finding a job! So whether job seeker or hr practitioner, search www.careerpoolbotswana.com, the job board designed for Batswana to reap the benefits of this world wide technological advancement.
Following a devastating first half of the year 2020 due to COVID-19, the global diamond industry started gaining positive momentum towards the end of the year as key markets entered into thanks giving and holiday season.
However Bruce Cleaver, Chief Executive Officer of De Beers Group cautioned that the industry is not out of the woods yet, citing prevailing challenges ahead into 2021.
The first half of 2020 was characterized by some of the worst challenges in history of global diamond trade.
The midstream, where rough diamonds are traded in wholesale and bulk to cutters and polishers, was for the most part of second quarter 2020, suffocated by international travel restrictions as countries responded to the contagious Corona Virus.
This halted movement of buyers and shipment of the rough goods , resulting in unprecedented decline of sales, in turn ballooning stockpiles as the upstream operations produced with little uptake by the midstream.
The situation was exacerbated by muted demand in the downstream where jewelry industries and tail end retailers closed to further curb the spread of COVID-19.
However towards the end of third quarter getting into the last quarter of the year, demand in both midstream and downstream started to steadily pick up as countries relaxed COVID-19 restrictions.
De Beers, the world’s largest diamond producer by value started reporting significant recovery in sales in the sixth and seventh cycle, figures began to reflect an upswing in sentiment as well as increase in uptake of rough goods by midstream.
Sales for the sixth cycle amounted to $116 Million, following a sharp downturn in the previous cycles, significant jump was realized during the seventh cycle, registering $320 million, an over 175 % upswing when gauged against the proceeding cycle.
De Beers noted that diamond markets showed some continued improvement throughout August and into September as Covid-19 restrictions continued to ease in various locations.
“Manufacturers focused on meeting retail demand for polished diamonds, particularly in certain product areas, accordingly, we saw a recovery in rough diamond demand in the seventh sales cycle of the year, reflecting these retail trends, following several months of minimal manufacturing activity and disrupted demand patterns in all major markets,” said De Beers Chief Executive, Bruce Cleaver in September last year.
The diamond mining behemoth continued to register impressive sales in the eighth and ninth cycle signaling the industry could end the year on a positive note.
The momentum was indeed carried into the last cycle of the year. The value of rough diamond sales (Global Sightholder Sales and Auctions) for De Beers’ tenth sales cycle of 2020 amounted to $440 million, a significant increase from the 2019 tenth sales cycle value.
Against what seemed like a positive year end that would split into the New Year Bruce Cleaver, CEO, De Beers Group, however warned the industry not to count eggs before they hatch.
“Positive consumer demand for diamond jewellery resulting from the holiday season is supporting the continuation of retail orders for polished diamonds from the diamond industry’s midstream sector. This in turn supported steady demand for De Beers’s rough diamonds at our final sales cycle of 2020,” Cleaver had said in December.
In caution the De Beers Chief noted that “While the diamond industry ends the year on a positive note, we must recognise the risks that the ongoing Covid-19 pandemic presents to sector recovery both for the rest of this year and as we head into 2021.”
All segments of the supply chain were severely impacted by the global lockdown measures introduced in response to the Covid-19 pandemic in the first half of 2020.
After a strong US holiday season at the end of 2019, the rough diamond industry started 2020 positively as the midstream restocked and sentiment improved.
However, from February 2020, the Covid-19 outbreak began to have a significant impact on diamond jewellery retail sales and supply chain, with many jewelers suspending all polished purchases and/or delaying payments to their suppliers.
Rough diamond sales were materially affected by lockdowns and travel restrictions, delaying the shipping of rough diamonds into cutting and trading centers and preventing buyers from attending sales events.
These resulted in significant decline in total revenue for the business in the first six months of 2020. Total revenue decreased by 54% to $1.2 billion from $2.6 billion registered in the prior half year period ended 30 June 2019.
For the entire first six (6) months of the year 2020 De Beers Rough diamonds sales fell drastically to $1.0 billion from $2.3 billion in the prior H1 period ended 30 June 2019. Sales volumes decreased by 45% to 8.5 million carats compared to 15.5 million carats registered in the prior period.
Next month Minister of Finance & Economic Development, Dr Thapelo Matsheka will face the nation to deliver Botswana‘s first budget speech since COVID-19 pandemic put the world on devastating economic trajectory.
The pandemic that broke out in late 2019 in China has put the entire world on unprecedented chaos ,killing over P1 million people across the globe , shattering economies and almost rendering the year 2020 – a 12 months stretch of complete setback.
The 2021/22 budget speech will come at time when Botswana’s economy is still trying to emerge out of this.
National lockdowns and local travel restrictions have hit small medium enterprises hard, while international travel restrictions halted movement of both good and people, delivering by far some of the heaviest and worst catastrophic blows on the diamond industry and tourism sector, the likes of which this country has never seen before on its largest economic sectors.
As Minister Matsheka faces parliament next month, the reality on the ground is that Botswana’s national current cash resource, the Government Investment Account (GIA) is depleting at lightning speed.
On the other hand the COVID-19 economic mess is prevailing, the virus is reported to have taken a new dangerous shape of a deadly variant, spreading like fueled veld fire and causing some of the world’s super powers back to tough restrictions of lockdown.
According official figures released by Bank of Botswana, in October 2020 the GIA was running at P6 billion compared to the P18.3 billion held in the account in October 2019.
However reports indicate that the account could be currently holding just about P3 billion. The draw down from the GIA has been by exacerbated by declining diamond revenue, the country‘s largest cash cow. The sector was experiencing significant revenue decline even before COVID-19 struck.
When the National Development Plan (NDP) 11 commenced three (3) financial years ago, government announced that the first half of the NDP would run at a budget deficits.
This as explained by Minister of Finance in 2017 would be occasioned by decline in diamond revenue mainly due to government forfeiting some of its dividend from Debswana to fund mine expansion projects.
Cumulatively, since 2017/18 to 2019/20 financial year the budget deficit totaled to over P16 billion, of which was financed by both external and domestic borrowing and drawing down from government cash balances.
Taking into account the COVID-19 economic mess in 2020/21 financial year, the budget deficit could add up to P20 billion after revised figures.
Drawing down from government cash balances to finance these budget deficits meant significant withdrawals from the Government Investment Account, hence the near depletion of this buffer.
Meanwhile should Botswana’s revenue streams completely dry up to zero levels; the country would only have 11 months, before calling out for humanitarian aids and international donors, because foreign reserves are also on slow down.
During 2019, the foreign exchange reserves declined by 8.7 percent, from Seventy One Billion, Four Hundred Million Pula (P71.4 billion) in December 2018 to Sixty Five Billion, Three Hundred Million Pula (P65.3 billion) in December 2019.
The reserves declined further in 2020, falling by 2.3 percent to Sixty Three Billion, Seven Hundred Million Pula (P63.7 billion) in July 2020. This was revealed by President Masisi during State of the Nation Address in November last year.
The decrease was mainly due to foreign exchange outflows associated with Government obligations and economy-wide import requirements.
However latest statistics(October 2020) from Bank of Botswana reveal that Botswana’s foreign reserves are estimated at P58.4 billion, with government’s share of these funds significantly low.
Government has since introduced several measures to contain costs and control expenditure with the most recent intervention being the halting of recruitment in government departments and parastatals.
Furthermore, Value Added Tax has been signaled to go up from 12% to 14% in April this year with more hikes and service fees anticipated as government embarks on unprecedented domestic revenue mobilization.
Botswana Stock Exchange listed hotel group Cresta Marakanelo Limited (“CML” or “the Company”) announced the signing of a lease agreement for Phakalane Golf Estate Hotel & Convention Centre, which will see CML extend its footprint by adding the 4 star Gaborone property to its already impressive portfolio. The agreement is subject to regulatory approvals therefore the effective date of the transaction is expected to be 1 February 2021.
CML brings a wealth of expertise to the lease and despite the difficult year for the tourism and hospitality industry, due to the impact of the COVID-19 pandemic, CML remains confident in the recovery of the sector and the need to invest in expanding the Company’s footprint.
CML Managing Director, Mr Mokwena Morulane commented: “Our continued efforts to improve our offerings, understand the market dynamics and modern day trends in the face of global challenges, means we are ready for the changing face of tourism and international travel, and this addition to the Cresta portfolio signals our confidence in the future.
“Despite the headwinds faced in 2020, Management has continued to focus on projects that enhance CML’s product offering such as the refurbishments at Cresta Mowana Safari Resort & Spa in the tourism capital Kasane and the ongoing refurbishment of Cresta Marang Residency in Francistown. The signing of the lease for the 4 star Phakalane Golf Estate Hotel & Conference Centre is a great addition to the Cresta portfolio and will unlock shareholder value in the future.
“We remain vigilant to value-enhancing opportunities including acquisitions or leases, after having reconsidered our pipeline against current and expected market conditions.”
Commenting on the lease agreement, the Chief Executive Officer, Mr S Parthiban, speaking on behalf of Phakalane noted; “No hotel chain holds as much expertise in the region, understands our local culture and tastes and what hospitality is about better than Cresta Marakanelo Limited. We believe that the renovations done to the property has made Phakalane Hotel and Convention Centre a unique product in Botswana and at par with international facilities. We believe that this lease will benefit not only us as Phakalane , but the market in general as Cresta has run hotels successfully in Botswana for over 30 years and is therefore expected to bring new offerings that appeal to the local and international markets as well as the residents and visitors to the Golf Estate. We look forward to a long mutually beneficial relationship with Cresta.”
CML like the rest of the tourism and hospitality industry and the entire value chain was hard hit by lockdowns with the surge of COVID-19. By investing during the low period, the company hopes to realise the future value of spending time in preparing for the new consumer dynamics and behaviour. Despite business interruptions as a result of a six-month long state of emergency and several lock-down periods declared by the Government of Botswana to limit the spread of COVID-19, the Company is starting to record an increase in occupancies, which bodes well for the recovery of the industry and the Company’s future prospects.