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Botswana comes 88th in Human Capital Index

Botswana has slipped nine places down, from position 79 in 2013, to 88 in the world, in the recent Human Capital Index ratings published by the World Economic Forum. Botswana was beaten by Ghana, Zambia and Egypt with Mauritius topping the continent at 72nd place, but performed better than South Africa who came at position 92.

Botswana’s dearth of skilled employees and its poor ability to nurture talent through educating, training and employing its people has been highlighted in a new index from the World Economic Forum (WEF), which ranks the country 88th out of 124 economies.

In terms of perceptions derived from the business community, the country’s capacity to attract talent and retain it stood at 3, 72 on a scale of 1 to 7 with 1 being the worst end of the scale and 7 being the best. The quality of business, maths and science education scored an average 3,57 on the same scale of 1 to 7.

Out of a tertiary enrolment of 39 900, the business, social sciences and law segment had the most enrolments, of just over 14 900 while those studying agriculture stood at a paltry 831.

The collaboration of universities with business on research and development measures in at 3,17 on a scale of 1 to 7. The unemployment rate stands at 17,6 percent while the percentage of workers in vulnerable employment is 14,8 percent. The services sector is the largest employer sector at 29 percent, with most 9 percent doing sales and clerical work.

 Public spending on education is at 9,4 percent of the GDP while internet access in schools is at 3,44 on a scale of 1 to 7.  

The Index covers 124 countries, representing between them 92 percent of the world’s people and 98 percent of its GDP.

The WEF’s human-capital index ranks economies on how well they are developing and deploying their human capital, and creating workforces which are prepared for the demands of competitive economies.

The WEF’s human capital index for the first time measures whether a country is leveraging or wasting its human potential by looking at the level of education, skills and employment available to people in different age groups.

The index takes a life-course approach to human capital, evaluating the levels of education, skills and employment available to people in five distinct age groups, starting from under 15 years to over 65 years. The aim is to assess the outcome of past and present investments in human capital and offer insight into what a country’s talent base will look like in the future.

Globally, Finland tops the rankings of the Human Capital Index in 2015, scoring 86% out of a possible 100. Norway (2), Switzerland (3), Canada (4) and Japan (5) make up the rest of the top five. They are among a group of only 14 nations that have crossed the 80% threshold.

In addition to the 14 countries that have reached 80 percent human capital optimization.

WEF Executive Chairman Klaus Schwab, was quoted at the launch of the report on Wenesday this week, saying,that talent and not capital, will be the key factor linking innovation, competitiveness and growth in the 21st century.  

The WEF’s Africa forum meets in Cape Town, South Africa, on the first week of June, bringing together the region’s political, business and civil society leaders.

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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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