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BDC starts chopping worthless investors

Botswana Development Corporation (BDC) Managing Director, Bashi Gaetsaloe’s drive to push the Corporation to profitability and eliminate unworthy investments may come down hard on small investors in the BDC portfolio.  

Government’s investment arm is said to be on mission to push out its partnering company at Talana Farms with the view of establishing new partnership with a new partner who has financial muscle.

WeekendPost has been availed with information indicating that Botalana Farms, which jointly operates Talana Farms with BDC has had a troublesome relationship with BDC as the horticultural project continues to struggle. Despite the project showing a promising sign, heavy rains in the past few years soured the relationship between BDC and Botalana Ventures, as the farm suffered financial difficulties.  

BDC has been operating Talana Farms jointly with Botalana Ventures since 2006 and the two entities had enjoyed what looked like a breakthrough for Botswana’s horticultural produce sufficiency. Talana Farms’ General Manager, Jan Willemse, revealed in the past that for future growth the farm was targeting the South African and Namibian market for their produce.

The bone of contention however in the last few years has been the BDC’s unwillingness to put more capital into the project to increase production and even rescue the business from unforeseen fates like the floods which occasionally destroy crops and other produce.  

Close sources at BDC have revealed to this publication that, occasionally when BDC puts in capital to rescue the project, it demands Botalana Ventures, as its partner to repay part of what it put towards the projects, regardless of whether the farm  recovered the money or not. But observers say as business, BDC has every right to make such demands because it has invested.

Sources also revealed that in the last few years, BDC has been sceptical about pumping more money into the project, and if it offers incentive, it does so with “unrealistic demands” on the conditions put on offer.

Informants inside BDC indicate that, the government owned entity holds the view that it has not benefited from the partnership, as it is forced to pump money onto projects, while the farm is struggling to raise the money.

In April 2014, BDC announced the appointment of Bashi Gaetsaloe as the new Managing Director, taking over from Maria Nthebolan, who had resigned a year earlier. The appointment of the new Managing Director saw BDC adopting transformations under the new BDC business model which places more focus on minimizing risks. The arrival of Gaetsaloe has however not changed the perception of the corporation towards the feasibility of Talana Farms under the current partnership.

According to sources, the major concern with regard to Talana Farms’ produce is inability to sell in Botswana as local retailers prefers cheaper produce from neighbouring South Africa which are not necessarily of good quality when compared to Talana Farms produce. Retailers are the biggest buyers of horticultural produce in Botswana.

This publication has also been furnished with information to the effect that, one of the leading local retail giants is said to have expressed desires to take over Talana Farms, and operate it either jointly with BDC, or solely.

BDC Head of Marketing Communications Boitswarelo Lebang could not divulge information to the publication regarding the current relationship between BDC and Botalana Venutres. “This information is confidential between BDC and our joint venture partner,” she said.

“What we can confirm is that BDC insists that all its projects and joint venture companies operate on a sustainable and commercially viable basis,” she added.

The BDC spokesperson could also not confirm nor deny that BDC is courting Choppies Group to establish a new partnership to operate the farm and noted that the information around discussion of such matters is strictly confidential.

“BDC insists that all its projects and joint venture companies operate on a sustainable and commercially viable basis.  If achieving this goals means that the project / JV Company seeks assistance financial or technical from third parties then this is welcome as long as it is done within the scope of our agreement with our JV partner,” she explained.

Lebang said Botalana Ventures is an important and major producer of fresh produce to the local market.  She noted that the fact that Botswana is still importing up to 80% of horticultural produce from South Africa presents a significant opportunity for both Botalana and other local Batswana farmers to step up and fill this demand.

Botalana Ventures Managing Director, who is based fulltime at the farm, could not be reached for comment at the time of going to press.

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6th February 2023

After falling to close the gap on Arsenal by losing to a record breaking goal by Kane at the Tottenham stadium.Manchester City now find themselves being charged by the Premier League with more than 100 breaches of its financial rules following a four-year investigation.

According to BBC , it has referred the club to an independent commission over alleged rule breaches between 2009 and 2018 , and also that Man-city has not been co-operating since the investigation which started in 2018 .

BBC further states that The commission can impose punishment including a fine , points deduction and expelling the club from the Premier league.

The alleged breaches include ,  breaching rules for requiring full details of manager remuneration,from 2009-2010, to 2012-2013 seasons when Roberto Mancini was in charge . Also player remuneration between 2010-2011 and 2015-2016.

The Premier league stated that City breached rules related to UEFA regulations , including Financial Fair Play , from 2013-2014 to 2017-2018 ,as well as Premier League rules on profitability and sustainability from 2014-2016 to 2017-2018

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South Korean Embassy aids students living with disabilities

6th February 2023

South Korean Ambassador in South Africa has donated e-learning equipment through Botswana Red Cross Society (BRCS) to Tlamelong Rehabilitation Centre in Tlokweng recently, in a bid to fine tune the student’s textile skills.  

When talking at the handing over ceremony, Chull-Joo Park, said they agreed with BRCS to give out e-learning equipment to better the training skills of students living with disabilities.

“With the Information and Communication Technology (ICT) equipment and job training skills, we will be able to help the students living with disabilities to do e-learning and to better their education and job training,” said Chull-Joo Park.

It was revealed that the South Korean Embassy approached BRCS with the intent to donate equipment and educational material that includes an embroidery machine, photo copier machine, tablets and interactive boards to be utilized by the trainees.

The industrial printer is a machine that works with embroidery machine to print designs for clothing and it will enable the learners to have more material available to them to facilitate learning.

Through this embroidery machine, students will be exposed to better technologies which ultimately improve the quality of materials they produce. It will also allow students to learn business skills and run profitable ventures.

Smart board gadgets will provide the students with an elevated learning process to be fostered by e-learning. The gadgets provide a more visual element to the learning process, which in turn improves learner mental retention.

Tlamelong Rehabilitation serves the marginalized and underserved less privileged persons living with disability in Botswana. The center offers boarding services, vocational training, social services, physiotherapy and rehabilitation services for young people living disabilities aged 18-35 from across the country over a period of two (2) years per cohort which has a maximum intake capacity of 35. BRCS through International Federation of the Red Cross and Red Crescent Societies (IFRC) have managed to create great working synergy with the South Korean Embassy in Pretoria based in South Africa to support or augment the National Society’s Rehabilitation Centre’s learning challenges.

For his part, BRSC Secretary General Kutlwano Mokokomani said they are delighted to convey their gratitude as BRSC to the South Korean Embassy for donation and they look forward to an enduring partnership for such worthy causes.

“South Korean Embassy’s great gesture will enable trainees to thrive, to fulfil their dreams to become a reality as this equipments will go a long way in creating great impact in the lives of trainees and their families. We wish to convey our sincere gratitude to the South Korean Embassy for their noble gesture of donating the E-learning equipments.”

BRCS offers rehabilitation services spread across three (3) areas in Botswana being Sefhare Stimulation center in Sefhare, Tshimologo stimulation center in Francistown and Tlamelong rehabilitation center in Tlokweng.

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DIS alleges plot to kill Masisi hatched in South Africa

6th February 2023

A dispute is brewing between Botswana and South Africa intelligence agencies over alleged mercenary training camps discovered in South Africa by the Directorate of Intelligence and Security (DIS). 

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