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Successful people have a character

TEBOGO TOTENG
MONEYMIND

The essential thing is not knowledge, but character – Joseph Le Conte

The above quote introduces the central theme to today’s MoneyMind column. Every other thing be it talent, skill, knowledge is inconsequential without the foundation of character. If you possess skill and knowledge they will come to nothing if they are not fortified on principles, good habits and values.


I am sure you will know of talented people across various disciplines whose talents only, were not sufficient to give them success.


Stephen R Covey in his book The Seven Habits of Highly Effective People discusses one of the essential elements that defines a person. When you come to think about it, it so fundamentally true yet thousands and thousands of people are guilty of being personality focused as opposed to being character focused. . We spend more time concerned about what people think about us instead of doing the right thing.


More often we tend to think that when we do good, we are doing it for somebody else but the reality is that our actions are supposed to benefit us. The dispensation of applying principles because we think that is what is right is a commendable but scarce commodity.


There are certain values that are desirable in human interaction; everyone will like to interact with an honest person, an ethical person, a person of high integrity e.tc all of which culminate in trust.  As a leader or entrepreneur you want to be able to trust your team to deliver. But that cannot happen if you do not drum the values and principles that ultimately builds trust.


Companies that are successful understand that central to any strategy should be value. The value gives a company character. Apple has character, Microsoft has a character, fundamentally because their teams understand why the company exists and that is embodied in the values.


Trust is reciprocal, if you trust me with a task and I know that you trust me with that I will want to deliver so that you keep on trusting. A human being is emotive and finds fulfilment in being trusted. The issue of trust focusses on the character than the personality, todays movement should be towards building the character and demanding that a team must abide by certain values. Decision making become easier even when you are not there and success an eventuality.


Society construes and misconstrues a lot of subjects and we end up as reactionaries to issues rather than apply a principle test. This has led to obsessions over personalities and Stephen R Covey describes personality as a tip of the iceberg.

Character is part of the iceberg that is under sea, the larger determining factor which is made of a set of principle, values, habits and ethics. We only see carefully managed characteristics of people which are meant to tally with societal expectations.  In Covey’s words He say, “We want to appear to be instead of actual being”.


Interesting and thought provoking, during the times when leadership was character focused more principles in any subject or discipline were founded. These principles are still true today.


The most important part of human interaction is the character because it determines whether they would be peace or instability. We should spend more of our time building our character than personality traits. When one builds character their life is guided by a set of principles that are applied consistently over time. People who build character apply the same principles whether people are watching or not. It is not about people it is about the principle that you devote your life to and ingraining them in your DNA.


If you develop character, then you develop the inexpendable characteristic of trustworthiness;  there is a sense of predictability about the way you handle your issues, the outcome of your decisions are consistent because they are a set of principles that guides you all the time.


Principle must be the core of the character. The question is why would one want to dwell on building character?


Character is formed by habits that you practice over time. Your habits determine your effectiveness or ineffectiveness. Because character is determined by habits you can choose habits that heralds effectiveness.
Change your habits, change your character and become more productive in all facets of your life.

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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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Business

Global CEOs Back Plan to Unlock $3.4 Trillion Potential of Africa Free Trade Area

23rd January 2023

African heads of state and global CEOs at the World Economic Forum Annual Meeting backed the launch of the first of its kind report on how public-private partnerships can support the implementation of the African Continental Free Trade Area (AfCFTA).

AfCFTA: A New Era for Global Business and Investment in Africa outlines high-potential sectors, initiatives to support business and investment, operational tools to facilitate the AfCFTA, and illustrative examples from successful businesses in Africa to guide businesses in entering and expanding in this area.

The report aims to provide a pathway for global businesses and investors to understand the biggest trends, opportunities and strategies to successfully invest and achieve high returns in Africa, developing local, sub-regional and continental value chains and accelerating industrialization, all of which go hand in hand with the success of the AfCFTA.

The AfCFTA is the largest free trade area in the world, by area and number of participating countries. Once fully implemented, it will be the fifth-largest economy in the world, with the potential to have a combined GDP of more than $3.4 trillion. Conceived in 2018, it now has 54 national economies in Africa, could attract billions in foreign investment, and boost overseas exports by a third, double intra-continental trade, raise incomes by 8% and lift 50 million people out of poverty.

To ease the pain of transition to its new single market, Africa has learned from trade liberalization in North America and Europe. “Our wide range of partners and experience can help anticipate and mitigate potential disruptions in business and production dynamics,” said Børge Brende, President, and World Economic Forum. “The Forum’s initiatives will help to ease physical, capital and digital flows in Africa through stakeholder collaboration, private-public collaboration and information-sharing.”

Given the continent’s historically low foreign direct investment relative to other regions, the report highlights the sense of excitement as the AfCFTA lowers or removes barriers to trade and competitiveness. “The promising gains from an integrated African market should be a signal to investors around the world that the continent is ripe for business creation, integration and expansion,” said Chido Munyati, Head of Regional Agenda, Africa, World Economic Forum.

The report focuses on four key sectors that have a combined worth of $130 billion and represent high-potential opportunities for companies looking to invest in Africa: automotive; agriculture and agroprocessing; pharmaceuticals; and transport and logistics.

“Macro trends in the four key sectors and across Africa’s growth potential reveal tremendous opportunities for business expansion as population, income and connectivity are on the rise,” said Wamkele Mene, Secretary-General, AfCFTA Secretariat.

“These projections reveal an unprecedented opportunity for local and global businesses to invest in African countries and play a vital role in the development of crucial local and regional value chains on the continent,” said Landry Signé, Executive Director and Professor, Thunderbird School of Global Management and Co-Chair, World Economic Forum Regional Action Group for Africa.

The Forum is actively working towards implementing trade and investment tools through initiatives, such as Friends of the Africa Continental Free Trade Area, to align with the negotiation process of the AfCFTA. It identifies areas where public-private collaboration can help reduce barriers and facilitate investment from international firms.

About the World Economic Forum Annual Meeting 2023

The World Economic Forum Annual Meeting 2023 convenes the world’s foremost leaders under the theme, Cooperation in a Fragmented World. It calls on world leaders to address immediate economic, energy and food crises while laying the groundwork for a more sustainable, resilient world. For further information,

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