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Trade between Botswana and Asia grows

Statistics Botswana (SB) has revealed that trade between Botswana and the Asian countries experienced an increase during the October 2014 trading period.

The monthly Merchandise Digest for the September – October 2014 trading period reveal that total exports for October 2014 were valued at P6, 494.3 million, with 39.4 percent (P2, 559.9 million) destined to Asia. India received most of the exports destined to Asia at the value of P1, 087.0 million, representing 16.7 percent of total exports.

While the imports from Asia to Botswana were valued at P267.4 million, representing 4.0 percent of total imports. China contributed 1.2 percent (P77.6 million) to total imports recorded during October 2014.

The digest states that in October 2014 total exports were valued at P6, 494.3 million, an increase of 82.5 percent (P2, 936.3 million) from the September 2014 revised value of P3, 557.9 million. A comparison of October 2014 total exports value to that of October 2013 (P6, 115.4 million) shows an increase of 6.2 percent (P378.9 million).

According to the digest total exports for October 2014 were valued at P6, 494.3 million, with 81.6 percent (P5, 299.9 million) attributed to exports of Diamonds including Diamonds exported from the aggregation process.

Copper Nickel contributed 8.2 percent (P531.7 million) while Machinery & Electrical Equipment; and Meat & Meat Products contributed 3.1 percent (P202.2 million) and 1.9 percent (P123.3 million) respectively. Machinery & Electrical Equipment consists mainly of re-export of goods that were initially imported.

The monthly digest shows that October 2014 total imports were valued at P6, 701.3 million, showing an increase of 7.1 percent (P444.2 million) from the revised September 2014 value of P6, 257.2 million. When annualizing total import figures, October 2014 imports value decreased by 1.8 percent (P124.2 million) from the October 2013 value of P6, 825.5 million.

The digest has revealed Botswana’s major imports were from South Africa valued at P4, 059.2 million constituting 60.6 percent of the total exports and 8.0 percent (P538.9 million) from Namibia. These two were followed by the European Union which supplied imports valued at P913.0 million, representing 13.6 percent of total imports during October 2014.

Other sources of imports are Belgium and Germany which contributed 10.3 percent (P693.0 million) and 1.4 percent (P92.0 million) respectively, of total imports during the same period.

Canada and the United States of America (USA) were valued at P699.3 million and P135.2 million in October 2014, which is 10.4 percent and 2.0 percent respectively of total imports during the month. Israel and Singapore followed with contributions of 6.9 percent (P446.2 million) and 6.8 percent (P443.3 million) respectively of total exports during the month under review.

Exports destined to the EU were valued at P2,163.7 million, representing 33.3 percent of total exports during the period under review. Belgium received most exports destined to EU, having received 30.0 percent (P1, 949.0 million) of total exports during 2014 October. This was followed by Finland and the United Kingdom (UK) with 1.6 percent (P105.4 million) and 1.2 percent (P77.2 million) respectively, of total exports during the same month.

South Africa, Namibia and Zimbabwe received 9.7 percent (P627.0 million), 3.3 percent (P216.7 million) and 1.5 percent (P95.8 million) respectively, of total exports during the month under review.

Exports to Norway were valued at P278.7 million, representing 4.3 percent of total exports (P6, 494.3 million) during October 2014, while Switzerland and the United States of America (USA) received 3.7 percent (P238.3 million) and 3.0 percent (P197.1 million) respectively, of total exports during the same month.

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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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