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Appointment of BotswanaPost Acting Chief Executive

Board of Directors of BotswanaPost has appointed Ms. Setshedi Botlhole-Mmopi as the Acting Chief Executive of BotswanaPost effective 1st April, 2015.

Ms. Botlhole-Mmopi is a seasoned Chartered Accountant with a strong background in various aspects of financial management, as well as business and transformational leadership. Her experience spans 30 years, 14 of which have been at Executive Management level.

Prior to being appointed as Acting Chief Executive, Ms. Botlhole-Mmopi served as the Chief Financial Officer within BotswanaPost where she turned the Finance and Procurement Department around until transfer to Mail Business in 2013 as the Head. In that role, she spearheaded operational efficiency improvements, and innovations around physical mail. She also drove the Addressing Botswana Project, which is currently at pilot phase.

Her career spans across various industries including Mining, Banking, Energy and Telecommunications. She has held Leadership positions at both national and regional level which includes being Head, Barclays Africa Finance Unit, at some stage based in South Africa. She currently serves on Bank of Botswana Board and the Morupule Coal Mine Boards. Previous Board memberships include the inaugural Board of Botswana International Financial Services Centre, BTC, BMC and PEEPA.

Polokoetsile P. Motau, Board Chairman wrote:  “The Board shall begin in earnest the process of facilitating the appointment of a substantive CEO of BotswanaPost in consultation with the Board of the holding company Botswana Postal and Savings Group Ltd and parent Ministry of Transport and Communications. To our shareholder, business partners, clients and Batswana at large I wish to reiterate The Board, Executive Management and indeed general staff resolute commitment to “business excellence” and delivery on our strategic goal of being an “Icon of Excellence”.”

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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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