Members of Parliament(MPs) attending a breakfast meeting hosted by Botswana Telecommunications Corporation Limited (BTCL), have lauded the Corporation for efforts to improve service delivery ,and for giving back to Batswana through the Company’s robust Corporate Social Responsibility.
MPs, attending included the Assistant Minister of Trade and Industry, Mr Sadique Kebonang. The Legislators, were appreciative of efforts by BTCL to share its strategic objectives and initiatives to become more customer centric.
Mogoditshane MP, Mr Sedirwa Kgoroba, congratulated BTCL for ensuring that Batswana countrywide have telecommunications services. He urged BTCL to roll -out fast efficient service at competitive affordable tariffs.
The MP for Nata/Gweta, Mr Paulson Majaga , said Batswana were eagerly waiting to purchase BTCL shares saying his constituents were thankful for beMOBILE as it is the only service provider in some of the villages he represents. beMOBILE reaches over 90% of the population.
He urged BTCL to continue giving back to communities citing the support to the beMOBILE Premier League and the Francistown City Marathon sponsorship.
BTCL also received a pat on back from Gaborone Central MP, Dr Phenyo Butale for efforts towards improving the lives of Batswana. The Corporation, he said must be celebrated for taking Batswana in general and BTCL employees aboard as it moves towards privatization. He however cautioned that efforts to empower Batswana, through BTCL privatization, should not become a pie in the sky.
MPs encouraged the Corporation to improve quality of service and address beMOBILE network congestion especially at weekends. They also implored BTCL to work hard and mitigate the service outages stemming from power failures.
The Corporation was also requested to further reduce its tariffs in pursuit of service excellence. Legislators were eager to assist BTCL should there be any legislative or regulatory bottlenecks.
BTCL Managing Director, Mr. Paul Taylor, had earlier briefed MPs on the, BTCL organization structure, BTCL roadmap, separation of assets and impending privatization.
Legislators were also updated on service improvement initiatives, ongoing tariff reviews; BTCL financial performance and excellent stakeholder relations with amongst others the union and the press.
Acting BTCL Board Of Directors Chairman, Ms Choice Pitso , thanked MPs for their insights towards building a sustainable BTCL relevant to the aspirations and needs of all its stakeholders.
Botswana Telecommunications Corporation Limited (BTCL) is a leading ICT services provider in Botswana. It has a telecommunications infrastructure that is one of the most modern in Africa, with a network composed of an all-digital microwave, fibre optic systems and digital exchanges. beMOBILE, the mobile arm of BTCL, was established in 2008. It has the widest network coverage in Botswana reaching almost 90% of the population.
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.
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.
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,