Rules of Money
Business
It is generally agreed that it takes 21 continuous days of following a similar pattern of behaviour to develop a habit. Habits can be learned and unlearned. We were all born without habits. English Philosopher John Locke is widely acclaimed for the theory of the “tabula rasa.”
In essence the theory suggests that our current habits are results of behaviours that we have learned routinely over years and years. What we are today and what we believe in was implanted in us by interaction with the society that we live in.
The important lesson is that our beliefs, spiritual being, our fears and habits have been learned yet we were born as “tabula rasa” that is a “white clean slate”. Our contact with the environment shaped and cultured us to believe, see and behave in a particular way.
This brief lesson in Psychology directly implies and verifies that what we are a total summation of our contact with environment. The habits that we have are therefore results of interaction with our surroundings. Inherently this suggests that our money habits, attitudes, perception have therefore been learnt from somewhere whether consciously or sub-consciously.
If it has been learned therefore it can be unlearned. It is only that now you will be aware of the learning process. It is not easy to unlearn but it is simple.
We can discover new patterns of behaviour to replace our old behaviour by practicing our desired behaviours over and over until they become new habits. If you want to be successful you can look at the documented habits of self- made millionaires and practice them until they become yours.
The idea is not to pursue the money only but we have to develop the ability to be able to keep the money. The bad money habits are therefore replaceable. We can be born again in terms of our money habits. We have to identify our new desired habits to replace the old habits.
Have you wondered why a person who has won 1 million pula end up with zero pennies in a short while? It is simply because they got the million pula but do not possess the money mind to be able to grow or at the least preserve it. The money will vanish as fast as it came. Money management consist of thumb of rules that cannot broken.
Right from the Richest Man in Babylon to Rich Dad Poor Dad the basic and fundamental rules of money are all the same, though expressed through individual creativity. It is these rules that we are going to share today. If you started working on these rules today you will be astonished as to how the universe re-organizes to commensurate your newly found self.
Most entrepreneurs and investors work years and years to accumulate their wealth. In the process they undergo so many money lessons that by the time they get their first million their mastery of finances is phenomenal. They have acquired over their rise to the millionaire status, million dollar habits that teaches them the essentials of money management.
They are basically products of the University of Hard Knocks and because they know the pain of losing everything they walk the balancing act of being open minded while also being protective of what they have accumulated.
The point is, ordinarily no one will be able to rise from managing a few hundreds of pulas to now managing millions of pula. Mark the word ordinarily some people possess natural frugality skills and can remarkably manage the transformation.
If you win a lottery, you have acquired the money but not the money mind. Your habits are the same and you will loose it faster than you can imagine hence why people who win lotteries end up poor again most of the time.
Today I share with you the 7 MoneyMind rules
Rule 1-Budgeting
You cannot operate without your budget because the budget gives you a guide as to how you spend your money. You can notice patterns of your spending and adjust accordingly. This rule cannot be broken if you do you will never experience abundance.
Rule 2-Give 10% away
The first 10% of the money must go to church or charity. It must be given away. This is the first rule of MoneyMind. I cannot explain it because it is spiritual. The more you give the more money you seem to attract.
Rule 3-Pay yourself first
Pay yourself first and the sufficient amount to go towards your savings throughout your lifetime is 15%. We always pay expenses and debts before we save. The attitude towards savings should be that we pay ourselves first. After giving 10% to charity you need to save 15%.
Rule 4 –Pay your household expenses
To discharge your best effectively you need the peace of mind of having paid all basic household needs such as shelter, food, clothes, transport etc. Without this you cannot maintain a positive mindframe.
Rule 5-Insure yourself and properties
Insure yourself, properties and everything that you have including life cover that will go towards your estate. If you do not insure yourself or properties you can lose everything. Insurance is very vital and stop listening to people who say otherwise.
Rule 6-Pay off your debts
Pay off your debts and debt is any loan or borrowed finances that do not bring any income. Work on a plan to gradually reduce your debts. Engage honestly with your creditors. Avoid credit cards and hire purchase agreements. Save towards your goals.
Rule 7-Invest
Invest in a business, stock or investments vehicle with returns that are better that inflation e.g. Metropolitan Life Botswana investment policies in the past ten years have offered an average of over 10% compounded annually.
Cut out this article and remind yourself regularly about these rules. Habits are formed if you derail don’t despair you will eventually conquer you bad money habits and don on your new money habits.
This is achievable; together towards to our new money habits.
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Grit Services Limited, a member of the pan African real estate group, London Stock Exchange listed Grit Real Estate Income Group is divesting from Letlole La Rona Limited (LLR), a local real estate company established by government investment arm Botswana Development Corporation over a decade ago.
The Board of Directors of Letlole La Rona Limited this week announced in a statement to Unitholders that Grit Services Limited (‘Grit’) has informed them of its intention to exit its investment in the company.
Grit has been a material shareholder in LLR since 2019. On 07 March 2023, Grit sold 6 421 000 linked units, representing 2.29% of the Company’s total securities in issue, at a market value of BWP 22 537 710.
This trade follows previous sales of 6.79% in December 2022, as communicated to Unitholders on 10 January 2023, as well as a further sale of 4.78% (representing 13 347 068 linked units) on 24 February 2023 to various shareholders.
In aggregate, Grit has sold 13.9% shareholding in the Letlole La Rona between December 2022 and March 2023, resulting in current shareholding of 11.25% in the Company.
Letlole La Rona said in the statement that the exit process will take place in an orderly manner so as to maintain stability of the Company’s share price.
The statement explained that Grit’s sale of its entire shareholding in LLR is in line with its decision to exit investments where it does not have majority control, or where it has significant exposure to currencies other than US dollar, Euro or hard-currency-pegged revenue streams.
“Grit has announced similar decisions pertaining to certain of its hospitality assets in Mauritius recently. The Company would like to advise Unitholders that it remains focused on long-term value delivery to all stakeholders” LLR said
In July last year as part of their Go-to-Africa strategy Letlole La Rona acquired an initial 30% equity stake in Orbit Africa Logistics, with an option to increase this investment to 50%. OAL is a special purpose vehicle incorporated in Mauritius, owning an industrial asset in a prime industrial node in Nairobi, Kenya.
The co-investment was done alongside a wholly owned subsidiary of London listed Grit. The Orbit facility is situated on a prime industrial site on Mombasa Road, the principal route south of Nairobi center, serving the main industrial node, the port of Mombasa and the industrial town of Athi River and is strategically located 11 kilometers south of the international airport and 9.6 kilometers from the Inland Container Depot.
Grit shareholding in Letlole La Rona was seen as strategic for LLR, for the company to leverage on Grit’s already existing continental presence and expand its wings beyond Botswana borders as already delivered by Kenya transaction.
Media reports have however suggested that LLR and Grit have since late last year had fundamental disagreements on how to go about the Go-to-Africa strategy amongst other things, fuelled by alleged Botswana government interference on the affairs of LLR.
Government through LLR founding shareholder – Botswana Development Corporation has a controlling stake of around 40 percent in the company. Government is the sole shareholder of Botswana Development Corporation.
Letlole La Rona recently released their financial results for the six months ended December 2022, revenue increased by 4% to P50.2 million from P48.4 million in the prior comparative six months, whilst operating profit was up 8% to P36.5 million. Profit before tax of P49.7 million was reported, an increase of 8% on the prior comparative six months.
“We are encouraged by the strong results, notwithstanding a challenging economic environment. Our performance was mainly underpinned by annual lease escalations, our quality tenant base and below average market vacancy levels, especially in our warehouse portfolio,” Kamogelo Mowaneng, Letlole La Rona Chief Executive Officer commented.
LLR reported a weighted average lease expiry period of 3.3 years and escalation rates averaging 6.8% per annum for the period ended 31 December 2022.Its investment portfolio value increased by 14% year-on-year to close the period at P1.4 billion, mainly driven by the acquisition of a 30% stake in OAL in July 2022.
The Company also recorded a significant increase in other income, predominantly due to foreign exchange gains on the OAL shareholder loan. “We continue to explore pipeline opportunities locally, and regionally in line with our Go-to-Africa strategy and our interest remains on value-accretive investments,” Mowaneng said.
An interim distribution of 9.11 thebe per linked unit was declared on the 6th of February 2023 for the half-year period to 31 December 2022, comprising of a dividend of 0.05 thebe and debenture interest of 9.06 thebe per linked unit which will be paid to linked unit holders registered in the books of the Company at the close of business on 24 February 2023.

Internationally-acclaimed diamond manufacturing company StarGems Group has established the Stargems Diamond Training Center which will be providing specialized training in diamond manufacturing and evaluation.
The Stargems Diamond Training Institute is located at the Stargems Group Botswana Unit in Gaborone.
“In accordance with the National Human Resource Development Strategy (NHRDS) which holds the principle that through education and skills development as well as the strategic alignment between national ambitions and individual capabilities, Botswana will become a prosperous, productive and innovative nation due to the quality and efficacy of its citizenry. The Training Centre will provide a range of modules in theory and in practice; from rough diamond evaluation to diamond grading and polishing for Batswana, at no cost for eight weeks. The internationally- recognized certificate offered in partnership with Harry Oppenheimer Diamond Training School presents invaluable opportunities for Batswana to access in the diamond industry locally and internationally. The initiative is an extension of our Corporate Social Investment to the community in which we operate,” said Vishal Shah, Stargems Group Managing Director, during the launch of the Stargems Diamond Training Center.
In order to participate in this rare opportunity, interested candidates are invited to submit a police clearance certificate and a BGCSE certificate only to the Stargems offices. Students who excel in these programs will have the chance to be onboarded by the Stargems Group. This serves as motivation for them to go through this training with a high level of seriousness.
“Community empowerment is one of our CSR principles. We believe that businesses can only thrive when their communities are well taken of. We are hoping that our presence will be impactful to various communities and economies. In the six countries that we are operating in, we have contributed through dedicating 10% of our revenues during COVID-19 to facilitate education, donating to hospitals and also to NGOs committed to supporting women and children living with HIV. One key issue that we are targeting in Botswana is the rate of unemployment amongst the youth. We are looking forward to working closely with the government and other relevant authorities to curb unemployment,” said Shah.
Currently, Stargems Group has employed 117 Batswana and they are looking forward to growing the numbers to 500 as the company grows. Majority of the employees will be graduates from the Stargems Diamond Training Center. This initiation has been received with open arms by the general public and stakeholders. During the launch, the Minister of Minerals and Energy, Honorable Lefoko Moagi, stated that the ministry fully endorses Stargems Diamond Training and will work closely with the Group to support and grow the initiative.
“As a ministry, we see this as an game changer that is aligned with one of the United Nations’ Six Priority Sustainable Development Goals, which is to Advance Opportunity and Impact for Diversity, Equity, and Inclusion (DEI). What Stargems Group is launching today will have a huge impact on the creation of employment in Botswana. An economy’s productivity rises as the number of educated workers increases as its skilled workmanship increases. It is not a secret that low skills perpetuate poverty and widen the inequality gap, therefore the development of skills has the potential to contribute significantly to structural transformation and economic growth by enhancing employability and helping the country become more competitive. We are grateful to see the emergence of industry players such as Stargems Group who have strived to create such opportunities that mitigate the negative effects of COVID-19 on the economy,” said the Minister of Minerals and Energy.

The latest figures released by Statistics Botswana this week shows that food import bill for Botswana slightly declined from around P1.1 billion in November 2022 to around P981 million in December during the same year.
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