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Bank Gaborone Launches new mobile banking app

Bank Gaborone a member of the Capricorn Group, launched its new mobile banking app. The mobile banking app is part of the bank’s digital banking strategy which has evolved over the years to provide a better client experience and value for clients.

The new mobile banking app comes at an opportune time to respond to the current pandemic by banking clients with adherence to social distancing protocols. The app has been made available to all Bank Gaborone account holders, allowing them to access their bank accounts securely and make use of a variety of services.

“The mobile banking app was primarily designed with our clients in mind, infact, it was through their valuable feedback that we were able to create an easy to use, relevant and sleekly designed app which our customers can use anytime, anywhere.

The App is optimised for smartphones and tablets with quick navigation and fewer clicks to enable effortless transacting” stated Head: Retail Banking, Francois Saunders. He further stated that “the banks drive to provide solutions to its clients allows us to partner with them to co-create services which empower them to have greater control of their finances.”

The Bank Gaborone mobile banking app enables clients to manage card & EFT limits, make online payments, inter-account transfers and more. This provides an enhanced user experience in addition to existing digital platforms such as Tobetsa mobile banking and e-pula internet banking.

On protecting its clients, Managing Director, Sybrand Coetzee stated that “our intention is not only to provide an affordable option but to offer our clients a high-tech solution which safeguards them against fraud; this is why the Bank Gaborone mobile banking app provides security updates to protect its clients.” We understand the demand for instant and ‘on the go’ banking from our clients and hence we have enabled free access to the App with no data charges”

Clients using Android powered devices can access the Bank Gaborone mobile app on the Google Play store and those using Apple devices can access it on the IOS Appstore. “It is our belief that we bank people and not necessarily money, therefore, we will continue to introduce and unpack more app features as our clients’ needs continue to evolve,” said Managing Director Sybrand Coetzee.

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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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