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SEZA’s P123 million Panda project progressing smoothly

Construction of the 12 steel grain silos at the Pandamatenga Special Economic Zone (SEZ) is progressing smoothly. This was revealed by the Project Manager, Walter Kgabung during a recent visit to the Pandamatenga SEZ by the Authority’s Board of Directors and senior management.

When giving an update on the project, Kgabung revealed that electrical and mechanical installations were at 60 percent completion, while the civil and structural works were complete.
He added that the project was progressing smoothly despite delays occasioned by the Covid-19 pandemic.
“Further delays were caused by the unavailability of materials in Kasane, which forced us to source from Gaborone and Francistown,” he said.

When delivering the State of the Nation Address (SONA) recently, President Mokgweetsi Masisi revealed that the detailed design and construction of 12 steel grain silos — with an overall storage capacity of 60 000 metric tonnes — is underway at the Pandamatenga SEZ. The P126 million project will be completed by August 2021.

For his part, SEZA Chief Executive Officer (CEO) Lonely Mogara explained that the 12 steel grain silos are meant to facilitate increased agro-production by augmenting the limited capacity of the existing 30, 000 metric tonnes.

Led by Chairman Thapelo Tsheole, SEZA’s Board of Directors and senior management recently embarked on a tour of key projects at the Pandamatenga SEZ, among them a potato farm, a 107hectares agro-processing zone and the construction site of the flagship 12 steel grain silos.
The Authority is transforming Pandamatenga into an Agropolis SEZ that combines modern farming with top notch industrial, residential, commercial and recreational facilities.
The total land area in the Pandamatenga SEZ measures 137,007 hectares; on which the Authority anticipates to produce cereals like maize, sorghum, millet and wheat; legumes like beans, chickpeas and groundnuts; oilseeds; fruits and vegetables; animal feeds and fertilisers.

When commenting on the project, SEZA Board Chairman Thapelo Tsheole said he was very happy with progress made in developing the Pandamatenga SEZ. He added that the on-going projects were aligned with SEZA’s mandate of developing SEZs and ensuring that they present a better value proposition in the form of readily available infrastructure.

“The Pandamatenga SEZ will attract much needed foreign direct investment and also help us solve our long running problem of high food import bills. We hope to attract large scale farmers to set up in Pandamatenga and boost the agriculture sector, thereby creating employment and contributing to our national Vision 2036,” said Tsheole.

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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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