Connect with us
Advertisement

COVID-19 hits hard on BITC

BITC

The COVID-19 pandemic which weakened world economies had left a devastating impact on Botswana Investment and Trade Centre (BITC) existence in 2020. According to the group’s 2019/2020 Annual Report, Foreign Direct Investment (FDI) was sluggish for the first two quarters at P126 million and P426.96 million respectively. They then took an upward trajectory in Q3 and 4 at P1396 million and P1456 million respectively.

The year closed with a reduced performance at 73% for Q4. According to the financial report, export earnings opened the year at 83% which is approximately P671 million, before dropping to 81% (P1299.55 million). However, Quarter 3 experienced a slight rise in performance to 82%, or P1978.42 million before a drop in performance to close Quarter 4 at P74.9%, which was P2403.91 million.

Even if that is the case, the Centre continued to promote local investors by facilitating for local entrepreneurs to produce and find markets for their products both locally and internationally. The trend for Domestic Investment/Expansions indicated a continual upward performance surge from Quarter 1 through Quarter 4.

In percentage points, performance results reflected opening of 93% performance followed by a dip in performance to 82% Quarter 2, and then an increase to 100% in Quarter 3 and closing performance of 84.2% in Quarter 4.

For this financial year under review, BITC posted solid financial results with a surplus of P872.968, representing a decline from the previous year’s surplus of P13.991.337. The Centre started on track from the beginning of the financial year with successful execution of activities planned for the year.

However, following the subsequent onset of COVID-19 in the last quarter for the financial year, a few of the activities were negatively affected resulting from restricted cross border transfers. The impact is expected to be severe in the following financial year, especially on the Centre’s financial statements, clearly reflecting the negative impact of COVID-19.

In the financial year ended March 2020, BITC received a total subvention of P96.504.860 which represents a 5% decrease from the previous year’s subvention of P101.830.560. the Grant subvention received for the past 5 years has not been constant due to the financial constraints that the government has experienced over the years which prompted for alignment of financial resources to cover the Centre’s strategic imperatives.

For the year under review BITC’s annual FDI capital inflows realised stood at P1.456 billion against an annual target of P2 billion, which is largely attributable to more than expected performance from the Financial Services sector. The total Domestic Investment for the period was P875.5 million against the set stretched target of P952 million. The total number of jobs registered by the organisation during the year under review was 3329, against an annual target of 3340.

BITC ACHIEVEMENTS

Notwithstanding that, BITC realised high level achievements for the year under review. Chief Executive Officer Keletsositse Olebile said facilitated to establish the Selibe-Phikwe citrus project, which has a job creation expectation of 1000 vacancies as well as the expansion of Kromberg and Shubert Company through the allocation of land for construction of 7000 square metres factory to manufacture wire harness for Mercedes Benz, with over 800 jobs expected this year.

Further, the Centre continued to deliver improved investor facilitation services to both local and foreign investors through the Botswana one Stop service centre (BOSSC). “BOSSC houses relevant government departments under one roof to provide prompt, efficient and transparent services to investors. The services offered by this Centre have grown from slightly above 130 applications for government authorisation in 2013 to 752 in the year under review,” said Olebile.

BITC continued to monitor Botswana’s performance in global competitiveness indicators such as the World Bank’s ease of Doing Business Index. “In an endeavour to improve the investor facilitation mechanism in the country, we have motivated for the drafting of a Business Facilitation Law, which will expedite the setting up and operations of businesses in Botswana.”

ECONOMIC DIVERSIFICATION DRIVE

BITC continued to respond to government’s call to stimulate direct investment and growth of local companies by procuring goods and services from locally based manufactures and services providers. The message to promote locals to actively grow the national economy has been driven through campaigns such as ‘PushaBW’ which utilised an Integrated Marketing Communications (IMC) approach. As at March 2020, local purchases constituted 84% (2019:85%) of the total procurement with foreign purchases at 16% (2019:15%).

News

Mental health concern amid COVID-19 pandemic 

24th September 2021
Mental Health

With the advent of COVID-19, mental health and psychosocial has become a major concern around the world. There is   significant increase in the rates of stress, anxiety and depression globally.

In creating awareness and support on mental health and psychosocial support, the Ministry of Local Government & Rural Development, through the Department of Social Protection (DSP) hosted a virtual regional mental health and Psychosocial Support Forum (MHPSS).

The MHPSS Forum brings together stakeholders from different sectors providing Mental Health and Psychosocial Support services particularly to children, youth, families and the workforce, as well as Academia, International Cooperating Partners, Community Implementing Partners and the media.

It aims to facilitate learning, information exchange and advocacy to promote mainstreaming of Mental Health and Psycho-Social Support (PSS) into policies, programmes, services and funding priorities for children and youth in Botswana.

The event is a partnership between The Ministry of Local Government & Rural Development, through the Department of Social Protection (DSP), and the Regional Psychosocial Support Initiative (REPSSI), with Project Concern International Botswana (PCI) and Marang Child Care Network Trust (MCCNT).

The event is held every two years, and Botswana started hosting the Forum in 2014. The theme for this year is ‘Innovate, Integrate, Thrive,’ which prompts us to find new ways to survive the COVID-19 pandemic which we can mainstream into our daily activities.

The Northern Regional Forum in Mahalapye was held on 17-19 August 2021 while the Southern Regional Forum  in  Ghanzi, was  from 21-23 September 2021. Findings from both regions will be presented at the National Forum to be held in Kasane on 12-14 October 2021. The event is held in collaboration with local authorities in each region.

The event is structured in this manner: The first day is a Special Session for Children, where children in the region will talk about the challenges they face that affect their mental health, how they cope and what they think can be done to support them.

The second day is the official opening where the lead ministry gives a keynote address, and presentations from service providers in the region. The third and last day is abstract presentations from different speakers on thematic areas under the theme.

Continue Reading

News

GMES & Africa Southern Africa to hold a Regional Stakeholder Workshop on Earth Observation Technologies

24th September 2021
GMESAfrica

The Southern African Science Service Centre for Climate Change and Adaptive Land Management (SASSCAL) in collaboration with the Council for Scientific and Industrial Research (CSIR) will hold a Hybrid GMES and Africa Regional workshop from 27 – 29 September 2021, at Safari Hotel in Windhoek, Namibia.

The Global Monitoring for Environment and Security and Africa (GMES & Africa) Initiative is a programme formed out of mutual cooperation between Africa and Europe with a focus on Earth Observation (EO) systems.

It was formed to respond to the global need to manage the environment, understand and mitigate the effects of climate change and ensure civil security by providing information to policymakers, scientists, private sector and the public. GMES and Africa aims to promote development of local capacities, institutional, human and technical resources for access to and exploitation of Earth Observation (EO) based services on an operational basis for sustainable development in Africa.

In its first phase, GMES has funded 13 consortiums in Africa. In Southern African, SASSCAL-led consortia is implementing the Wetland Monitoring and Assessment Service for Transboundary Basins in Southern Africa (WeMAST) Project while CSIR is leading the Marine and Coastal Operations for Southern Africa (MARCO[1]South). SASSCAL Members of the consortium include the University of Botswana, University of Zambia, Cape Peninsula University of Technology, University of the Western Cape and Midlands State University, South African National Space Agency (SANSA) and the National Remote Sensing Centre (NRSC) of Zambia.

CSIR led consortium includes ABALOBI, Benguela Current Convention, Coastal Oceans Research and Development in the Indian Ocean, Council for Scientific and Industrial Research, National Sea Rescue Institute, University of Dar Es Salaam, University of Eduardo Mondlane and the Western Indian Ocean Marine Science Association).

The workshop will also provide an opportunity to promote and encourage mutual exchanges in terms of sharing best practices, knowledge and experiences as well as allow for the exchange of information and knowledge on new and innovative Earth Observation technologies developed under the programmes and their alignment with the region’s sustainable development strategies.

The workshop will also reveal trends in the use of earth observation data to monitor and assess wetland conditions, threats to sustainable utilisation of wetland resources as well as updating stakeholders on how climate change variability and drought is continually affecting Sub-Saharan Africa’s surface water resources.

The workshop’s envisaged outcomes will be to ensure shared knowledge and understanding of the new and innovative Earth Observation technologies, and their application to society. Expected to visit is a broader pool of international delegates from the two continents (Europe and Africa) both physically and virtual.

This includes the member countries policy makers, line ministers from the SADC countries, public and private sector stakeholders, implementers, Basin Commissions, researchers, and any other stakeholders whose activities are related to coastal areas, rivers, and their ecosystems.

Continue Reading

News

Vendors ready for the Tobacco Control Bill

21st September 2021
Vendors

Some vendors have been misled
Vendors thrive on households goods and fresh produce

Despite the previous false allegations that the Tobacco Control Bill will lead to several 20 000 vendors across the country losing their jobs, several local vendors have expressed that they are ready for the bill and because vendors sell mostly household goods

“This is something that we openly accept and receive as street vendors, the problem is some of our counterparts were misled and made to believe that we will not be allowed to sell cigarettes on our stalls.

Some of us got to understand that the bill states that we have to be licensed to sell cigarettes, we are not supposed to sell them to children under the age of 18 years of age and eliminating the selling of single sticks. We understand that this agenda is meant to develop a healthy nation but not take us down,” said Mbimbi Tau a vendor who operates from Mogoditshane.

The Tobacco Control Bill has been passed in several countries and street vendors are operating properly without any challenges faced. Tau further mentioned that there is no way that the Tobacco Control Bill will affect their business operations, all they have to do as vendors are to get the required documentation and do what the bill requires.

Another vendor Busani Selalame who operates from Gaborone Bonnington North was not shy to express his support towards the Tobacco Control Bill, “the problem is that some people within our sector have been misled and now they think that the bill is meant to take our operations down and completely stop selling cigarettes.

I support the fact that we are not supposed to sell cigarettes to children who are under the age of 18 years of age this has always been wrong, as parents we should be cautious of such and ensure that our children are disassociated with cigarettes,” said Selalame.

The Tobacco Control Bill prohibits advertising, promotion and sponsorship by the tobacco industry to prevent messages, cues, and other inducements to begin using tobacco, especially among the youth, to reassure users to continue their use, or that otherwise undermine quitting.

Renowned economist Bakang Ntshingane is of the view that since vendors sell household goods and fresh produce they are likely to keep on making profits despite what the Tobacco Control Bill comes with. He further stated that the Tobacco Control Bill will not be of harm on the local economy since the country does not manufacture or produce any tobacco related products.

Continue Reading
Do NOT follow this link or you will be banned from the site!