The protracted talks between Government and the Retired Military Veterans are finally paying dividends, following revelations that Ministry of Defence, Justice and Security is drafting a bill aimed at addressing concerns of ex-servicemen.† †
Ministry of Defence has revealed the President approved the drafting of a bill for Military Veterans through Presidential Directive 18 (A) 2019.††This was borne out of a growing concern that retired members of the Botswana Defence Force (BDF) were retired into poverty as they do not have pension, instead they are given a lump sum. The object of the Bill is to provide for the welfare and benefits of Military Veterans.
ďBecause of the extensive consultation that had to be done with many concerned stakeholders, including the Veterans themselves, the bill took unusually long to process.† It was first circulated in August 2021 and came back with recommendations that forced the bill to be sent back to the drafters for re-drafting to effect the proposed changes,Ē Principal Public Relations Officer, Bonolo Tabalaka told WeekendPost.†
Currently, Tabalaka said, the bill is being re-circulated for input by Government Ministries and Departments until 4th March 2022.††ďThe aim is to get the bill to the next parliamentary sitting in July 2022,Ē he stated.††The bone of contention is that initially, there were distinct differences in the computation denominator used for civil servants for pension, which was 1/720, and the one used for the BDF, which was 1/600.†
During the switch to BPOPF, the former soldiers say the transfer values ignored the difference in the denominators, thus disadvantaging them when they retired.
Should the bill see the light of the day, it will be a new dawn for the lowly ranked soldiers. Currently, a brigadier retires with a net replacement ratio of 50 percent while lower ranks below the P500 000 threshold do not have pensions and retire with a lump sum. According to BPOPF, the threshold of P500 000 translates into a salary of P5 000 per month. A lower denominator therefore results in a lower net replacement ratio
President Mokgweetsi Masisi, prior to the 2019 elections said government was in the process of coming up with the Military Veterans Act in an effort to address challenges be-devilling retired army officers.††Masisi promised that the Act will provide structures and principles for governance of retired BDF members in line with international best practice.†
Further, Masisi said the legislation will provide a clear definition of a veteran; what qualifies him or her to be one; and manage expectations by elaborately spelling out entitlements to military veterans.†ďThe aim is to have a Net Replacement Ratio of 75% or better,Ē the President said. He was referring to ďthe projected pension at retirement expressed as a percentage of final net salary after deductions and income taxĒ.
The intention, according to Masisi was to review the BDF pension arrangement with a view to secure a better retirement package for soldiers.†For some time now, the soldiers have ran out of patience and suspected that this might have a lip service and election campaign gimmick.††However, it turns out that the government has been in consultations with other stakeholders on the matter.
Botswana Telecommunications Corporation Limited (BTC) has announced that its 3rd Francistown Marathon will be held on Saturday 20th April 2024 at Obed Itani Chilume Stadium in Francistown. The BTC Francistown Marathon is officially recognised by World Athletics and a Comrades Marathon Qualifier will offer race categories ranging from 42.2km, 21.1 km, 10km, 5km fun run, 5km peace run for children and has introduced a 5km and 10km categories for wheelchairs athletics.
BTC also used this opportunity to announce beneficiaries who received donations from proceeds made from the 2nd BTC Francistown Marathon that was held on April 23rd 203.¬† BTC donated a play area, plastic chairs and wooden tables for pupils worth a total of thirty eight thousand, one hundred and three pula, fifty thebe each (P38, 103.50) to Monarch Primary School, Tatitown Primary School, Mahube Primary School and Gulubane Primary School. Ditladi and Boikhutso clinics each received a donation of benches, television sets and 10, 000 litre water tanks worth thirty seven thousan, eight hundred and ninety eight pula (P 37, 898.00). Additionally, BTC also donated seventy thousand pula (P70,000.00) to their marathon technical partner, Francistown Athletics Club (FAC) which will be used for daily operations as well as to purchase equipment for the club.
The BTC Francistown Marathon aligns seamlessly with BTC’s corporate social investment programme, administered through the BTC Foundation. This programme is a testament to BTC’s dedication to community development, focusing on key areas such as health promotion. The marathon, now in its third year, not only promotes a healthy lifestyle but also channels all proceeds to carefully chosen charities as part of BTC’s commitment to impactful and sustainable projects.
Speaking at the launch, the BTC Managing Director Mr Anthony Masunga stated that the marathon underscores BTC‚Äôs commitment to community upliftment and corporate social investment. He stated that ‚Äúthe annual event which has been in existence since 2016, having taken a break due to the covid and other logistical issues, is instrumental to the economic upliftment of the city of Francistown‚ÄĚ. He congratulated all the beneficiaries for having been nominated to receive the donations, adding that ‚Äúthe donation of proceeds from the 2023 marathon aims to highlight BTC‚Äôs commitment and heart for Batswana and our continued impact in the different industries‚ÄĚ.
He further stated that through this marathon, ‚Äúwe demonstrate our steadfast commitment to having a good influence on our communities, this event is a manifestation of our dedication to promoting education and a healthier, more active society‚ÄĚ. ¬†He concluded by stating that ‚ÄúBTC looks forward to another successful marathon that will leave a lasting positive influence on the greater Francistown community and the country at large‚ÄĚ he said.
Giving welcome remarks, the Councillor for Donga, Honourable Morulaganyi Mothowabarwa stated that ‚Äúhe is ecstatic that BTC is collaborating with the City of Francistown on yet another installment of the Marathon‚ÄĚ. He continued to offer his support to BTC to enable this marathon to continue over the coming years, stating that the ‚ÄúCSI element is a welcome development that helps empower our communities‚ÄĚ, he said.
The 3rd BTC Francistown Marathon is officially open for registrations and athletes may use the following platforms to register and pay; through Smega by dialling *173# and choosing opton 5, then choose Option 3 for the Francistown marathon, at any BTC store or by visiting the BTC website and clicking on the BTC Francistown Marathon and choosing the relevant options.
Thapelo Letsholo, Member of Parliament for Kanye North, delivered a moving speech at the United Nations International Anti-Corruption Day commemoration, praising President Dr. Mokgweetsi Eric Keabetswe Masisi’s digitalization initiative in the fight against corruption. Letsholo highlighted the importance of embracing digitalization in governance as a crucial step in curbing corrupt practices.
According to Letsholo, the implementation of digital systems in government services can significantly reduce direct interactions between citizens and officials, which often serve as fertile grounds for corruption. By minimizing these opportunities for illicit activities, the efficiency and transparency of public services can be enhanced. Letsholo pointed to Estonia’s success in digital governance as an example, where public services have become more transparent, accessible, and efficient.
The MP commended President Masisi’s commitment to digitalization and E-Governance, emphasizing that it aligns with global anti-corruption standards. He called for full support and active participation from all sectors to ensure the success of this initiative.
Letsholo also stressed the importance of improving detection methods and refining whistleblower laws to effectively combat corruption. He highlighted the unseen and unspoken facets of corruption as its lifelines, emphasizing the need for robust detection mechanisms and a system that encourages and protects whistleblowers.
Addressing the societal role in fighting corruption, Letsholo focused on the crucial role of everyday citizens and civil servants who often witness corrupt practices firsthand. He acknowledged the existing reluctance to report corruption due to the perceived risks of repercussions. To change this narrative, Letsholo advocated for creating an environment where staying silent is deemed more detrimental than speaking out. He called for a cultural shift where the potential benefits of exposing corruption outweigh the risks, ensuring that whistleblowers are protected and feel secure in coming forward.
Letsholo called for collective responsibility and action in creating a system that not only detects and reports corruption but also supports those who stand against it. He expressed hope that under President Masisi’s digitalization initiatives, the future of governance in Botswana will be characterized by integrity, transparency, and accountability. Letsholo’s speech resonated with the sentiments of hope and determination that permeated the commemoration, emphasizing the need for unity in the fight against corruption.
In summary, Letsholo lauded President Masisi’s digitalization initiative in the fight against corruption, highlighting its potential to curb corrupt practices, enhance efficiency and transparency in public services, and align with global anti-corruption standards. He emphasized the importance of improving detection methods, refining whistleblower laws, and creating an environment where speaking out against corruption is encouraged and protected. Letsholo called for collective responsibility and action in creating a future characterized by integrity, transparency, and accountability in governance.
FaR Property Company (FPC) Limited, a property investment company listed on the Botswana Stock Exchange, has recently announced its exceptional financial results for the year 2023. The company’s property asset value has risen to P1.47 billion, up from P1.42 billion in the previous year.
FPC has a diverse portfolio of properties, including retail, commercial, industrial, and residential properties in Botswana, South Africa, and Zambia. The company owns a total of 186 properties, generating rental revenues from various sectors. In 2023, the company recorded rental revenues of P11 million from residential properties, P62 million from industrial properties, and P89 million from commercial properties. Overall, the company’s total revenues increased by 9% to P153 million, while profit before tax increased by 22% to P136 million, and operating profit increased by 11% to P139 million.
One notable achievement for FPC is the low vacancy rate across its properties, which stands at only 6%. This is particularly impressive considering the challenging trading environment. The company attributes this success to effective lease management and the leasing of previously vacant properties in South Africa. FPC’s management expressed satisfaction with the results, highlighting the resilience of the company in the face of ongoing macroeconomic challenges.
The increase in profit before tax can be attributed to both an increase in income and effective control of operating expenses. FPC managed to achieve these results with fewer employees, demonstrating the company’s efficiency. The headline earnings per linked unit also saw an improvement, reaching 26.92 thebe, higher than the previous year.
Looking ahead, FPC remains confident in its competitiveness and growth prospects. The company possesses a substantial land bank, which it plans to develop strategically as opportunities arise. FPC aims for managed growth, focusing on consumer-driven developments and ensuring the presence of supportive tenants. By maintaining this approach, the company believes it can sustainably grow its property portfolio and remain competitive in the market.
In terms of the macroeconomic environment, FPC noted that inflation rates are decreasing towards the 3% to 6% range approved by the Bank of Botswana. This is positive news for the company, as it hopes for further decreases in interest rates. However, the fluctuating fuel prices, influenced by global events such as the war in Ukraine and oil output reductions by Russia and other Middle Eastern countries, continue to impact businesses, including some of FPC’s tenants.
FPC’s property portfolio includes notable assets such as a shopping mall in Francistown with Choppies Hyper as the anchor tenant, Borogo Mall located on the A33 main road near the Kazungula ferry crossing, and various industrial and commercial properties in Gaborone leased to Choppies, Senn Foods, and Clover Botswana. The company also owns a shopping mall in Mafikeng and Rustenburg in South Africa.
The majority of FPC’s properties, 85%, are located in Botswana, followed by 12% in South Africa and 3% in Zambia. With its strong financial performance, competitive position, and strategic land bank, FPC is well-positioned for continued growth and success in the property market.