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Botswana women lead world in business ownership

Botswana leads the pack in the world as it has been placed at the top for the highest concentration of women businesses owners.

According to the newly released 2021 Mastercard Index of Women Entrepreneurs (MIWE) report, Botswana scooped the first position across the 65 markets evaluated around the world.

The report reveals that Botswana (38.5 percent) ranks first in the world with the highest percentage of women business owners, followed by Uganda (38.4 percent) and Ghana (37.2 percent).

It states that the, Top performers MIWEs 2021 results again point to outstanding progress made by womens business ownership in Botswana (rank 1), Uganda (rank 2), Ghana (rank 3), Russia (rank 5) and Malawi (rank 10).

According to the report, although not among the wealthiest or advanced economies, women in Botswana outshine their global peers with very high womens business ownership (more than 30% of owners are female).

The 2021 Mastercard Index Women Entrepreneurs (MIWE) uses 12 indicators and 27 sub- indicators to create three Components: womens advancement outcomes; knowledge assets and financial access; entrepreneurial supporting conditions.

These allow us to track factors and conditions that support and drive the female share of business owners across 65 economies, representing 82.4% of the worlds female labour force, the report says.

The report found that women in the high income and innovation-driven economies of United States, Portugal, New Zealand, Australia and Spain retain their strong ranks among the top 10 with Spain and Portugal advancing by three and two places respectively.

The report says results of the2021 Mastercard Index of Women Entrepreneurs point to unique characteristics in the entrepreneurial landscape in the developing economy of Botswana, where women continue to outshine their peers as business owners due to an incredibly strong sense of optimism, drive, and self-belief despite being severely underrepresented in the political, leadership and professional landscape.

It says other developing economies where women share the same unique characteristic as their peers in Botswana are Ghana, Uganda, and Malawi.

The report also revealed that Botswana was also identified as one of the countries where although the social, financial, institutional and academic conditions for women are not always very favourable, Batswana women are able to leverage on opportunities available in their respective environments to be business owners, leaders and professionals/technical workers.

It says that women have not necessarily been deterred from starting a business despite the impact of the COVID-19 pandemic. Out of the 65 economies, twelve recorded an increase in the indicator womens entrepreneurial activity rate.

The report said these countries are Botswana Taiwan, Switzerland, Algeria, Bulgaria, South Africa, Turkey, Bangladesh, Egypt, Tunisia, Saudi Arabia and Angola.

In Botswana, the report says the number of males actively engaged in the workforce fell faster than females. It says Understanding and celebrating the achievements and entrepreneurial potential of women in order to unleash their economic power will be central to a sustained and meaningful recovery from the pandemic and beyond.

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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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Business

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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Business

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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