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Botswana beef value chain readies for EU market

The Botswana National Veterinary Laboratory (BNVL) in the Ministry of Agriculture held its management system review meeting at Maun Lodge from 4th to 8th July 2022.

The objective of the review was to evaluate BNVL’s current capacity in supporting the beef value chain’s readiness for export to the European Union and other markets. The participants were BNVL managers, heads of sections and heads of units.

The review included BNVL’s current status of accreditation with SADCAS; quality assurance; adequacy of human, financial and material resources; effectiveness of corrective actions from previous EU audits; customer satisfaction; continuous training of staff; financial control as well as policies and procedures.

Chairing the 5-day review was Dr. Chandapiwa Marobela-Raborokgwe, Deputy Director of the BNVL. In her opening remarks, she mentioned that the BNVL is the only official veterinary diagnostic laboratory in Botswana. She noted that the information generated by the laboratory is used for diagnosis, control and prevention of animal diseases occurring in Botswana, certification of animals and livestock products to facilitate local and international trade.

The Deputy Director stated that agriculture contributes about 3% to the GDP and 80% of this contribution stems from the livestock industry making this sector vital to the livelihoods of the many Batswana that are subsistence farmers.

“As a trading partner, the EU observes a non-negotiable requirement of test results from accredited test laboratories. BNVL started a 5-year accreditation cycle with SADCAS and have undergone annual assessment with the cycle ending in August 2022 due for renewal in September. We have made considerable progress in fulfilling our obligation to achieve test accreditation status and implementation of a quality management system according to ISO 17025 Standard in 2000; accrediting 7 tests in 2007 increasing the number to 47 by 2018,” she said.

Dr Marobela-Raborokgwe applauded her colleagues for submission of thorough reports to be unpacked during this week and she expressed gratitude to the EU-SADC EPA Implementation Support Programme for their sponsorship of this year’s review.

The EU-SADC EPA Implementation Support Programme in Botswana’s Technical Assistance Team representative; Dr Alec Bishi commended the BNVL for their knowledge of EU Market compliance requirements. He also provided an update on the implementation of activities under the programme.

The BNVL management review is supported by the EU-SADC EPA Support programme in Botswana. This is a 3.5 year programme which launched in February 2021 with objectives to boost Botswana’s capacity for trade, to realise the full benefits of the EPA between the EU and SADC.

Its goals include the promotion of export-led economic diversification and growth, increased foreign direct investment and improved employment in targeted non-mineral value chains, with a potential to strengthen women’s economic empowerment.

Business

5 Best Forex Trading Brokers in Botswana for beginners

17th August 2022

Botswana is a leading economy in Sub-Saharan Africa, and this environment has contributed to the growth of Forex trading amongst young investors in Botswana.

Beginner traders must sign up with a regulated Forex broker that offers a safe trading environment and a wealth of resources. Here, we have listed the 5 best Forex brokers for beginner traders in Botswana.

 

1. AvaTrade

Overview

AvaTrade is a reputable broker that features an interface that makes copy trading easy to use for beginners. Customers of AvaTrade have access to a variety of trading platforms. AvaTrade is considered a leading broker, when compared to rivals such as with AvaTrade vs. eToro.

Manual traders have access to both the mobile interface AvaTradeGo and the popular desktop platform MetaTrader4 (MT4). AvaTradeGo is a mobile version of MT4.

 

Pros and Cons

PROSCONS
Broad range of tradable instrumentsHigh EURUSD and inactivity fees
MetaTrader 4 and 5 available 
Excellent educational resources 

 

 

Features

FeatureInformation
RegulationCentral Bank of Ireland, MiFID, ASiC, BVI
Minimum deposit from$100
Average spread from0.9 pips
Commissions fromNo commission on Forex
Deposit/Withdrawal FeesNone
Maximum Leverage1:400
BonusesFirst Deposit Bonus
Customer Support24/5 – multilingual

 

 

2. Exness

Overview

Exness is an excellent choice for Forex trading in Botswana, especially for those looking for a low-cost broker they can trust. When opening an account with them, prospective traders in Botswana can take advantage of a Forex no deposit bonus, as Exness is widely regarded as one of the best Forex brokers in the country.

 

Pros and Cons

PROSCONS
Well-regulated 
Tight spreads 
Over 130 currency pairs 

 

 

Features

FeatureInformation
RegulationCySEC, FCA
Minimum deposit from$1
Average spread from1.3 pips
Commissions from3 USD and 10 USD per 1 lot for CFDs
Deposit/Withdrawal FeesNone
Maximum Leverage1:2000
BonusesStandard +10% Bonus Programme
Customer Support24/5 – multilingual

 

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3.Pepperstone

Overview

Since its founding in 2010, Pepperstone has experienced rapid growth. Both CFD and FX traders can take advantage of low spreads, fast support, and a variety of third-party platforms, including several social copy trading options.

 

Pros and Cons

Pros

 

No minimum deposit

Low trading fees for forex

No added costs for withdrawals or deposits

 

Cons

 

Limited number of instruments

No additional research tools

 

 

 

Features

FeatureInformation
RegulationFCA, ASIC
Minimum deposit fromAUD200
Average spread from0.4 pips
Commissions from‎$3.76 commission per lot per trade
Deposit/Withdrawal FeesNone
Maximum Leverage1:500
BonusesNone
Customer Support24/5

 

 

4.OctaFX

Overview

OctaFX is an electronic communication network (ECN) Forex broker that facilitates CFD trading in a wide range of underlying assets. In addition to its many trading accounts, OctaFX also offers extensive research tools, copy trading, bonus promotions, and more.

 

Pros and Cons

PROSCONS
Ultra-fast executionNo VPS available
More than 30 forex pairs available

Well-regulated

 

No Forex educational tools

 

Features

FeatureInformation
RegulationCySEC
Minimum deposit from$100
Average spread from0.7 pips
Commissions from None
Deposit/Withdrawal FeesNone
Maximum Leverage1:500
Bonuses50% Deposit Bonus
Customer Support24/5

 

 

5.XM

Overview

A common name in the field of foreign exchange, XM is a household brand. Trading on XM’s improved MetaTrader 4 and MetaTrader 5 platform provides access to over a thousand assets at competitive costs.

 

Pros and Cons

Pros

Low minimum deposit

Comprehensive educational offering

Streamlined account opening process

 

Cons

Inactivity fee charged after 90 days on live accounts

Limited product portfolio

 

 

 

Features

FeatureInformation
RegulationIFSC, ASIC, CySEC, FCA and DFSA
Minimum deposit from$5
Average spread from0.1 pips
Commissions from$3.5 commission per $100 000 traded
Deposit/Withdrawal FeesNone
Maximum Leverage1:30
Bonuses$30 Trading Bonus
Customer Support24/5

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Business

New study reveals why youth entrepreneurs are failing

21st July 2022
Youth

The recent study on youth entrepreneurship in Botswana has identified difficult access to funding, land, machinery, lack of entrepreneurial mindset and proper training as serious challenges that continue to hamper youth entrepreneurship development in this country.

The study conducted by Alliance for African Partnership (AAP) in collaboration with University of Botswana has confirmed that despite the government and private sector multi-billion pula entrepreneurship development initiatives, many young people in Botswana continue to fail to grow their businesses into sustainable and successful companies that can help reduce unemployment.

University of Botswana researchers Gaofetege Ganamotse and Rudolph Boy who compiled findings in the 2022 study report for Botswana stated that as part of the study interviews were conducted with successful youth entrepreneurs to understand their critical success factors.

According to the researchers other participants were community leaders, business mentors, Ministry of Trade and Industry, Ministry of Youth, Gender, Sport and Culture, financial institutions, higher education institutions, non-governmental institutions, policymakers, private organizations, and support structures such as legal and technical experts and accountants who were interviewed to understand how they facilitate successful youth entrepreneurship.

The researchers said they found that although Botswana government is perceived as the most supportive to businesses when compared to other governments in sub-Saharan Africa, youth entrepreneurs still face challenges when accessing government funding. “Several finance-related challenges were identified by youth entrepreneurs. Some respondents lamented the lack of access to start-up finance, whereas others mentioned lack of access to infrastructure.”

The researchers stated that in Botswana entrepreneurship is not yet perceived as a field or career of choice by many youth “Participants in the study emphasized that the many youth are more of necessity entrepreneurs, seeing business venturing as a “fall back. Other facilitators mentioned that some youth do not display creativity, mind-blowing innovative solutions, and business management skills. Some youth entrepreneurs like to take shortcuts like selling sweets or muffins.”

According to the researchers, some of the youth do not display perseverance when they are faced with adversity in business. “Young people lack of an entrepreneurial mindset is a common challenge among youth in business. Some have a mindset focused on free services, handouts, and rapid gains. They want overnight success. As such, they give up easily when faced with challenges. On the other hand, some participants argue that they may opt for quick wins because they do not have access to any land, machinery, offices, and vehicles.”

The researchers stated that most youth involved in business ventures do not have the necessary training or skills to maintain a business. “Poor financial management has also been cited as one of the challenges for youth entrepreneurs, such as using profit for personal reasons rather than investing in the business. Also some are not being able to separate their livelihood from their businesses.

Lastly, youth entrepreneurs reported a lack of experience as one of the challenges. For example, the experience of running a business with projections, sticking to the projections, having an accounting system, maintaining a clean and clear billing system, and sound administration system.”

According to the researchers, the participants in the study emphasized that there is fragmentation within the entrepreneurial ecosystem, whereby there is replication of business activities without any differentiation. “There is no integration of the ecosystem players. As such, they end up with duplicate programs targeting the same objectives. The financial sector recommended that there is a need for an intermediary body that will bring all the ecosystem actors together and serve as a “one-stop shop” for entrepreneurs and build mentorship programs that accommodate the business lifecycle from inception to growth.”

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Business

BHC yearend financial results impressive

18th July 2022
BHC

Botswana Housing Corporation (BHC) is said to have recorded an operating surplus of P61 Million, an improvement compared to the previous year. The housing, office and other building needs giant met with stakeholders recently to share how the business has been.

The P61 million is a significant increase against the P6 million operating loss realized in the prior year. Profit before income tax also increased significantly from P2 million in the prior year to P72 million which resulted in an overall increase in surplus after tax from P1 million prior year to P64 million for the year under review.

Chief of Finance Officer, Diratsagae Kgamanyane disclosed; “This growth in surplus was driven mainly by rental revenue that increased by 15% from P209 million to P240 million and reduction in expenditure from P272 million to P214 million on the back of cost containment.”
He further stated that sales of high margin investment properties also contributed significantly to the growth in surplus as well as impairment reversals on receivables amounting to P25 million.

It is said that the Corporation recorded a total revenue of P702 million, an 8% decrease when compared to the P760 million recorded in the prior year. “Sales revenue which is one of the major revenue streams returned impressive margins, contributing to the overall growth in the gross margin,” added Kgamanyane.

He further stated professional fees revenue line declined significantly by 64% to P5 million from P14 million in the prior year which attributed to suspension of planned projects by their clients due to Covid-19 pandemic. “Facilities Management revenue decreased by P 24 million from P69 million recorded in prior year to P45 million due to reduction in projects,” Kgamanyane said.

The Corporation’s strength is on its investment properties portfolio that stood at P1.4 billion at the end of the reporting period. “The Corporation continues its strategy to diversify revenue streams despite both facilities management income and professional fees being challenged by the prevailing economic conditions that have seen its major clients curtailing spending,” added the CEO.

On the one hand, the Corporation’s Strategic Performance which intended to build 12 300 houses by 2023 has so far managed to build 4 830 houses under their SHHA funding scheme, 1 240 houses for commercial or external use which includes use by government and 1 970 houses to rent to individuals.

BHC Acting CEO Pascaline Sefawe noted that; BHC’s planned projects are said to include building 336 flat units in Gaborone Block 7 at approximately P224 million, 100 units in Maun at approximately P78 million, 13 units in Phakalane at approximately P26 million, 212 units in Kazungula at approximately P160 million, 96 units at approximately P42 million in Francistown and 84 units at approximately P61 million in Letlhakane. Emphasing; “People tend to accuse us of only building houses in Gaborone, so here we are, including other areas in our planned projects.”

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