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Standard Chartered Future-makers reach a milestone

After the pandemic, lock-downs, wars, price hikes challenges, a group of young and emerging entrepreneurs powered by Standard Chartered Bank Botswana managed to swerve through challenges and be stable in the market.

Young Africa Botswana (YAB) is a locally registered Trust registered in 2016, partnered with the Ministry of Youth, Gender, Sports and Culture at the time, with the primary objectives of establishing the first young Africa skills centre here in Botswana, empowering young people to be self-reliant through entrepreneurial skills training, life skill training and talent development. It is also set out to improve the self-confidence, the dignity in livelihoods of young people in Botswana.

The Lady Masire Center was assigned to us in 2018, and we were welcomed with open arms, said Mimi Modimakwane, Board Member of Young Africa Botswana.

Since their establishment at Lady Masire Center, they have trained and mentored 2 246 youths and more than 13 000 have been reached through various events and activation.

Mimi further said they found a huge gap of entrepreneurial skills in Botswanas education system, and as such they found a niche in training the youth in that area and in the development of the creative industry.

We grew in this direction very naturally, responding to the demands of the market, interest of the youth and support from our donors and at the same time, our own vision of the future of Botswana, added Mimi.

The success of Future-makers enabled YAB to be a member of Youth Business International, which is a network of organizations in over 55 countries supporting undeserved young people to turn their ideas into successful businesses. YAB intends to create value and impact by focusing their work in education on the areas not only relevant in the future of Botswana, but also the future of the world. Through this, we devote ourselves to changing the perception of the African continent, Mimi said.

Standard Chartered, celebrating their 125years in existence in Botswana this year, is proud of their Future-makers project as it already bears fruits together with their partner YAB.

The theme for this years launch is It Works. We say it works because we have proof of what work happens here. We monitor, and we evaluate this program and continuously ensure that our alumni walks out with not just recognizable knowledge and skill but also with confidence that they are men and women who can represent their brands themselves, said Standard Chartered CEO, Mpho Masupe.

A total of 1 280 beneficiaries have been served with 8 programs, exceeding the target of 1 139 that was set. 20 industry experts were engaged to share their expertise with 464 beneficiaries over 7 master classes. 20 beneficiaries participated in the business mentor-ship program guided by 16 mentors.

500 visitors were assisted in the business one-stop shop at the center, Standard Chartered also assists with Youth Development Fund (YDF) applications and 60 percent of beneficiaries are said to be women. 89 percent of all the beneficiaries are economically active and a number of them were in the recent Forbes 30 held recently.

The Deputy Permanent Secretary of the Ministry of Entrepreneurship, Lameck Nthekela said being a futuristic Ministry, are excited to be involved with bringing together the youth and infusing entrepreneurship.

With the Covid-19 pandemic affecting us, it is such programs that ensure we re-skill and re-energize the youth to be able to start and grow their businesses, concluded Nthekela.

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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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Global CEOs Back Plan to Unlock $3.4 Trillion Potential of Africa Free Trade Area

23rd January 2023

African heads of state and global CEOs at the World Economic Forum Annual Meeting backed the launch of the first of its kind report on how public-private partnerships can support the implementation of the African Continental Free Trade Area (AfCFTA).

AfCFTA: A New Era for Global Business and Investment in Africa outlines high-potential sectors, initiatives to support business and investment, operational tools to facilitate the AfCFTA, and illustrative examples from successful businesses in Africa to guide businesses in entering and expanding in this area.

The report aims to provide a pathway for global businesses and investors to understand the biggest trends, opportunities and strategies to successfully invest and achieve high returns in Africa, developing local, sub-regional and continental value chains and accelerating industrialization, all of which go hand in hand with the success of the AfCFTA.

The AfCFTA is the largest free trade area in the world, by area and number of participating countries. Once fully implemented, it will be the fifth-largest economy in the world, with the potential to have a combined GDP of more than $3.4 trillion. Conceived in 2018, it now has 54 national economies in Africa, could attract billions in foreign investment, and boost overseas exports by a third, double intra-continental trade, raise incomes by 8% and lift 50 million people out of poverty.

To ease the pain of transition to its new single market, Africa has learned from trade liberalization in North America and Europe. “Our wide range of partners and experience can help anticipate and mitigate potential disruptions in business and production dynamics,” said Børge Brende, President, and World Economic Forum. “The Forum’s initiatives will help to ease physical, capital and digital flows in Africa through stakeholder collaboration, private-public collaboration and information-sharing.”

Given the continent’s historically low foreign direct investment relative to other regions, the report highlights the sense of excitement as the AfCFTA lowers or removes barriers to trade and competitiveness. “The promising gains from an integrated African market should be a signal to investors around the world that the continent is ripe for business creation, integration and expansion,” said Chido Munyati, Head of Regional Agenda, Africa, World Economic Forum.

The report focuses on four key sectors that have a combined worth of $130 billion and represent high-potential opportunities for companies looking to invest in Africa: automotive; agriculture and agroprocessing; pharmaceuticals; and transport and logistics.

“Macro trends in the four key sectors and across Africa’s growth potential reveal tremendous opportunities for business expansion as population, income and connectivity are on the rise,” said Wamkele Mene, Secretary-General, AfCFTA Secretariat.

“These projections reveal an unprecedented opportunity for local and global businesses to invest in African countries and play a vital role in the development of crucial local and regional value chains on the continent,” said Landry Signé, Executive Director and Professor, Thunderbird School of Global Management and Co-Chair, World Economic Forum Regional Action Group for Africa.

The Forum is actively working towards implementing trade and investment tools through initiatives, such as Friends of the Africa Continental Free Trade Area, to align with the negotiation process of the AfCFTA. It identifies areas where public-private collaboration can help reduce barriers and facilitate investment from international firms.

About the World Economic Forum Annual Meeting 2023

The World Economic Forum Annual Meeting 2023 convenes the world’s foremost leaders under the theme, Cooperation in a Fragmented World. It calls on world leaders to address immediate economic, energy and food crises while laying the groundwork for a more sustainable, resilient world. For further information,

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