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Botswana beef under threat

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•  Buffalo incursion into FMD-free zone likely to dent market confidence

 

Agricultural economists believe it might be too little too late, as the lapse in cordoning off buffaloes from free Foot and Mouth Disease (FMD) zone (green zone) might bring fear to Botswana’s beef consumers. Buffaloes are natural carriers of FMD which multiplies and spreads from them, but does not affect these animals. The fear arises after some buffaloes were spotted at Moreane in the Letlhakane East extension in Southern district.

 
Therefore, any cattle from the red zone (affected area) are vaccinated there to prevent infection, and are not moved out of that zone or their products sold to other countries.
Minky Monkhei, an agricultural economist, says the latest buffalo incursion in an FMD-free zone instills fear in Botswana beef consumers. “It also reduces trust in our beef,” she said, adding that more needs to be done locally to manage FMD and protect the beef market.

 
According to Monkhei, FMD has been there even before Botswana Meat Commission (BMC) came into existence, but mitigating measures were not adequately put in place. She says now it is even more difficult because people co-exist with wildlife. “We need to manage our animals well. The number of people and animals is increasing while the land remains the same,” she noted, explaining that this brought conflict between the two.

 
According to the Department of Veterinary Services, it took a decision to “suspend animal movement in the affected areas”. In view of this situation, the department also took a decision that cloven hoofed animals and their products should not be not allowed into, out of and within zone 11 (Southern, Kgatleng, South East and Kweneng districts). The slaughter of cloven hoofed animals at all slaughter facilities in zone 11 is also suspended with immediate effect. Veterinary Department also noted that movement of cloven hoofed animals and their products remains unchanged in other zones.

 

The buffalo incursion has raised fears that EU market with stringent hygiene standards might make it even more difficult for Botswana beef to reach it.

 
Meanwhile, the move is set to negatively affect BMC and farmers. The Commission that recently retrenched more than 100 of its employees from Francistown abattoir has halted operations as various stakeholders are trying to figure out the implosion of buffaloes in FMD-free areas.

 
BMC Chief Executive Officer (CEO) Dr Akolang Tombale only hopes that the situation will be addressed soon. “We have just got the news and we are evaluating,” he said, further stating that operations will resume once the ban on movement of cloven hoofed animals and their products from the affected areas is lifted. While the ban remains in place BMC will not be able to slaughter its normal quota of 600 cattle daily. “We have halted operations. There is nothing much we can do as long as the ban is in place.”

 
The buffalo incursion has raised fears that EU market with stringent hygiene standards might make it even more difficult for Botswana beef to reach it. Botswana supplies EU with beef from the green zone, which is experiencing buffalo incursion. In 2011 European Union (EU) market banned Botswana beef after the country failed to meet the union’s hygiene standards.

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Collins Newman & Co moves to muzzle this publication

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•  They demand publication stops further coverage of the case
• Newspaper reported extensively on court ruling
• Court found law firm’s lawyers guilty of fraud
• Threatens P7.5m lawsuit

 

 

Collins Newman & Co, the law firm at the centre of the recent judgment by High Court Judge Dr Zein Kebonang this week sought to interdict The Business Weekly & Review from further reporting on the story. In the recent judgment in which Collins Newman & Co. were representing Bank of Botswana against EBC Guerseny creditors of the defunct Kingdom Bank, the company’s lawyers were found to have forged court documents.

 
The latest development comes two weeks after the law firm’s Managing Partner Park Tafa sent a threatening  SMS to the publication’s Editor, Tshireletso Motlogelwa, that The Business Weekly & Review would be punished heavily for its coverage of the case.  The newspaper had given an extensive coverage on the High Court judgment.

 
This week the law firm delivered a strongly worded letter to the newspaper’s offices flush with demands among them stoppage of any further reporting on the story, a retraction and an apology on the coverage over which Collins Newman & Co would have editorial control.

 

Of particular interest to Collins Newman & Co is a series of questions the publication sent to some of the law firm’s client.

 
Of particular interest to Collins Newman & Co is a series of questions the publication sent to some of the law firm’s clients enquiring about their position on their association with the law firm in light of  the adverse judgment. The law firm demands that the newspaper withdraws the questionnaire, which they say has been formulated to destroy their business interests and relationships.

 
The law firm says the newspaper has wrongly interpreted Kebonang’s judgement, adding that the court never made fraud findings against the law firm. “Had you attempted to analyse the judgment as well as the previous judgments and orders (…) it would have been clear that no findings of fraud were in fact made either against the firm or its partners.

 

The articles published misrepresent the findings of the Court in material respects and were clearly intended to sensationalise the Court proceedings and cause maximum possible reputational and economic damage to the Firm, its Partners and Senior Associate,” states the letter.

 

They law firm warns that it would seek to have the newspaper interdicted from any further publication on the subject matter.

 
The law firm states that the reporting on the case has damaged the law firm’s partners as public figures, and privately.  The law firm demands that The Business Weekly & Review removes all articles from the newspaper’s electronic platforms and stops contact with the (law firm’s) clients.

 
As a means of redress Collins Newman & Co wanted the paper to have met the demands by Wednesday this week, failure of which they would proceed with litigation against the business publication.

 
They law firm warns that it would seek to have the newspaper interdicted from any further publication on the subject matter in addition to seeking compensation of P7.5m accruing from what they deem as economic loss from coverage of the story by the publication.

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judicial openness and corporate governance remains our priority

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The Business Weekly & Review is firmly focused on helping develop an environment conducive doing business, and a vibrant economy for this country. Obviously this focus goes hand in hand with a working society where all the arms of government are functioning optimally and held accountable.  A respected and indeed transparent judiciary is one such vital part of a working society.

 

 

As the Constitution and legal minds have put it, the gates of the court should remain open, for if justice is to be done it has to be seen to be done. For the judiciary to have any semblance of competency the judicial process should be open to ordinary members of the society.  It is in this engagement with the public that gives the judiciary life. Therefore access of the court by journalists is a vital aspect of maintaining a working judiciary that is seen to serve the citizenry without fear or favour.

 

 
The reality however, is that access to court proceedings is not widely available to the public. In covering court proceedings therefore we, as journalists play a key role in assisting the court to fulfill its constitutional mandate of openness and transparency to the public.  We have been following the EBC Guernsey and Bank of Botswana case with a keen interest not just because it put a spotlight on the dark crevices of our judicial process, but because it is our duty to society for us to inform members of our society about the workings of the justice system.

 

As a newspaper we also have a keen interest in making those in position of power to account.

 
But that is just one aspect of what we do. As a newspaper we also have a keen interest in making those in position of power to account. Collins Newman & Co has a very important position in this society.

 
Collins Newman & Co as a respected law firm holds a special position, its lawyers have to be held to the highest ethical standards. The findings by the courtthat lawyers of Collins Newman & Co engaged in unethical and even possible criminal behavior is not a light matter. The law firm’s attempt subsequent and continuous attempt to frustrate The Business Weekly & Review reporting raising issues is that go to the heart of the judicial system is regrettable.

 
We see Collins Newman & Co’s aggressive attempt to choreograph and manage the discourse around corporate governance and indeed potentially criminal behavior a matter of concern.  It smacks of arrogance and a refusal to be accountable. Issues of ethical concern demand ethical accountability.

 
The law firm especially the partners cannot simply regard this matter as just another day at the office. The court itself has concluded that the lawyer of the law firm, and indeed the law firm’s client, engaged in behavior that was not unethical but potentially criminal in nature. Such actions as forgery of court documents by a lawyer from the law firm should bring the law firm to a state of deep introspection, rather an extreme sense of indignation at journalists reporting on court findings.

 

It is a matter of public interest to know how government companies regard matters of corporate governance.

 
But the matter does not end with the law firm. Parastatals who every year go back to the treasury to seek funding need to meet the highest standards of corporate governance and indeed a way to account to the tax payer for their actions. It is a matter of public interest to know how government companies regard matters of corporate governance. Indeed listed companies have to hold themselves to even higher standards of governance.

 
It is important for those seeking to invest on the stocks of such companies, to get an informed view of how these companies regard the ethical conduct of anyone who supplies them with services, especially the lawyers on whom they depend for legal advise. All these are valid questions that neither the parastatal nor the listed companies can avoid.

 
We at The Business Weekly & Review take our responsibility to report on all matters of public interest very seriously. It is a principle for which we are prepared to engage relentlessly without malice. We remain committed to giving this story the coverage it deserves.
Editor – Tshireletso Motlogelwa

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Barclays dangles carrot to the diamond sector

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Head of Corporate and Investment Banking at Barclays Bank of Botswana Kgotso Bannalotlhe says his bank now envelopes the diamond industry under its corporate banking unit, and that it is going full-force into partnering with diamond traders.

 
This week, Bannalotlhe said that Barclays initially did not provide services to the diamond industry until lately under the new strategy that came with incumbent Managing Director (MD) Reinette van der Merwe. Under the new stratergy, Barclays wants to strengthen its corporate banking portfolio, which has seen the Botswana Stock Exchange-listed outfit snatching some of the big corporates into its fold.

 
The banking boss says that despite the volatility in the diamond sector, with a suppressed demand and declining prices, Botswana remains a mining country with an economy reliant on diamonds.
“As a major financial institution in Botswana, it would have been wrong for Barclays to ignore the diamond sector,” he said.

 

Barclays initially did not provide services to the diamond industry until lately under the new strategy .

 
As a result, the bank has decided to become a trusted partner not only to major diamond miners but to sight holders. Bannalotlhe said the bank had committed to partnering with sight holders, which will see Barclays financing the diamond cutting and polishing companies as well as mentoring and supporting them towards prosperity.

 
However, the bank will, according to him, be cautious of risks that come with the mining sector. For starters it appears that Barclays will only associate with large miners at corporate and investment banking level, because junior miners are way too risky.
Despite huge appetite in corporate financing, Barclays says it does not have an appetite for junior miners in the metal industry.

 

Last year, Discovery Metals Limited (DML) shut down operations at its Boseto Copper project, shedding over 400 in employment. Further, African Copper, another major producer was liquidated and hundreds of employees lost jobs. These copper mining firms were depressed by the softening of copper prices after China reduced demand for commodities because of the slowing economic growth. The two mines were heavily indebted and could not honour their financial obligations leading to liquidation.

 

We want to do transactions that are meaningful to the economy while they are making money on the other side.

 
Despite this set-back with junior copper miners, Bannalotlhe says mining is one sector where there see potential. “Botswana economy is driven by mining so we cannot ignore this sector, and we believe that it go through its circle and normalise again,” he pointed out.

 
On risk reduction to the companies they assist financially, Bannalotlhe says they help their clients remove risk elements in their businesses. “We have been successful in this instance,” he says, adding that their customers have benefited from them in this instance. “We will be dealing with sight holders who have experience in the cutting and polishing industry who know their way around the industry,” he said.

 
Of late Barclays has shown intentions to be muscular in corporate banking.  It is not only wooing the mining sector, but the blue-chip financial services and retail institutions which are finding their way into the larger African market. It has also been evident that corporate banking was the main driver of Barclay’s revenue at 39 percent during the bank’s latest full year results.

 
His strategy is to “help companies that drive Botswana’s economy”. More specifically, these are pan-African companies with vigorous expansion plans. Barclays also plans to be more vigorous on the public space. “We want to do transactions that are meaningful to the economy while they are making money on the other side. As a committed bank, Bannalotlhe says Barclays want to have a lasting legacy on infrastructural development in Botswana. He says they will do so by serving government parastatals which supports the economic growth of Botswana.

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Auditors doubtful of smooth correction of Morupule B defects

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•  BPC records 274.91 million in losses
•  Corporation may foot bill for extra remedial costs

 

A veil of uncertainty surrounds the satisfactory remedy of the defects caused by the contractor at Morupule B, according to the latest report of the Auditor General for the year ended March 31, 2015. The report notes that the costs to fix the defects had been estimated at USD 176 million.

 
The report further points out that the Botswana Power Corporation (BPC) was likely to bear additional remedial costs, should the contractor fail to adequately address the defects. “The estimated rectification period was three to four years,” the report says.

 
The auditors recommends that management should ensure that the costs already incurred and costs to be incurred for Morupule B project be correctly accounted for in line with International Financial Reporting Standards (IFRS).

 
In its response BPC management indicated that an external IFRS specialist was engaged to ensure a balanced technical assessment that could support their decision and that a management representation would be sufficient to clarify the gaps that the auditors might be having.

 
The report also says the corporation was exposed to a number of quantified and unquantified claims by a contractor in relation to implementation of Morupule B, which the board and management believed were less that the counter claims against the contractor.
Meanwhile, in the year under review, BPC recorded a loss of P274.91 million, compared to P61.5 million in the previous year.

 

“The loss arose from the expenses of P5.63 billion against the income of P5.36 billion,” the report says. It further states that the income comprised revenue of P2.53 billion, other income of P79.26 million, tariff subsidy and emergency power grant of P2.33 billion, interest income of P20.59 million and fair value gains on cross currency and interest rate swap of P398.32 million.
The expenditure comprised of generation, transmission and distribution expenses of P4.22 billion, administration and other expenses of P380.27 million, finance costs of P170.82 million and net exchange losses of P863.70 million.

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G4S results strong, despite economic challenges

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The sole listed security services company, G4S (Botswana) Limited has seen a strong growth in revenue, despite the challenging economic environment. The leading security services firm announced a revenue growth of 3.8 percent, which stood at P207.9 million for the year ending 31st December 2015, but was achieved despite a challenging economic environment.

 
While there was strong growth in Cash Solutions, Manned Security and Facilities Management there was, however, a decline in Electronic Systems revenue, following deliberate initiatives to right size the alarm monitoring subscriber base for credit reasons.
G4S operates 5 segments being, Electronic Security Systems, Manned Security, Cash Solutions, Facilities management and Cleaning Services. The segmental reporting shows that electronic Security Systems remains the largest contributor to G4S revenue, although revenue from that segment fell from P68.6 million during the 2014 reporting period, to the P64.7 million in 2015.

 

G4S also operates a cleaning services segment, which also saw a marginal rise to P16.4 million.

 

 

Revenue seen from Manned Security on the other hand saw a significant rise from P57.9 million in 2014, to P62.7 million during the 2015 reporting period. Under manned security, G4S provides individuals and institutions with guards, who take care of properties during the day and overnight. It is possible that G4S has seen an increase in the demand for manned security hence the increase in its segmental revenue.  Cash solutions revenue grew by P5.8 million to close the 2015 financial year at P60.9 million in revenue while Facilities management grew marginally to close the 2015 full year at P3.7 million.

 
G4S also operates a cleaning services segment, which also saw a marginal rise to P16.4 million from the P15.9 million seen previously. At P39.1 million earnings before taxation were 8.8 percent higher than the previous corresponding period, while net earnings at P29.5 million were only 2.4 higher than for the corresponding year.

 

The company wants to focus on service improvements and the strengthening of customer relations.

 
Managing Director (MD) Michael Kampanisaid this was mainly due to new and retained business as a result of sustained operational stability, success of cost efficiency programs, and investment income out of a healthy cash flow.  He said that having attained the key objective of consolidating and sustaining the gains made in the turnaround achieved in the previous year, focus will continue towards implementation of productivity and other cost efficiency programs in order to sustain and grow profitability.

 
Though the market remains challenging, G4S remains upbeat stating that there are good growth prospects across all products. The company wants to focus on service improvements and the strengthening of customer relations. “There will be strides to roll out innovative product offerings in integrated security, cash solutions and risk management among others,” Kampani said.

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‘Stampede’ sees BTCL share price up 34 percent

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Newly listed Botswana Telecommunications Corporation Limited (BTCL) share price rallied 34 percent year-to-date (YTD), thanks to the good investor reception. By close of trading bells on Wednesday evening, the Paul Taylor-led company traded at 134 Thebe each, a significant jump from the 100 Thebe which the company traded when it commenced on Botswana Stock Exchange (BSE) last week Friday.

 
The share price exceeded expectations by Motswedi Securities Head Researcher Garry Juma who said last week that within the first six months, he would not be surprised if the share price jumps up to trade at around 115 Thebe each.  In one week’s time, the share price is now at 134 Thebe each.

 

Choppies shed 2 Thebe to close the session at 408 Thebe.

 
He said that demand for BTCL shares, as evidenced by a massive over-subscription, could lead to a jostle for its shares, which would consequently push up the share price. There was a “stampede”, for the BTCL shares after the company received 776 333 400 share offer applications against the available 462 000 000, leading to an over-subscription of 314 000 000 shares.

 
Meanwhile, local equities were subdued as they traded on paltry volumes without any notable counter trading. Share price of the blue-chip micro lender Letshego jumped by 1 Thebe to trade at 252 thebe by Wednesday. However, retail giant Choppies shed 2 Thebe to close the session at 408 Thebe as investors scrutinise the retail giant’s vigorous growth strategy against its relatively higher P/E ratio. Consequently the Domestic Companies Index (DCI) ended three basis points down closing with 10,292.58 points.

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Tap into women in your team

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Diane Von Furstenberg the leading woman and founder of the fashion brand DVF said, “ I have never met a woman who is not strong because all women are strong. This strength is apparent in times of tragedy for it is only when they have no choice but to be strong.”
Last week Botswana joined the rest of the world in commemorating the international Women’s day. Sometimes I wonder what happens after these celebrations, do people go back to their offices and continue with business as usual or do they go back energized to do more for women’s agenda.

 
The truth is that women in business the world over are a marginalized minority and are often at the low end of the income disparity. While today there is growing body of evidence to prove that the rich are not only getting richer but also that the poor are getting poorer. The majority of those affected by poverty and unemployment are women. We know that women make better leaders than men, that they are more considerate and inclusive in their decision making, yet we continue to see more men dominate in the leadership arena, why?

 
We know that all over the world women of the same talent and ability earn less than their male counterparts across all professions. Humanity may have progressed in many ways but when it comes to gender relations, compensation and income disparity we are still in medieval times. It is because of this reason that last week Marc Benioff the CEO of Salesforce.com a cloud computing company announced that they are correcting the income disparity within their organization. As it turned out all the women working in his 17 000 employee organization were collectively being under paid by three million dollars a year. They did not only stop there they made a conscious decision to start promoting women and have women make up at least one third of their management and customer events.

 

Men are good at making up their minds and taking action.

 
As can be expected Marc Benioff has been met with criticism for his move as well as applause. However the one thing that can be said is that men will defend their turf. They will probably not have any of that fair pay talk. They will argue that organizations are best placed to protect their interests and that if necessity demands that men be paid more than women and be promoted more then so be it. This as we know is a flawed argument; we know how hard it is for men to admit mistakes and to take corrective action.

 

 

 

Men are good at making up their minds and taking action, however, it is because they are very good at making up their minds that makes them poor at consensus building, admitting mistakes and taking corrective action. Women on the other hand as research has shown are generally not that good at making decisions alone but instead are very good at consensus building and more likely to admit when wrong and take remedial action.
According to research conducted by the Mckinsey Global Institute companies that have a higher ratio of women in their executive committees generally outperform those that have more men. So why are we not seeing more women in the leadership pipe line and in the areana?

 

 
Under President Lula Da Silva Brazil managed to dramatically reduce the level of inequality amongst its poor, it has been hailed as the most successful poverty eradication program in the world. Its model is now being exported to other parts of the world.  It worked by giving poor families an allowance based on the condition that parents will have their children vaccinated and sent to school. Because of that program millions of Brazilians have now joined the middleclass and no longer require government assistance. A key component of the Bolsa Familia program as it is called is that they insist on paying the allowance to the mother as opposed to the father. Results suggested that women were better at lifting their families out of poverty if they were the primary administrators of the family allowance than men were.

 
Of course we know that women are generally better at managing and uniting the family. Women it seems as Diane Von Furstenberg said are a lot stronger than they are given credit for. However, we don’t have to wait for tragedy to tap into the strength that women possess. We need to co-opt them into positions of leadership so that we can use their strength and community building abilities. Women need to be encouraged especially that research reveals that in early stages of their careers they need to have their confidence nurtured as they tend to doubt themselves in a male dominated world.

 

The problem with men is that we think we know it all.

 
As the world we are living in becomes increasingly complex and things are no longer black and white the old command and control structures of leadership are crumbling. Not only is the world no longer black and white but there are thousands shades of grey. This means we will be more wrong than we are right and this means we can longer afford to hide our mistake behind macho bravado and self-righteous self-justification. We need leaders who will not only own up but who will build consensus from the get go as well as take remedial action. Organizations that will succeed in the future will be those that open themselves up to the talent and the possibilities that is represented by the other half of humanity. So the question is, what are you doing to tap into the collective pool of strength, talent, resilience and leadership ability that women represent?

 
The problem with men is that we think we know it all, That is why we think the best way to solve problems is to prove that we are right at all costs. Seriously look at what Assad did to Syria and the ripple effect of that conflict. Not to mention how Burundi’s Pierre Nkurunziza plunged the Central African Republic into chaos by seeking a third term against the backdrop of popular public descent. Similar tragedies induced by the male ego happen all the time in business and other aspects of life, they do so at a tremedous cost our collective progress as humanity.

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Maitisong Festival set to ‘engage’

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The Maitisong Festival—a growing platform that continues to portray thrilling local talent in its various expressions, launched its campaign for its annual five day event at a press conference on the 15th of March. Having carved its place as the biggest arts festival in Botswana for almost 30 years now, the event represents an array of art forms from theatre, music, comedy, dance to visual arts, and is scheduled to run from April 11-16 in various venues across the city.

 
“We aspire for artists to show up, to take advantage of this platform and promote their art at all levels,” stated Gao Lemmenyane, who is the director of the annual Maitisong festival, as he unveiled the festival’s line up and sponsors.
With a refreshed logo, the festival will be under the theme ‘engage’, which extends from last year’s theme ‘elevate’ that focused on professionalizing the arts. “Over the years, the Maitisong Festival has been committed to nurturing the arts in their various disciplines with the intention of taking local talent to greater heights. We want artists to recognize the value of not only engaging audiences but companies and international counterparts as well,” said Lemmenyane. He added that artists must also be educated about platforms such as ‘Art Moves Africa’ that could assist them with funding their projects.

 
Through its versatile five day line-up, the festival will feature nationally known headliners, upcoming talents and international acts. Some of the acts scheduled to participate include TJ Dema,  Mophato Dance Crew, Sky Blue Dance Hub, Brenda Taukobong, Lesego Nchunga just to mention a few. Workshops will also be facilitated in a bid to educate artists on refining their crafts.
“I will be debuting my first documentary during the festival and I am so thankful for Maitisong for granting me the opportunity,” delighted upcoming visual artist and dancer Wabo Motiki.

 

Registration fees have been introduced to the festival this year, something that some artists questioned.

 
Elena Andreotti spoke on behalf of the U.S Embassy, revealing their collaboration with Mophato Dance Crew in what is to be a dance enactment of their role in Botswana: “The U.S Embassy is happy to support Maitisong, as we have done in the past. Our grant to the festival will go to the facilitation of workshops and also to Mophato, who will be demonstrating engagements the U.S has had with Botswana over the past 50 years.”
This year’s festival comes at a time that Botswana will be celebrating its 50 years of independence, and some performances will be highlighting this celebration. “The arts continue to play a pivotal role in advancing peace and stability while contributing to the socio-political and economic discourse through art works of integrity, and as Maitisong we are excited to join in the festivities to congratulate the leaders and all people of Botswana,” noted Lemmenyane.

 
“We are interested in collaborating with Botswana artists in the future, and Maitisong gives us a preview of the talents in this country,” remarked South African event promoter Mike Tladi.
Registration fees have been introduced to the festival this year, something that some artists questioned. “Prior to this year, there have been no registration fees for participating artists. However, we have realized that it’s quite financially challenging to ensure that the artists have quality sound and appealing stage setups, so the fees will assist us in ensuring artists have an overall quality experience,” explained Lemmenyane.
Maitisong Festival is sponsored by Gabz FM, Thapong Visual Arts Center, Sgotti Cocktail Bar and Lounge, Gaborone City Council, U.S Embassy and Ministry of Youth and Culture.
For more information on scheduled shows and ticket fees, visit their website: www.maitisong.org

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Barclays goes for corporate banking in a spirited fashion

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While the blue-chip companies in Botswana are busy finding their way into the broader African market, Barclays Bank Botswana through its Corporate Banking unit is planning to increase its support for these corporates thus fattening returns. Currently, corporate banking is the main driver of Barclay’s revenue at 39 percent, and the bank’s plan is to see that trend continuing to grow. In fact, Barclays Bank Head of Corporate and Investment Banking Kgotso Bannalotlhe admits that the bank will now be more vigorous on corporate banking which is less risky and slow down on the retail aspect.
His strategy is to “help companies that drive Botswana’s economy”. More specifically, these are pan-African companies with vigorous expansion plans. “We are well placed to support these companies with finance,” he added.
Bannalotlhe singled out companies such as Choppies and Turnstar as some of the entities that have benefitted from Barclays’ corporate banking and are now firmly entrenched in Africa. The advantage for these blue-chip companies is; they have fewer risks and limited exposure to economic headwinds unlike small companies. He says Botswana companies are financially strong and can survive a downturn. “Despite going through difficult times they still manage to service their loans,” Bannalotlhe says.
Barclays also plans to be more energetic  on the public space. “We want to be a meaningful player on the public space,” he says, explaining that they want to conduct transactions that are meaningful to the economy while they are making money at the same time.  Bannalotlhe says Barclays is committed to a lasting legacy on infrastructural development in Botswana by serving government parastatals that supports the economic growth of the country.

 

These copper mining firms were depressed by the softening of copper prices after China reduced demand for commodities because of the slowing economic growth.

Despite the huge appetite for corporate financing, Barclays says it is not eager to do business with junior miners in the metal industry.  Last year, Discovery Metals Limited (DML) shut down operations at its Boseto Copper project, shedding over 400 workers. Further, African Copper, another major producer, was liquidated and hundreds of employees lost jobs. These copper mining firms were depressed by the softening of copper prices after China reduced demand for commodities because of the slowing economic growth. The two mines were heavily indebted and could not honour their financial obligations leading to liquidation.
Despite this set-back with junior copper miners, Bannalotlhe says overall mining is one sector where there is still potential. “Botswana’s economy is driven by mining so we cannot ignore this sector, and we believe that it will go through its cycle and normalise again,” he pointed out, adding that their strict risk management will be utilised when funding mining companies. Bannalotlhe says they help their clients to avoid risk elements in their businesses. “We have been successful in this instance,” he says, adding that their customers have benefited from the effort.
He says what Barclays does in corporate banking is not to solely fund a company in what he called transactional banking and leave it on its own, it also assesses an entity’s strategy for the next five years and also assists with business advice to ensure that the company achieves whatever goal they are aiming for.  “By doing this we also minimise risks of default when companies fail to break through,” Bannalotlhe says.

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BSE should open up and not become domain for select few

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Despite having been in operation for several years now it is common knowledge that a majority of our citizens have very little knowledge about the Botswana Stock Exchange (BSE). This became evident at the recent conference where even established local business leaders expressed lack of information in as far as the role and operations of the BSE are concerned. What is most worrying is the fact that this was coming from the BSE’s potential customers. The lack of knowledge by these customers will in the long haul limit the growth of the local bourse and this could have a great impact on the economy as a whole going forward.

 
In the simplest of terms the stock exchange provides alternative source of capital/investment funds for enterprises compared to the traditional loans while simultaneously providing savers with alternative investments options instead of bank deposits. It is, however, not all the BSE’s fault that it is largely unknown. The BSE’s major undoing also happens to be its greatest customer; the institutional investors.
Institutional investors have large amounts to invest against the limited number of options on the “still growing” stock exchange. What this then does is that it crowds out the individual investors making activities on the bourse seem more like the preserve of a select few.

 

What the BSE needs to do is to adopt the same model that is used by banks to target customers.

 
The thing is we cannot demonise the institutional investors as they also need to earn returns on their funds. If we look at some of the most recent listings one would notice that there has always been a sizeable portion reserved for the retail investors but the questions are for how long will that be and is it something that is sustainable ? What the BSE needs to do is to adopt the same model that is used by banks to target customers – categorise them either into penny stocks and blue chip companies or whatever model works for them and come up with an annual target for listings.

 
The idea of targeting mines, banks, properties and retail giants is also feeding into the myth that the BSE is but a preserve of the sophisticated few. The BSE needs to be able to attract other industries such as manufacturing, transportation, technology companies etc in order to increase investment options on the bourse in order to create room for individual investors. Stories of individuals striking gold on the stock market are likely to give the bourse more mileage than any commercial advert or roadshow ever would.

 

So instead of curtailing the activities of the institutional investors in order to accommodate the retail investors what we need to do is to focus on getting as many companies as possible to list. Some companies are folding due to the high cost of borrowing oblivious to the fact that the BSE offers alternative source of capital which might turn out to be cheaper or even less burdensome compared to debt. Start-ups should know the listing requirements in order to give them a goal to work towards.

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The arrest and hide game, stop the rot and get rid of the journo

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The theory, implied as it is, that is being paddled by some, including the Government – that portrays journalists (and is intended to justify the pattern of arrests) as people hell-bent on jeopardising the national security of Botswana has little basis in reality, that theory, together with the conduct that that accompanies it, is the thing that jeopardises the name, image and standing of the Republic.

 
The people of Botswana are not an unjust bunch. They understand the idea of justice. It is their forefathers who invented the Kgotla system – whilst rampant with imperfections, it was conceived out of a perfect idea – that of justice. When they gathered at Central Police Station it was not to say Sonny Serite is immune from the law,  they accept with their whole hearts the basic principle that those who are suspected of breaking the law must answer the charge. But those who arrest and charge has to be done according to the law.

 

Botswana is founded on that idea, that the people will keep their promise of obeying the law (and accepting penalties for violation) as long as the government also keeps its part of the bargain, that of using the law for good ends and respecting their fundamental rights. The government is not keeping its part of the bargain, by its threats and its wanton abandon of liberties.

 
For those grappling with the reasons behind this conduct, there are many ways to explain the growing trend of arrests of journalists by State security agents in Botswana – ignorance by them of the protocols and procedures and the need for respect of individual rights is none of them, in fact, to propel that argument is tantamount to committing genocide on the truth. The men (and women, if any) who engage in these acts know what they are doing and they know it when they have violated laws – they consciously and deliberately flout the law – they invest in abuse of power and in the romance of illegality. And so we must ask, why?

 
Listen to Mbulawa, his feelings and body language at perfect unison with his expressions, threaten use of force, “if you do not disperse there will be casualties” –like a leader of some junta military in a bleeding war-torn failed State.  Look at the police, they deprive a man of his liberty – an innocent man (a constitutional presumption he enjoys) and concoct pretexts to deny him of his fundamental right to counsel from his attorney – like they operate under a mafia-infested Machiavellian legal system where the end justifies the means – as if they are under some strict instructions to get him by all means, to get him by nook or crook.

 

The information that the journalists have disclosed is information that, on the face of it, points to abuse of state resources, abuse of public funds or abuse of office.

 
This is not us, and Botswana was not born this way. These police men and women do not get peaceful sleep – it is all against their grain. You see it in their faces – they hate the cartooning, the unnecessary hullaballoo running helter-skelter over some stolen savingram, treating their brother like he ate a child.
For very many years, we kept and ran a police service that did not feed on this emotion-draining absurd drama with its theatre of weaponry, the ignition of fear and intimidation in the citizenry, we did not keep a police force disgusted by assembled concerned citizens. They can brandish their guns, but what harm does a people cause when they assemble, as their constitution permits, to demonstrate?

 
The unending arrest of journalists must be seen in the grand scheme of things – for the phenomenon occurs in a forest of political activity.
In all these cases, the Government has not turned out any matter of national security or disclosure of innocent information that the members of the public should not care to know. In all the cases, the information that the journalists have disclosed is information that, on the face of it, points to abuse of state resources, abuse of public funds or abuse of office.

 

In the Director of DIS case – General Isaac Kgosi, the information that DCEC was seeking to conceal related to corruption allegations against him. Journalists who sought to disclose such information were arrested and harassed and denied the opportunity to consult their attorneys. The Sonny Serite arrest happens in similar circumstances. It is safe to predict that the next arrest (and there will be one and more) a journalist will be arrested for disclosure of such type of information.

 
All the Government wants to play the game of arrest and hide. To this cause, the Government is so committed that it will not even agree to table a draft law for debate before Parliament on disclosure of information and protection of whistle-blowers. And the people, the taxpayers, the voters – from whom the information is being concealed, to whom use of force is threatened when they peacefully assemble, are expected to believe the hype that the Government is fighting corruption, when in reality, it is corruption that is fighting the Government and people’s liberties and winning all the time.

 
We can change. The Government can change – it can take out emotion from its objective ends – follow the law. In the meantime, if the Commissioner of Police does not see any wrong in how his officers behave and treat the members of the public, if he does not see the damage that that the so called intelligence agents are doing to the police service, then we have an intractable problem.

 
Journalists are not immune from criminal law processes. Whilst sometimes they behave like they are, we and they know they are not. But when they do their job of informing the nation – even when the information touches at the highest places in the Government, the Government is not entitled to reply by force and violation of liberties. Without such public rot, journalists will not be there, sneaking and peeing, hovering like flies, in the first place. Stop the rot.

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Far Property Company lists on BSE

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Far Property Company (FPC), owned by Choppies Group millionaires Ram Ottapathu and Farouk Ismail will list on the Botswana Stock Exchange (BSE) by May this year.
This week, Ottapathu, who is also the Choppies Chief Executive Officer (CEO), said that 80 million units, which represent 21 percent of the FPC shares, will be issued. Ottapathu and Ismail will remain major shareholders of FPC with 39.5 shares apiece.
Each share on issue will sell for 257 Thebe. FPC’s estimated market share is P977 million. The company has a portfolio of 178 properties currently of which 157 are in Botswana and 21 in South Africa.
The company was formed in 2010 and Ottapathu said that it came about from the demand for retail and industrial space in under-supplied areas. He said this had led to demand by other providers of consumer services such as banks and clothing retailers to seek accommodation for their operations primarily at places where Choppies outlets are located.
However, Choppies remains the anchor tenant with 50 percent of the property occupied by the Group.
Ottapathu said reasons for listing FPC were that opportunities existed to create a pan-African property company which will have its footprint extending to Zambia and Tanzania, and provide investors with a unique exposure to the African retail property growth market. He said it will also enhance the company’s creditworthiness, allowing it to compete with other BSE- listed property companies for acquisitions and prime property locations as well as attract additional expertise.
By the year ending June 2015, FPC’s revenue stood at P92.3 million with its earnings after tax pegged at P88 million.
Going forward, FPC’s growth strategy involves strategic acquisitions in both South Africa and Botswana. FPC will be raising P100 million from the IPO, which Ram said will be used on expansion

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Matambo’s budget

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a BNF perspective Part 1

 

When part of the country’s aggregate mass of material wealth produced in a year is determined and used to replace constant capital in the form of the wear and tear  on equipment, and the value of raw and other materials, the remainder in the form of variable capital and surplus value constitutes the national income of the country. National income under capitalism is created by workers, peasants, craftspersons and intellectuals employed in the sphere of material production – industry, agriculture, transport and so on and so forth. No national income is created in the non-productive sphere such as the government machine, the BDF, the Police, the DIS, medical institutions and universities like UB. All outlays in these non-productive sectors are covered out of national income. The government machine and armed and security forces absorb the bulk of national income and therefore restricts its growth.

 
The distribution of national income always assumes the class character of the dominant social order, in this case, the capitalist social system obtaining in Botswana. It is carried out in the interest of the exploiters rather than the workers who ironically produce it.  The main distribution of national income is between the workers and the capitalists. Workers receive wages – the product of their necessary labour time, while the different groups of  capitalists, namely bankers, land owners, merchants and industrial capitalists appropriate the surplus value – the sum total of the workers’  unpaid surplus  labour time – the source of surplus value and profit.  After distribution among workers and capitalists  then follows a secondary distribution of national income in the form of payments for various services.

 
Part of the incomes of the working class are distributed through the national budget in the interests of the bourgeois state. It is used for individual capitalist consumption and  expansion of production. The bulk of the budget is claimed by the bourgeois state for the maintenance of the armed and police forces, penal institutions, judicial bodies and the state bureaucracy at the expense of the working people. A disturbing  trend in Botswana  is the way the unproductive  military forces gobble up the lion’s share of the national income even in the absence of a war in the country. The main source of revenue for the state budget is the taxes levied on the population.

 

Another reason why the workers’ share of national income is small is that the BDP regime deliberately made Botswana a low wage economy.

 

Indeed taxes serve as an instrument of the additional exploitation of wage workers outside the confines of the productive sphere.  This diminishes the workers’ share of the national income which is further reduced by escalating prices of basic commodities, a high industrial reserve army of the unemployed (about 40%) that enables employers to drive down the wages of those in employment as well as a weak and divided trade union movement. Many workers can barely afford basic services like housing and education for their children. And yet the state turns a blind eye to companies that evade payment of taxes by keeping their money in countries known for low taxes.

 
Another reason why the workers’ share of national income is small is that the BDP regime deliberately made Botswana a low wage economy. In 1970 the state engaged a consultant by the name of Professor Dharam Ghai to ‘draft a long term wages policy consonant with  National Development’.  He recommended that the country was faced with  two options; ‘Either to have a small but relatively highly paid labour force in the modern formal sector, or a larger but lowly paid labour force’.  The country achieved neither of Dharam Ghai’s  two objectives. We have a small poorly paid workforce earning starvation wages with a huge gap between  nominal and real wages.

 
It is unclear whether workers will get any salary increase this year. The regime rubs its hands in glee as BOFEPUSO and BOPEU slug it out in the courts of law over who should sit in the Bargaining Council to decide on wage increases for the workers. On the surface it looks as if workers are the authors of their own misfortunes – quibbling over who should be on the Bargaining Council instead of getting on with the negotiations and yet we all know that these are fruits of  the regimes’  divisive tactics. They mischievously drove a wedge between the two unions. Obviously in BOPEU leadership they found acquiescent  stooges, reengages and quislings  ready and willing to betray the cause of the workers for the sake of their own personal aggrandizement. The regime prefers to announce salary increases itself in order to undermine and  undercut the influence of the trade union movement.

 
If one were to subject the budget to SafeAssign it would probably reveal 100% plagiarism. All budgets since independence are 100% plagiarized because there is no acknowledgement whatsoever of the sources used to draw them up. And yet  BDP MPs had the temerity and nerve to criticize the Leader of Opposition Duma Boko for alleged plagiarism.  It was a holier-than-thou attitude designed to score cheap debating points. Why does the BDP see the speck in Boko’s eyes, but fail to see the log in their own eyes? The BNF position has always been that for the Leader of Opposition to present an alternative budget in parliament there must be greater transparency in terms of disclosure of the sources on which the budget is based. And the opposition must be accorded enough time before the budget is presented for a meaningful debate to take place. For purposes of reducing parliament to a talking shop and a rubber-stamp institution the regime has flatly refused to accede to the demands of the opposition.

 

The richest 20% of the population commands 70% of national income while the poorest receive only 2.2% of national income.

 
Be that as it may, the national budget is an opportunity for the country to identify and  prioritize the country’s national problems, and not only propose solutions to those problems but indicate clearly the role the society is expected to play in solving them. Given that according to Professor Good the country ‘has acquired the dubious distinction of having the worst inequalities in the world’ the budget was a window of opportunity to tackle structural poverty, bridge income inequalities  and create jobs. On this score, Matambo’s budget is a dismal failure. Commenting on the way a handful of capitalists are getting away with murder for the  ecological crisis they have caused, Professor Gal Gulbrandsen in his book, Poverty in the Midst of Plenty,  notes; ‘What is intriguing about this economic process is how little it has been subjected to public debate in Botswana, despite the fact that land deterioration is a prevailing problem throughout  the country.

 

The political silence about this issue parallels  quite strikingly the non-politicized character  of  the increasing economic polarization, to which it is, of course, a corollary’. In other words, it is surprising that there are no political upheavals to protest this continuing concentration of the country’s wealth in fewer and fewer hands. The richest 20% of the population commands 70% of national income while the poorest receive only 2.2% of national income.

 
Budgetary priorities are topsy-turvy and thoroughly confused. For reasons best known to this military junta masquerading as a democracy, the BDF is given top priority in the allocation of the development budget. If a survey were to be carried out on priority problems of this country it is highly unlikely that 1% of the population would mention the BDF. The Minister deliberately omits to tell us that the massive BDF budget of P3.59 billion is accounted for by the purchase of expensive jets which are irrelevant to the defense needs of the country. While the regime splashes out on expensive military toys like jets school children in places like Baoatlaname literally faint because of hunger. The security Batswana really need is social security, security against hunger, thirst, ignorance,  poverty, disease, arbitrary power and exploitation, and not military security. That the BDF budget is always cloaked in secrecy for ‘security’ reasons is a recipe for corruption and financial malfeasance.

 
The BNF will radically review defense expenditure and reduce it significantly so that the country can enjoy the peace dividend occasioned by the advent of independence in South Africa in 1994. As far as the BNF is concerned, ‘the defense of the country can be best carried out most efficiently and less expensively by training all able bodied citizens to defend their motherland’ with a highly mobile  BDF ground force only serving as the core of the ‘Citizen Force.’ The BNF ‘will not establish  an expensive and financially unsustainable Air Force of Jet Fighters and bomber squadrons’.

 

As Jack Parson reminds us, the huge development budget on the non-productive BDF is particularly ill-advised because ‘today’s development expenditure is tomorrow’s line item in the ministerial budget’. Once an undesirable pattern of expenditure is established it becomes difficult to break down because of vested interests and the country gets locked in ‘an incrementalist net’. Hence the absolute importance of scrutinizing new items on the development budget which may drain the resources of the country through huge recurrent budgetary allocations in future.

 
From the point of view of the BNF, the economic sectors that are central to the attainment of our genuine economic independence are manufacturing industries, commerce, agriculture and tourism. All of these sectors of the economy never feature prominently in the order of priorities of the BDP regime.  The revival of  agriculture on the basis of irrigation is not only critical for food self-sufficiency, but also for the supply of raw materials to manufacturing industries,  which in turn would supply finished products to agriculture. Unless the neo-colonial structure of the economy is changed and we cease to be a monocultural raw material appendage of the global capitalist economy and create forward and backward linkages between the mining, tourism,  agricultural and manufacturing sectors the employment goals the regime set out to achieve ring hollow.

 

The development of consumer and capital goods industries would put an end to  our economic dependence on other countries. The old Japanese adage that ‘no country gets rich by selling raw materials’ is instructive. While the Minister expressed rhetorical commitment to employment creation mining companies were planning massive retrenchment of workers. The laws of this country make it far too easy for capitalists to lay-off workers. We must borrow a leaf from the Cuban experience by ensuring that during periods of involuntary separation from work, employers must be compelled by  law to continue paying workers, provide retraining of those workers and help in finding other employment for them.

 
The BNF also differs fundamentally from the BDP regime in terms of how manufacturing and agricultural  industries should be developed. As a socialist-oriented political organization the BNF believes that it is critically important for the ordinary people, the workers and peasants, to be in the forefront of wealth generation and distribution.  The BNF Social Democratic Programme asserts that the development of these key sectors of the economy must not permit the concentration of wealth in the hands of few people, be they foreign or local capitalists,  resulting in ‘a business oligarchy’  that usurps the democratic control of the nation’s wealth and resources from the working class. That is why the BNF places a high premium on  public ownership of the basic means of production through the establishment of various organically linked cooperatives and the expansion of the public sector alongside a regulated market economy under a selective industrial policy.

 
The Minister devotes a few lines to so-called ‘human capital development’ and goes on to say that ‘substantial resources will continue to be channeled towards education and training with emphasis  on ensuring that the skills and qualifications offered and acquired are more responsive to the needs of the labour market’ (page 12). As far as the BNF is concerned, as long as the BDP regime remains strongly wedded to the ideology of an elitist and  white collar-oriented curriculum this goal will remain on the backburner. Rock bottom morale is the hallmark of the civil service that is always given the run round  by a  President with a predilection for  ruling by decree, and in the words of Professor Good, ‘takes decisions by caprice’.

 

Hence the Minister’s hopes of increased productivity are no more than a forlorn cry.  The BNF calls for fundamental transformation of the education sector. In our view, education must bridge the gap between theory and practice, mental and manual labour, urban areas and the rural hinterland. Education with production (EwP) with emphasis on technological competence would produce students with relevant skills including self-employment skills.
Each school, particularly at secondary level, must as van Rensburg puts it, ‘be a powerhouse of skill and talent’  in the milieu where it is located.

 

During its heydays Swaneng Complex under van Rensburg promoted the development of the village in various ways. It gave birth to  Serowe Engineering, the first cooperative in the country (in Serowe), Tshwaragano Hotel, Mmegi newspaper, a printing and publishing facility and the Boiteko project for poverty-stricken women who were taught various skills of making earthen pots and knitting blankets. Swaneng students built their own laboratories and went on to build primary schools in Molepolole and Shashe River School during holidays, applying the skills they had acquired in their classrooms.

 

Imagine the number of jobs that would be created if all secondary schools were founded on the philosophy of education with production (EwP) with emphasis on technological competence. Each school cycle at JC and Form Five levels must be  simultaneously preparatory and autonomous i.e. it must prepare the child for the next level, but in the event that this is not possible it must serve as an autonomous unit that equips the child with self-employment skills and competences. In industries this policy translates into work-based training used by Germany to reduce youth unemployment to a bare minimum.

 
On several pages (1, 2, 3, 4, 5) the minister laments the effects of the periodic global capitalist  crisis which stems from the unplanned and anarchic nature of capitalist production. In the wake of the neo-liberal counter-revolution  these periodic crises have become more frequent and much more deeper and devastating for third world countries. In some aspects of the speech figures are rotted out as if the budget is about things and not real human beings.  Virtually all budget speeches  lament this ruinous crisis of capitalist over-production without offering any solution.

 

While there is no disputing the fact that the free trade version of the World Trade Organization (WTO) is inimical to the aspirations of most developing countries, and that its governance mechanism is undemocratic and benefits advanced capitalist countries, it is wrong to assume that WTO rules and regulations are immutable and cast in stone.  Chang and  Grable argue that WTO rules can be actively interpreted through dispute settlement panels if developing countries act collectively. Acting in concert third world countries can rewrite some of the rules and render them more amenable to interventionist trade policies. There are types of subsidies that are permissible or ‘non-actionable’ under WTO such as subsidies for basic research and development (R&D). (continues next week)

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Search for a great life

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Why settle for a good life when you can have a great life? What is the difference between a good life and a great life anyway? Why should you aim for a great life when you have good life anyway? Isn’t a good life enough? There in lies the problem because good is the enemy of great. When we have something good going on we often settle for it rather than mess with the status quo by trying to build something great. Why fix it if its not broken is the thinking behind justifying setting for less.

 
Do you ever wonder what it would be like to have an extraordinary quality of life at your current income bracket? I want to be quick to add the income bracket because often people are quick to blame their poor quality of life on their income bracket. How can I have an extraordinary quality of life if I am only making so much money? Well if you’re one of those that consistently tie the quality of your life to the amount you earn then let me be the one to bust your bubble.  Your quality of life has got nothing to do with how much you earn but everything to do with the quality of your decision-making.

 

This is not just my opinion because research shows that beyond a certain point money as an agent for a better quality of life reaches the point of diminishing returns. That from a certain point no matter how much more money you earn the quality of your life will no longer grow in direct proportion to the extra money you earn. What matters there after is the quality of your imagination.

 

If you are poor yes, a little bit of money makes a huge noticeable difference in the quality of your life.

 
If you are poor yes, a little bit of money makes a huge noticeable difference in the quality of your life, but once you enter the middle class, especially upper middle class the quality of your life now begins to depend on the quality of your decisions. It is at this point in your socio-economic status that you begin to have a discretionary income. Now that all your needs have been met, you begin to look around for things to spend money on that you believe will enhance your life experience.

 

 

The one common denominator amongst socially and economically upwardly mobile people is that as their income grows for some reason they begin to believe that they deserve bigger and better versions of the stuff they used to own. It is not that they did not have these things before or that the things they used to have no longer work. It’s just that they choose to have the more expensive stuff instead, simply because they can now afford. That is why marketers target the middleclass, because they are the most brand conscious consumers. They are more willing to pay a premium for a name than the functionality of the thing.

 
Personal finances are often a primary source of stress for most people, even though they may have reached a point of financial sufficiency they carry on with consumption until the stress caused by over consumption affects every area of their lives. Now because they are stressed they cannot sit back and enjoy life.  How can they? Besides it is almost fashionable to whine about difficulties, not to mention parading the stuff that we own. The modern human being thus resembles a peacock in many ways.

 

Having an extraordinary quality of life is not about having extraordinary things like some people would want you to believe.

 
It is this peacock like behavior that stops us from thriving, because we must have stuff to parade ever now and then we operate on survival mode. When you’re on survival mode you’re basically running on adrenaline. Which means you’re not thinking much and if you’re not thinking then there is no creativity. Remember human beings are meant to think, we are the only creatures that not only have full dominion over the earth, but can also build the world as we imagine it.

 

We are the only creatures that possess not just the ability think objectively but the faculty of imagination as well. Creative thinking is a uniquely human experience because it affords us the opportunity to express ourselves and life is nothing but self-expression. Yet because of how we live we constantly deny ourselves opportunities for creative self-expression because we are too worried about paying back debts that financed our stuff. Consumer debt sucks the life out of your because it blocks the flow of your creative juices. Tell me how creative you can be if your creditors are calling?

 
Having an extraordinary quality of life is not about having extraordinary things like some people would want you to believe. It’s about living life on your terms. It’s about living life a little bit more imaginatively. It is about exploring the true depths of life and experiencing the true joys of life. They say the best things in life are free and indeed if you look closely you will realize they are. There are those that tell us everyday that in order to have an extraordinary life we must have more stuff. But how much stuff is enough? Is there an end to it?

 
May I propose that you draw the line and decide where the stuff ends, beyond a certain point having more stuff doesn’t make you happier it means you have more stuff to look after, which consumes more of your time. This also means the more stuff you have the higher the chances are that you will end up taking more time to care for your stuff that you taking care of your relationships.

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Stop the unnecessary arrests!

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Without whistleblowers, citizens’ ability to monitor those in power is diminished, writes JOEL KONOPO. Hardly a year after the arrest of three Botswana Gazette journalists, the empire strikes again! Yet another worrying development.

 

Another careless arrest of a journalist in a country considered Africa’s shining example of democracy and good governance. This time, the Office of President onslaught on the private media happened so early into 2016. Sonny Serite, a freelance journalist muck-racking for Botswana Gazette was stopped near the Office of President by two plain cloth officers and later locked up at Gaborone Police Station under Section 317 (2) of the Penal Code of 1986, which, in theory, when read with sub section 1 carries either a death sentence or 14 years in prison. Serite, together with Abueng Sebola, a Records Officer at OP, are currently on bail after spending three days in detention. The arrest gives a clear idea of where President Ian Khama regime wishes to take this country in terms of accountability and respect of press freedom.

 
It uses scare tactics to frustrate the work of investigative journalism and sends a chilling effect to would-be deep throats at government enclave and elsewhere. It is a stark reminder that Khama’s repressive regime remains an affront to fundamental rights such as freedom of the press. But how did we get where we are? Botswana is not a firm believer in press freedom and has repeatedly used its power to promote all laws that criminalise journalism.

 

Freedom House now rates the country as partly free, a significant downgrading compared to previous rankings. President Khama government has resisted repealing or reviewing all laws that hinder the work of journalists. The ruling Botswana Democratic Party often uses its majority in parliament to block attempts to call for a law on freedom of information. Younger democracies such as South Africa have made strides in promoting media freedoms. Take example the Promotion of Access to Information Act of 2000.

 

Both Serite and Sebola stand for what INK Centre for Investigative Journalism stands for – promoting and serving democracy by revealing abuses of power, corruption and betrayal of public trust.

 
It gives effect to the constitutional right to any information held by the state and information held by the private bodies that is required for the exercise and protection of any rights. At INK CIJ, we condemn the arrest of Serite and Sebola – which comes 10 months after the detention of Botswana Gazette editor, Lawrence Seretse managing editor Shike Olsen, as well as reporter, Innocent Selatlhwa over a corruption expose – as undemocratic, unnecessary and in the long run intolerable and call for a comprehensive legislation incorporating journalists’ right to access information. With the existence of such legislation, accessing public records would not require people like Sebola to take risks that land themselves in courts. Let us be clear. We support Sebola’s thoughtful intervention, which brought new hope to investigative journalism.

 
He is an heroic whistleblower and his efforts will not go unnoticed. He was driven by public interest to expose wrongdoing at OP. Both Serite and Sebola stand for what INK Centre for Investigative Journalism stands for – promoting and serving democracy by revealing abuses of power, corruption and betrayal of public trust. Without them, citizens’ ability to monitor those in power is obviously diminished. We urge the police to investigate, and not to arrest in order to investigate. This is unhelpful and smacks of repression to arrest journalists on issues that are not really criminal but is part of their work, in this case to expose the rot in our society. A debate about journalists’ rights to access information is not best advanced by that all-pervading BDP slogan: “nothing to hide, nothing to fear.”

 
We cannot have a media that relies solely on the good will of public servants to get information, and it is too much to expect of the government and other public bodies to deliver it without the backing of an appropriate provision, which breaths life into Section 12 of the Constitution. But surely we can have an open and balanced discussion about how we accommodate the private press as a true watchdog that promotes and serves democracy, while safeguarding the intimacy and dignity rightly craved by human beings.
Konopo is Managing Editor at INK Centre for Investigative Journalism.

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Workers in limbo as salary negotiators feud

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•  Salary talks stalled as workers’ representatives tussle
•  BOFEPUSU argues that Judge Maruping erred
•  BOPEU says wage talks are not urgent

 

In its latest bid to block an application to the Appeals Court by Botswana Federation of Public Sector Unions (BOFEPUSU) to have a ruling by Industrial Court Judge President Tebogo Maruping overturned, Botswana Public Employees Union (BOPEU) has opposed the move, stating that salary negotiations issues are not urgent.
BOFEPUSU is appealing a decision in which Maruping dismissed all technical points raised by the federation and Public Service Bargaining Council (PSBC) at a previous hearing.
At the heart of the legal suit is the interpretation of Articles 6 and 7 of the Public Service Bargaining Council (PSBC) Constitution which BOPEU was seeking. Maruping had ruled in their favour.
The court had further stated that BOPEU had an interest in salary talks the matter and as such was entitled to demand as to who should sit at the bargaining council.
In his ruling Maruping had recommended mediation for the two. According to court papers filed this week, BOPEU President Andrew Motsamai argues that BOFEPUSU have not demonstrated that if the public service salary increments are made after the April 1, such will in any way cause irreparable harm to the public servants. “I aver that salary back-pays can always be made, as had been the case in other similar instances in the past,” says Motsamai.

 

The High Court ruled that it was unlawful for Khama to vary conditions of service for employees outside the laid down procedure.

He further says: “I aver that the fact that public servants are affected by the pending negotiation process does not on its own automatically render appeal urgent. The applicants still have to demonstrate exceptional circumstances and irreparable harm,” he argues.  In its application to appeal BOFEPUSU states that the judge made some glaring errors in the judgment and has taken the matter to the Appeals Court to have it overturned.
“We can’t allow the judgment to go unchallenged,” BOFEPUSU Secretary General Tobokani Rari said this week, explaining that there were many points of law and facts that were overlooked.
Whilst the two sides continue with the feuding Botswana Public Sector employees are set for another frustrating period as salary negotiations have been halted.
Ketlhalefile Motshegwa of BOFEPUSU is adamant that President Ian Khama will no repeat the mistake he made last year and declare salary increases.  Khama was last year warned and cautioned to refrain from declaring public servants’ salaries by Lobatse High Court’s Justice Michael Leburu. Leburu stated that Khama and the Directorate on Public Service Director (DPSM) have no power to decide on salary negotiations of public servants and other conditions of service.
The High Court ruled that it was unlawful for Khama to vary conditions of service for employees outside the laid down procedure – the Public Service Bargaining Council (PSBC).  The judge said that PSBC was created through an Act of Parliament and only Parliament was empowered to make laws. Leburu also found that Parliament created PSBC for a purpose; which is for negotiations of public servants salaries and conditions of service.  In a separate interview, Tobakani Rari of BOFEPUSU says government has a prerogative of increasing salaries if there is no progress at the PSBC.  “Unfortunately there is going to be a delay in salary negotiations,” Rari said.

The post Workers in limbo as salary negotiators feud appeared first on Business Weekly & Review.

We are going to punish you heavily – parks tafa

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“Completely unprovoked by us, you have openly declared warfare on us and the firm Collins Newman & Co. It is the biggest ‘mistake’ during your lifetime to attempt to destroy our firm and means of livelihood. We are going to punish you heavily, for you are evil with minds which are delusional. In this regard you should expect a letter of demand and a writ of summons for defamation to be served on you tomorrow, and/or days to follow. Make no mistake, my colleagues and me at Collins Newman & Co have worked tirelessly over the years to build a Law Firm and professional reputations beyond reproach.”
This is a copy and paste Short Message Service (SMS) that woke up The Business Weekly & Review Managing Editor Tshireletso Motlogelwa on Tuesday night sent by Collins Newman & Co Managing Partner Parks Tafa.

 
The SMS was a response to a front page story in this publication on High Court Judge Dr Zein Kebonang’s judgment, which basically found Collins Newman & Co to have deliberately “forged” a court  stamp in order to counter a default judgment.
Last week Kebonang delivered a judgment in a court case between Bank of Botswana (BoB) and the defunct Kingdom Bank. In the case, BoB represented by lawyers from Collins Newman & Co, sought to have a default judgment against it overturned and be allowed extra time to submit new papers that oppose that judgment.

 

Chairperson of Botswana Editors Forum Spencer Mogapi said as an experienced lawyer, Tafa should know the formal procedure to follow if he feels wronged.

 

In the process, according to Kebonang’s judgement, Collins Newman & Co’s lawyers among them senior partner Rizwan Desai, Senior Associate Dineo Makati-Mpho accompanied by BoB officials led by Deputy Governor Moses Pelaelo hatched an elaborate scheme to mislead, lie and present fraudulent papers to court in order to save their case against the judgement granted EBC Guernsey, one of the creditors of Kingdom Bank.
The Business Weekly & Review reported on the High Court judgment which seemingly enraged Tafa enough to send a threatening SMS to this publication’s editor in the dead of night.

 
This act has been seen in bad light by Botswana Media and Allied Workers Union (BOMAWU) President Phillimon Mmeso. He said the union totally condemned threats issued to media workers, because they are basically an intimidation aimed at gagging the press from reporting on wrongdoings. Mmeso said it was unfortunate in that intimidation like that of Tafa is used especially by those with resources at their disposal, which has become the order of the day even within government.

 
“This is the same Tafa who is a chief legal advisor to the President (Ian Khama), the ruling Botswana Democratic Party (BDP) and government at large. His actions could not be different from government’s anti-media behavior especially on exposing corruption,” Mmeso said. Chairperson of Botswana Editors Forum Spencer Mogapi said as an experienced lawyer, Tafa should know the formal procedure to follow if he feels wronged. “He could go to court and fairly address the issue and not issue threats,” he said. Mogapi said if this publication has evidence of what they have been reporting on, then the threats should be brushed aside and the newspaper continue informing the nation.

The post We are going to punish you heavily – parks tafa appeared first on Business Weekly & Review.

Go mobile phone way for effective advertising

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The economic landscape is experiencing tough financial phenomena that demands tough business decisions. Businesses are downsizing not only from a human resource capacity standpoint, but to the extent of even cutting costs on everyday supplies such as stationary.  The situation is so bad and the first department in businesses that takes a hard knock is marketing and advertising. The irony of it is that it is this particular department that could rescue business from its downward gradient in profits.
Unfortunately that is not the case for a majority of the businesses. The question now is: How can marketers do more with the very little resources they have? The answer lies in mobile smartphone applications. In comparison to other advertising media platforms such as television, print, and email, mobile applications are victorious. This is realized through using key considerations such as audience capacity, time-to-customer reach, open rate and target to likely interested parties and most importantly cost. Before we scrutinise each of these elements that make mobile application a preferred communication and advertising medium, it is important to make a quick reflection on the current trends to appreciate the relevance of the mobile phone approach.

 

The mobile phone has evolved from being a tool of voice and SMS communication to a robust device that enables more convenient trade platform.

Have you ever left your house or workplace only to realise that you have forgotten your phone? You get a feeling that you are alienated from the rest of the world and that you will not mind the redundancy of doing the trip twice when making a U-turn to collect it. That goes to show how our mobile phones have become part of us. The mobile phone has evolved from being a tool of voice and SMS communication to a robust device that enables more convenient trade platform such as banking and utilities transactions.
With the smartphone and apps boom, they have become an extension of human life. Today, your average android and apple phones have become more complex that they have more computing power that surpasses those used by NASA when it started sending astronauts to the moon 50 years ago.
From a marketing standpoint, surviving the economic rapture and doing more with little, your business needs to consider developing a smartphone application. This suggestion is not limited to large corporation and medium scale enterprises but also small businesses. The wide speculation that commissioning a mobile application developer cost an arm and a leg is a myth with I would like to dismiss. At the end of the day, a worthwhile business expense becomes an investment when the return and benefits surpass the initial cost.
With mobile apps a business can achieve a healthy 1:5 cost to returns ration, depending on the specific industry and the marketing team’s commitment.

 

The digital era is upon us and this means a more tailored customer experience at a relatively low cost in comparison to alternative communications and advertising in the media.

To use an industry specific example let us use an industry vulnerable to recession such as the food and hospitality sector. A restaurant in Gaborone can develop a mobile application with features such as GPS, plug-in, push notifications, food ordering, customer loyalty, coupons, food camera, comment board and social media as well as a tip calculator.
The restaurant could also use features such as GPS that accommodates near field communication. This is used to send push notifications on specials absolutely free to potential customers around your business vicinity. If the restaurateur really wants to be creative, they could use an application to access customers’ photos and share on social media linked with a specific campaign they are running. You could reward the person with the most popular post with meal coupons at your restaurants.
Such applications features used in this example could also be extended to the retail industry and all the other businesses that require walk-in customers.
Considering app management, back-end push notification feature allows non-technical people to manage communications with target customers directly using application such as Skipper. In terms of data analysis, there is a back-end feature that also gives the marketing team critical reports with regards to app performance incorporated with google analytics which is designed specifically for the needs of enterprise marketers. It gives better understanding of consumer behavior, getting the right insights, and then providing people with more engaging brand experiences.
The digital era is upon us and this means a more tailored customer experience at a relatively low cost in comparison to alternative communications and advertising in the media. If we could see more Botswana businesses taking the digital alternative of smartphone applications, they would be able to do more with less and endure the rapture that has paralysed marketing budgets.

The post Go mobile phone way for effective advertising appeared first on Business Weekly & Review.

Stanbic up to task in unfriendly trading environment

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Resilience has proven to be a key theme for Stanbic Bank Botswana for the financial year ended December 31, 2015, as the financial institution defies the tough banking climate and produces sound financial results for the period under review.
However, a challenging macro-economic environment – including such aspects as the slowdown in the mining sector, business closures, and challenges in electricity and water supply – culminated in constraining growth in the loan book.

 
“The prevailing low business confidence resulted in a decline in the loan book growth. This has naturally forced the bank to relook at its operational efficiencies and delivery of service to ensure that customers are sustainably delighted,” says Stanbic Bank Botswana Chief Executive Officer Leina Gabaraane.
“It is no longer about the loan size or number of customers but more about the return on assets and the quality of every transaction that the bank enters into,” he says.
The bank’s operating costs increased by 5 percent. This was primarily as the result of investment into technology and building critical staff competencies.

 
Amid all this, the bank elected to focus on operational efficiencies and service excellence; this resulted in a healthy growth of increased transactional volumes and non-interest revenue. These results reflect the exceptional transactional capabilities the bank has acquired since the implementation of the new core banking system in 2013. This system has allowed for the introduction of best-in-class digital value-added services to the market.

 

It is no longer about the loan size or number of customers but more about the return on assets and the quality of every transaction that the bank enters into.

 
The effective management of impairment was the highlight of the year, due to continued focus on rehabilitation, recoveries and revising risk appetite to align to current difficult market conditions. There were also some improvements in the quality of the loan book and securities held.
The Corporate and Investment Banking (CIB) division continues to provide a strong anchor for operations, generating growth in revenues while the Personal and Business Banking (PBB) unit emerged stronger than in the previous year. This drove the healthy growth of 18 percent in non-interest revenue. While the loan book remained flat year-on-year, there was an enhancement of the risk profile of the book which provides a positive outlook for both units.

 
The collective effort and focus on excellence resulted in the bank posting profit after tax of P132 million. Total income increased to P700 million in 2015, and return on equity increased from 11 percent in 2014 to 14 percent in 2015.
“Although the bank profits have improved, management remains concerned about the prevailing environment which demands continued prudency,” says Gabaraane.
“We remain committed to Botswana and Africa. We continue to move our staff, our customers, our communities and our nation forward. We are resolute in this focus and are pleased with the progress made thus far. We are committed to making progress, real and tangible, as we continue to fortify our customer confidence and improve their banking experience through relevant, innovative banking solutions,” concludes Gabaraane.

The post Stanbic up to task in unfriendly trading environment appeared first on Business Weekly & Review.

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