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BDC offloads Kwalape shares



Botswana Development Corporation (BDC) this week disclosed it has transferred its 40 percent shareholding and facility interest in Kwalape Tours and Safaris to a citizen-owned company, Dekete Guys Limited.

The transaction was concluded at a hand-over ceremony on the 13th August 2018 at Kwalape Safari Lodge in Kasane. According to BDC, which is a government’s investment unit, the transfer is part of its broad strategy to divest from mature industries and sectors that had demonstrated adequate private sector capacity. The Corporation has approved an offer for its interest in Kwalape, which are the purchasing of both ordinary and preference shareholding and credit facilities.

BDC Managing Director, Bashi Gaetsaloe is thrilled on the latest developments. “We are pleased to see Kwalape having attained a mature business status as evidenced by its ability to self-sustain in a tough and competitive tourism sector. On the back of our robust corporate governance processes, we ensured all checks-and-balances were followed as well as reviewing prospective investors inorder to appoint the right operation to take-up our shareholding,” said Gaetsaloe. “We believe the profile and projections of this investor would sustain the business continuity and open new doors for Kwalape’s growth in the long term. We are confident in Dekete’s vision for the business”.

In 2007, BDC entered into a partnership with the company, subscribing to 40 percent, while the founders remained with a majority 60 percent shareholding. Kwalape, trading as Kwalape Safari Lodge, is located along the Kazungula-Kasane Road, Kasane in the Chobe District, the tourism hub of Botswana. The resort offers an extensive bouquet of tourism activities such as boat cruises on the Chobe river, safaris and game drives in the Chobe National Park and tours of the tourist attractions in the region such as Victoria Falls and Livingstone Memorial through strategic partnerships.

Kwalape was established in 1999. “I believe that partnering with giants such as BDC helps one grow in that they push you to pursue for much bigger and better than what many of us as start-up entrepreneurs could think possible. I appreciate the relationship we have built with BDC over the years and look forward to Kwalape’s next chapter with Dekete Guys,” said Kwalape Tours and Safaris Managing Partner, Milton Khachana.

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Matambo calls on financial sector to pick GDP



Finance Minister, kenneth Matambo

Finance Minister Kenneth Matambo has announced that government is committed to support financial service sector to prop up the country’s Gross Domestic Product (GDP).

Currently contributing over 13 percent to GDP, Matambo said the sector has potential to increase its share. “Hence government’s interest in the sector,” said Matambo addressing delegates at the inaugural Botswana Insurance Holdings Limited (BIHL), Global Financial Summit.

The country has built a strong, resilient and fast growing financial sector underpinned by a robust regulatory framework. The finance minister who is expected to step down next year, noted that government’s commitment to the financial service sector has this year been buttressed by a number of laws passed in July relating to money laundering activities.

In addition, Matambo said the continued investment in the development of information, communication and technologies (ICTs) backbone infrastructure is also to support local banks’ rising appetite for online services.

The Minister said the country remains committed to maintaining micro-economic stability to spur private sector participation in the economy. “Our vision is to become a high income country by 2036,” said Matambo, challenging the private sector to step forward and help government to develop the country, bemoaning the low levels of financial inclusion and shallow domestic capital markets.

He said the private sector should come up with more initiatives to develop further the local capital markets. The Minister’s sentiments were also shared by Martin Davies, Managing Director for Emerging Markets and Africa at Deloitte who has challenged the country to start dealing with its low manufacturing value add.

“How do we start to diversify beyond the single commodity economy,” quizzed Davies, adding that manufacturing increase is vital for low inequality across the country.

“Inequality results in bad public policy, as the state starts to believe and think they have to intervene more,” said Davies, highlighting that the country needs to move away from the absolute concept of state drive growth. Meanwhile, minister Matambo has applauded the private sector for leading economic dialogue in the country through events such as the BIHL Global Finance Summit.

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First Lady advises women entrepreneurs

Keikantse Lesemela



First lady, Neo Masisi

First Lady, Neo Masisi has urged women entrepreneurs to bring change in the economic development of the country and the rest of Africa.

Speaking during the Lioness Lean in Africa breakfast on Friday, Masisi said women entrepreneurs are remarkable engines of economic growth and job creation. “I believe women entrepreneurs hold incredible potential and credentials on the continent because Africa has the highest percentage of women entrepreneurs in the world.

It is projected that millions of much needed jobs will be created over the next decade and these will be created predominantly through small businesses which are mostly run by women,” said Masisi.She highlighted that women entrepreneurs are also the most powerful engine for equitably distributing growth and they are also solutions for addressing inequality on the continent.

“It is a proven fact that for many generations, women understand the simple concept of barter and commerce. These are the role models of our past and our present and they will continue to inspire new generations to do more for business to grow,” she said.

The Lioness Lean In Breakfast Series brings together inspirational and successful women entrepreneurs to share, inspire and connect with the next generation of great women-led start-ups.

The platform is based on a breakfast networking and speaker presentation format, which has been organized in locations across the African continent for the past year by Lionesses of Africa, empowering over one million women entrepreneurs across the continent.

Stanbic Bank Botswana Head of Personal Markets, Omphemetse Dube said they are pleased to bring the Lionesses of Africa Lean In platform to Botswana once again to bring together women entrepreneurs in the country and help to nurture their growth further.

“Botswana is blessed with a number of thriving female entrepreneurs, and the potential for the next generation of talent is strong. Platforms such as this are therefore paramount in growing the cause and we as a bank are proud to help champion that movement further,” said Dube.

Founder and CEO of Lionesses of Africa,Melanie Hawken noted that Gaborone is a growing and exciting centre for women’s entrepreneurship in Africa. “This is a must-attend event for women entrepreneurs in the country as it gives them the opportunity to hear the inspiring entrepreneurial stories of women who are building great businesses here,” she said.

The annual Lionesses of Africa event allows entrepreneurs to benefit from the insights and advice of women entrepreneurs who have seen and experienced it all and to also provide an excellent opportunity for networking.

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