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Financial education should start from childhood

Keletso Thobega

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Teaching children about the value of money and importance of healthy financial management would improve their quality of life, says business consultant Vusi Jamal.

He spoke to The Midweek Sun following the launch of his book ‘The Making of A Teen Entrepreneur,’ which he wrote with entrepreneur Moemedi Senwelo. Jamal noted that lessons and values instilled in children stuck with them for the rest of their lives. He and Senwelo decided to write the book after being booked to present on financial management to children. “There was no reference material for Botswana. Most of the books are from outside. We decided to write this book with case studies that are relevant to the Botswana society,” he said.

Several statistics conducted by government and financial institutions have indicated that a great number of Batswana are swimming in debt and are a meal away from poverty. Jamal said that some people were preoccupied with instant gratification as opposed to investing in long-term wealth and success. “We are a materialistic society and those things are okay if you can afford them but sometimes you have to think and wonder how something will add value to your life.

“If you value it that much then invest time into creating the abundance.” He said many people did not save for a rainy day as they generally did not plan for their future as they are focused on the now.Jamal said lack of financial education was one the reason that many people went “crazy” when they get money and overspend and even wind up in never ending debts that they struggle to pay off.

“For example, some young people get funded for business projects but instead of investing in the venture they go on spending sprees. Even at tertiary institutions you find that young people spend their allowance on alcohol and clothes instead of saving. “We need to teach young people to avoid being myopic and prioritise important things that will benefit them in the long-term.”

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BMC secures beef market in Seychelles

Dikarabo Ramadubu

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Botswana Meat Commission (BMC) will soon start to sell its beef to the Island of Seychelles. Not only will they sell frozen raw meat, but will also send corned beef for trial in the Island.

All this is thanks to last week’s visit by President Mokgweetsi Masisi who included in his delegation executive management of the BMC, led by Chief Executive Officer, Dr Akolang Tombale.
The agreement signed between BMC and two leading Seychelles companies, will see BMC exporting at least 48 tonnes of raw beef to the island possibly from October. The names of the two companies that BMC signed an agreement with are Seychelles Trading Company which is a quasi-government organisation, and Rosebelle Company which is privately owned.

Although both have agreed to trade with each other, BMC cannot start immediately, as they have to wait for the green light from Seychelles companies who still have to apply for import permits in accordance with the law of their republic.

Speaking to The Midweek Sun, Tombale expressed gratitude that they managed to get good business in Seychelles through the assistance of President Masisi. “We are ready to export any time from now. As you know Seychelles is an island surrounded by mountains and cannot produce much if not anything. “They therefore depend much on imports even from as far as Brazil and Europe. Their economy is driven by tourism and they do not differ much with the European market in terms of the demand for beef as most tourists come from Europe and United States.”

Dr. Tombale said they agreed with the two companies that since “we are not sure about the logistics we will start by selling 24tonnes to each company per month, meaning we will be supplying the Island with a total of 48 tonnes per month. The idea is to start small and grow bigger as the people get used to our beef.” BMC has also negotiated to sell small stock meat to Seychelles and successfully negotiated for local chicken farmers to start selling their range chicken to Seychelles as well.

According to Tombale, he negotiated the deal after being approached by local chicken farmers amongst them Kgosi Mosadi Seboko of Balete, who requested that “we should try to find a market for chicken farmers as we go around the world searching for the beef market.” Tombale revealed that for a start both range chickens and small stock will not be supplied in tonnes or large quantities as they will be sold on a trial basis.

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G-west community reunion-walk a resounding success

Keletso Thobega

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Multitudes turned up for the Mosengwaketsi community walk and braai session this past Saturday in Gaborone West. The walk was held in the morning and was preceded by football games and a braai session that went on until late in the evening.

According to the event director Tshenolo Palai, the aim of the community day event was to revive community spirit and address crime and social ills. “The Mosengwaketsi community reunion will be held not only to create a platform to build unity but also address the social ill of passion killings,” he said.

Palai said that they had also invited health stakeholders for a wellness segment because they had realised that there are many health related conditions that affect the quality of people’s lives hence they had joined forces with religious organisations, the business community, neighbourhood outreach policing and other stakeholders in the area to encourage a culture of unity and create dialogue between all the parties.

He noted that they had wanted to create a relaxed environment conducive for different people to engage and strengthen their networks. He said they were also concerned with the high rate of crimes of passion in Botswana and also wanted to create a platform for both men and women to open up on issues that affect them because most people tend to be more relaxed in a social setting.

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