Connect with us

Business

High fuel prices to push inflation

Published

on

Increased pump prices for petrol, diesel and illuminating paraffin are expected to push up inflation in the remaining months of the year. This week government announced an increase in retail pump price for petroleum due to volatility of crude oil prices prevailing on the international market.

Though annual inflation recorded a 0.1 of a percentage drop in September to 2.9 percent from 3.0 percent in August, according to the Statistics Botswana report, industry predictions have already anticipated an increase. Last adjusted in May, the hike for retail pump prices for petrol, diesel and illuminating paraffin was also attributed to the growing under recoveries since September 2017.

“This is to say, the cost of bringing petroleum products to Botswana has been higher than the regulated price, hence the need to align local pump prices to international prices,” said a statement from the Ministry of Mineral Resources, Green Technology and Energy Security.

Government further said the volatility of crude oil price is influenced by amongst others changes in supply and demand on the global market, production and refining capacities and geopolitics.

Last month, Chimweta Monga, Managing Director at Engen Botswana had said he believes the increasing international fuel prices and the need to offset the growing slate under-recovery will put pressure to adjust the fuel prices upwards resulting in increased inflation during the remainder of the year.

Statistics indicate that the slate receivable from government increased P226 million to 305 million from December 2017 to June 2018. The adjustments are 65 thebe per litre for petrol, 73 thebe per litre for diesel, 63 thebe per litre for illuminating paraffin.

Continue Reading
Comments

Business

Cell City rewards customers

Keikantse Lesemela

Published

on

Cell City gave away two Toyota Hilux pick up cars worth about P300 000 and three Hisense televion sets worth P15 000 each to their customers through their annual competition.

In partnership with Hisense and Orange Botswana, Cell City conducts annual competitions to reward their customers and contribute to citizen empowerment. Handing over the cars on Friday, Cell City Chief Executive Officer, Brian White said through the competition they want to satisfy their customers and give back to the community. “Cell City and Orange clients were given a chance to win either a Toyota Hilux pickup or a Hisense television set.

All they had to do was purchase any Hisense mobile phone from a Cell City or Orange retail outlet and fill in the competition form in the store,” said White.Thato Ntshabele, who won one of the cars told the Business Trends that she bought a Hisense cell phone worth P900. 00.

“I never expected that I can win a car. I was just filling the forms and dropped into the entry box and I forgot about it. I am so happy to receive this prize and I thank Cell City for this opportunity,” said Ntshabele. Another winner, Dimakatso Mmusi expressed his excitement saying he had always wanted a van and he is grateful to Cell City.

“I just bought a cell phone worth P899.00 at Cell City Railpark mall, I never expected anything, and I was just submitting the form as I was requested by the shop assistants. This car is very useful to me,” said Dimakatso.

Continue Reading

Business

Smecha chillie hits the shelves

Keikantse Lesemela

Published

on

For the love of food and the passion to apply modern technology processes in food manufacturing locally, Kgalaletso Mothoagae established her own brand, Smecha specializing in relishes.

She processes and packages chillie in 325 gramms and 1 litre bottles selling at P50 and P150. She told the Business Trends that she decided to process chillies as it is one of the products that are rarely processed in the food industry.

She started cooking it for home consumption and later started selling to friends and currently the product has gone beyond borders at South African Spar shops and Restaurants. “I couldn’t look for any other vegetable as most of them have already been processed in the market. It is my first product of research in the food industry so I found out that I can do good business with this product. This chillie is free from preservatives but still has extended shelf life of 6 months,” said Mothoagae

The Kanye born young lady studied food technology and has the passion to explore the food processing market in Botswana and contribute to reduce the high food import bill. “I wanted to explore more about food and use my skills to contribute to the development of the local food processing and manufacturing industry. I also wanted to supplement my income at the same time,” said Mothoagae.

She has a degree in Food Technology. She says there is a lot of potential for business growth as there is a demand for the product locally and in South Africa. “My main customers are individuals in homes, they have embraced the product, and they love the taste. There is also a market that has been secured in SA; it is available in several shops like spars and some restaurants”. In future, Mothoagae said she would increase the product range to 10 using various vegetables and flavours.

Continue Reading

Trending