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Barclays hosts retailers market day

Keikantse Lesemela



Choppies is arguably the biggest retail store in the country

Barclays Bank Botswana has this year organized the retailers market day event to enable consumers to interact with local retailers and wholesalers.

According to Barclays Bank Botswana Head of Local Corporates, Kagiso Moloi said, the platforms offer the retailers an opportunity to showcase their products to existing and prospective customers.

“In Botswana there is no opportunity for retailers to showcase their products and through this exhibition we have partnered with local retailers to showcase their products and interact with consumers,” said Moloi.Major retailers including Sefalana, Fours, Choppies, Trade World and other supermarkets, gathered under one roof to sell and promote their products.

Moloi explained to this publication that as a bank they have observed a trend in which Batswana spend a lot of money buying groceries in bulk by the end of the year.The bank has therefore come up with tailor made solutions for their customers.

As the year ends, most Batswana will flood local supermarkets and wholesalers to buy groceries through Motshelo, an informal group savings scheme. “Consumers bank with us through our Motshelo account and the retailors also bank with us so we want all our customers to benefit from our services”, he said.

Motshelo group savers account requires P500 opening deposit, a minimum of three members, Omang or passports of two signatories, proof of residence and names as well as a confirmation by members of the club. In return, the members receive free P2, 000 accidental cover for 10 members, a cheque book, monthly statements, SMS alert.

The product enables Batswana to shift from informal and risky methods of saving money. Moloi pointed out that Barclays Retailers Market Day will be an annual event and will include local manufacturers and suppliers next year.

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Minister Thapelo Olopeng

Botswana Stock Exchange’s annual finance and investment competition for secondary school students has been applauded by the Minister of Tertiary Education, Research, Science and Technology, Thapelo Olopeng.

The initiative, a capital market awareness tool that has been running for the past seven years, is increasing financial literacy and a culture of investment among young people. The initiative will see the country raise future billionaires through the stock markets. “It is a breath of fresh air to have tertiary students who are financially literate, who can manage their finances,” said the minister.

He urged students to invest even the smallest allowances they earn and have a hassle-free life after university. “Investing on the stock exchange is not only preserved for the rich, but for anyone with a bank account,” said Olopeng.

The minister said the secondary schools finance and investment competition is participation of the private sector in bridging the knowledge divide.Olopeng said the private sector participation augments his ministry’s efforts of providing and building knowledge and innovation through the development and implementation of the policy on tertiary education, research, science and technology to transform the economy from a resource based to a knowledge based.

“In this connection, we will continue to empower our students in order for them to lead better and successful lives which can propel them into the innovation ecosystem,” said Olopeng. BSE Chief Executive Officer, Thapelo Tsheole said the Senior Secondary Schools Finance and Investment Competition, first established in 2013 aims to sensitise and educate the student community about capital markets, with the strategic aim to increase financial literacy and promote a culture of investing at a young age.

The competition is open to all senior secondary schools across the country, including private and public senior secondary schools.

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The MidweekSun Admin



Orapa Mine, part of Debswana

Botswana is not using diamonds to kill elephants as alleged by some conservationists after the southern African country announced plans to lift a ban on elephant hunting to address growing conflict between humans and wildlife, a government official has said.

Minister of mineral resources, Green technology and energy security Eric Molale told a mining conference in Gaborone on Monday that the activists were tarnishing the image of Botswana. “That’s hogwash because we as Botswana are [good] conservationists and it is us who worked hard to make sure these elephants [are] brought to the numbers that we do have now,” he said.

“When conflicts arise, it is through consultation, [that we] find out how we can best manage our resources. The people have spoken and we are going to be managing the elephants in the best way that we can.

“We are not culling, we have re-introduced the trophy hunting and if you take 400 elephants per annum for trophy hunting against the 3-5% annual growth rate of the elephant herd that we have…[we are] just barely scratching on the surface.”

Botswana has about 130 000 elephants, the world’s largest population.Molale said Botswana will remain focused on things that are beneficial to the country and will not be distracted by issues spread by people that are not even privy to how things are done in the country.

“We have, however, invited them to come and learn more about what we are doing so they can better understand those important aspects of flora and fauna…”The conflict between humans and elephants had gone up since the ban was introduced in 2014.

Tourism is the second source of foreign income in Botswana after diamonds and conservationists fear that the former will be affected is the government cull elephant.
[Rough and Polished]

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