Barclays bank’s economist Naledi Madala has urged the country to consider manufacturing, as a key tailwind to drive the economy and reduce inequality.
She was speaking at a gathering organised by the bank which focused on economic outlook for 2019. “We should not make a mistake of leapfrogging without manufacturing,” said Madala, lamenting that the country’s diversification remains a pipeline dream, as the diamond is still the economy’s mainstay. She bemoaned that mining activities in the country could not spring forward diversification, though non-mining GDP has been steady over the years.
“Extractive industries are not good stepping stones for diversification, the sector does not prepare us for the next step,” said Madala at the Barclays’ Economic Outlook Forum Review 2019. The economist further noted that government should confront head-on challenges of productivity and competitiveness to attract the much needed Foreign Direct Investment (FDI). Though diversification efforts continue to hit a brick wall, Madala said the country should expect increased activities in the mining sector hinged to ramp up in coal production in the year ahead.
She also implored government to consider a welcoming attitude towards foreign investors and generous tax incentives to businesses that set up in the country. Madala is also upbeat that the use of public private partnership model could also help diversify the economy coupled with privitisation. “Privitisation will offer opportunities for growth, through the renewed optimism from government, as business confidence has improved,” said Madala.
She implored the government and the business community to access what is going to drive and hinder growth highlighting that key headwinds to growth are income inequality, diversification challenge and productivity, among others. “The pace of poverty reduction has slowed down, while income inequality goes up,” said Madala
6 Best Forex Trading Platforms for Botswana Traders
A trading platform is software which is designed to be used for trading purposes. Whether it is the opening, closing, and managing market positions through a broker, which facilitates trades and connects Batswana traders to global markets.
For Batswana traders to get the most and best out of their trading, it is imperative to ensure that traders choose and use a trading platform which will provide the best, most dynamic trading experience and environment.
This is a proprietary and innovative trading platform developed by AvaTrade, one of the most popular Forex brokers in the industry.
With this trading platform, Batswana traders are provided with complete control over their portfolio. Traders have access to more than 40 Forex pairs and a variety of strategies, spreads, risk reversals, and more.
2. MetaTrader 4
MetaTrader 4 is one of the most used and popular trading platforms in the industry and offers the trade of Forex amidst other financial instruments.
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3. MetaTrader 5
MetaTrader 5, an upgrade from MetaTrader 4, is an institutional, multi-asset and multi-functional trading platform.
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cTrader is a powerful desktop application which provides Batswana traders with a dynamic, and unique approach towards charting, manual and automatic/algorithmic trading.
cTrader has a user-friendly interface with a community featuring 1000s of indicators, trading robots, and documented educational material in addition to cloud data, 24/7 support, a hi-tech design, and Full STP trading, amidst numerous other functions.
Thinkorswim is an innovation of TD Ameritrade which was launched in 2009 and has gained a substantial amount of popularity in recent years.
The trading platform offers traders with access to multiple assets including Forex, options, futures, ETFs, and stocks.
It is a desktop-based platform which offers free research, screening tools, real-time data, and numerous features including access to more than 400 technical studies, 8 Fibonacci tools, the ability to analyse option volumes, strategy back testing capabilities, and more.
ZuluTrade is one of the most popular social trading platforms in the industry which is designed for use by all types of traders, from beginners to professionals.
It allows for customization, back testing of strategies, margin call metres, and more. It is one of the most trusted social trading platforms by both brokers and traders alike.
It is imperative that Batswana traders get the best from their trading, and to ensure that they are able to refine and improve their trading strategies, trading styles, and other aspects of trading.
It is therefore necessary that Batswana traders make use of the best broker suited for their needs in addition to a top-quality trading platform.
Gov’t swiftly acts on BMC
Government has moved swiftly to place Botswana Meat Commission under the care of a management firm; the move is meant to put the Commission into shape both operationally and financially.
This was disclosed by Finance and Economic Development Minister, Dr Thapelo Matsheka, further stating the BMC is technically insolvent despite having received nearly P1billion as a bailout in recent times. The new management company will run BMC, which is based in Lobatse starting on the 2020/2021 financial year.
The finance minister made it crystal clear that, the move to appoint a caretaker firm for BMC was made to protect the interests of all stakeholders, including farmers. According to Matsheka, the Minister of Agriculture Development and Food Security, Dr Edwin Dikoloti will provide more details on the BMC changes in due course during his committee of supply speech. Government is also proceeding with the conversion of BMC to a company under the Companies Act following the approval of BMC Transition Bill and subsequent repeal of the old Act.
The repealing of the BMC Act has since eliminated the monopoly of the Commission when it comes to beef and cattle export. The repeal has also enabled government to establish a beef regulator which will be responsible for regulating the beef and the cattle sector. “Another aspect of the transition is the ultimate privatization of BMC.
The objective of the privatization of BMC is, among others, to engage the private sector in the ownership and management of the BMC to achieve operational efficiency and profitability, as well as reduce Government’s future financial commitments in the entity. This would be an important process in the transformation of the beef and cattle sector,” noted Matsheka. BMC which is 100 percent owned by government has been operating with losses for many years due to internal and external challenges such as poor supply and Foot and Mouth Disease(FMD).