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Cupcakeville, your cupcake home

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Gorata Chimoli’s confectionary business, Cupcakeville, started as a hobby, when she would bake cupcakes at home and then share them with neighbours. One day she was home alone and baked 12 cupcakes and only ate four of them. “I put the rest in a container and took them to give my neighbours because I was afraid my mother was going to scold me because I had had a tooth surgery at the time”.

When the neighbours saw her coming with a big container, they then offered to buy at P2 each and they took all of them. She then went to buy another cake mix and baked again in the absence of her mother. With the money she made, she continued baking and selling to raise pocket money for herself.

She then followed baking tips on the Internet and started experimenting with various recipes and then learnt how to bake cakes. Chimoli, who is a University of Botswana (UB) graduate, then negotiated to supply the UB Coffee shop with 48 cupcakes per day and one cake. She continued marketing her products through social media and began to have orders from individuals.

Her prices vary according to individual preferences but the custom orders are standard at P7 cupcake with regular frosting and P150 for 20cm cake. Today, Chimoli is a successful entrepreneur in bakery and the Managing Director of Cupcakeville, which she registered in 2015. The business is currently operating from home in Phase 4. On average she can make around P12 000 per week depending on the orders.

She said she gets a lot of orders towards the end of the year as many people will be hosting parties and weddings. To expand her business, Chimolli wants to go to a proper culinary school to improve her baking skills. She recently went for a baking course in Pretoria for one week. She said the market competition is tough-so with more skills she can penetrate the market. “I tried to apply for the Youth Development Fund but they did not help me as they said they did not understand my business concept. So I am using my resources to build my skills to grow the business,” she said.

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Business

BSE upgrades online investor access

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A recent BSE opening bell function.

Botswana Stock Exchange Limited (BSEL) will this year introduce a new clearing and settlement system, as part of efforts to improve operations of the bourse.

Speaking at the seventh opening bell ceremony, Chief Executive Officer, Thapelo Tsheole said the development will help improve liquidity and risk management. In addition, the new settlement system replaces the 2008 system while fast tracking introduction of security borrowing and lending, management settlement guarantee fund, as well as identifiers for companies and instrument.

BSEL has already awarded a contract to a Swedish company to implement the system which is also expected to digitalize Initial Public Offering (IPO), allow electronic voting for listed companies during annual general meetings (AGM) for absent shareholders.

The project, which is expected to take eight months once the two parties sign the deal, is part of efforts to have more online investors access for BSEL. Tsheole also revealed that BSEL website will undergo a revamp this year, allowing it to be more analytic, live feed shares, as they trade.“The tender is already out for the website and mobile application. It is a project that we had hoped to implement last year but because of logistic problems, we could not do it,” said Tsheole.

BSEL further plans to introduce two data display screens at CBD and at the stock exchange.“These will assist with information sharing and keep the market updated,” said Tsheole. Meanwhile, BSEL will not change its Automated Trading System (ATS) until 2022, according to Tsheole.“The system supports our strategy to grow the market and increase the average daily turnover levels to 18.0million per day by 2021,” said Tsheole.

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BSE complies with reporting guidelines

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Botswana Stock Exchange Limited (BSEL) has become the 5th bourse in Africa to comply and publish Environment, Social and Governance (ESG) reporting guidelines.

The development comes a year after BSEL became a partner exchange of the United Nations Sustainable Stock Exchange (SSE) Initiative.“The BSE made a commitment to publish guidance on ESG Reporting. This commitment has been fulfilled.“

We are the 42nd among the 81 SSE Partner Exchanges globally and the 5th in Africa to do this,” said Kgotla Segwe, Market Development Specialist at Botswana Stock Exchange Limited.
Other stock exchanges that have complied with the SSE initiative on the continent are from South Africa, Nigeria, Morocco and Egypt.

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