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Africa energy plans to delist

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African Energy Resources Limited has announced that it will delist on the Botswana Stock Exchange (BSE) next month as the administrative costs and other obligations for maintaining the BSE listing are no longer justifiable.

The copper mining company currently has only 15 shareholders holding less than 0.3 percent of Shares on the BSE and trading has been negligible. In a statement the Africa Energy Managing Director Frazer Tabeart stated that Shareholders approved the voluntary delisting of the Company from the BSE during the annual meeting in November. “There are currently only 15 shareholders holding less than 0.3 percent of Shares on the BSE and trading has been negligible.

In light of these circumstances, the Directors have formed the view that the administrative costs and related obligations associated with maintaining the BSE listing are no longer justifiable and recommend that Shareholders vote in favour of a delisting from the BSE,” reads the statement. The Company’s Shares have been listed on the venture capital board of the BSE since October 2011.

Tabeart said whilst the company continues to pursue the development of the Sese Joint Venture Coal and Power Project, the shareholders subsequently voted in favour of a delisting from the BSE at the AGM on 22 November 2017. “African Energy is therefore offering Shareholders the opportunity to sell their Shares through the BSE Share Buyback following shareholder approval for delisting of the Shares from the BSE,” The delisting is expected to be completed on or about 16 February 2018 at which time shareholdings that remain on the BSE register will be transferred to the ASX Register.

Affected shareholders are advised to contact Corpserve Botswana to assist with any queries or instructions in relation to the delisting. Following the delisting, queries or instructions should be directed to the Company or to the ASX share registrar, Link Market Services.

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ADB grants BDC P4m for capacity building

Koobonye Ramokopelwa

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BDC head of human capital, Thabile Moipolai

African Development Bank has granted Botswana Development Corporation (BDC) over P4 million for training and capacity building of its staff members, the latter’s Managing Director, Bashi Gaetsaloe has disclosed.

The grant, which is $400,000 could not have come at a better time for BDC which has just begun a foray into the African continent. According to the Head of Human Capital at the investment arm of government, Thabile Moipolai, the grant will be used in areas such as investment, legal and risk, the three divisions which are considered critical as they continue to push the five -year strategy.

BDC has been given the leeway to invest outside Botswana and already some investments are being made in West Africa. Capacitating the staff in the above areas will come in handy for the African expansion.

Moipolai was answering a question from The Midweek Sun on Friday during the company’s annual stakeholder briefing where operational and financial reports for 2017/2018 were made public. The grant will be utilised in the next two years. BDC has reiterated its plan to continue to invest initiatives which are aimed at developing and retaining staff members.

“As we continue to build a strong BDC for the future, continuous learning and development is critical for our business success and therefore remains a priority area for Human Capital,” BDC 2017 annual report reads.

BDC has also developed a future focused competency based training that will be used to make informed learning and development decisions. “The (BDC) academy will also help BDC produce future leaders that are fluid and progressive through a bespoke leadership development,” reads the report.

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KBL announces return of Kickstart program

Koobonye Ramokopelwa

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Previous kickstart beneficiaries

Kgalagadi Breweries Limited, a unit of Sechaba has announced the return of Kickstart, a youth entrepreneurial development program that was suspended three years due to lack of financial resources, Managing Director, Renaud Beauchamp has told the media.

Before the program was put on ice, it had benefited over 70 small medium enterprises with funding, mentoring and market access assistance. According to Beauchamp, the revamped Kickstart will start next year, with an annual budget of about P1, 5 million. “We plan to invest in 15 new businesses every year,” he said at a press briefing which also announced a price reduction for its alcohol brands such as St Louis, Castel Lite and Black Label.

Successful applicants will receive about P200, 000 grants to execute their business ideas. Beauchamp stated that, they have been able to reintroduce Kickstart from ‘freed capital’ as a result of the recent reduction in Alcohol Levy from 55 percent to 35 percent. The clear beer price reduction comes after the Alcohol Levy, which made beer expensive, was slashed by President Mokgweetsi Masisi regime some few months ago.

Meanwhile, Assistant Minister of Trade, Industry and Investment has announced changes in trading hours for businesses that trade with liquor.

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