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Tsheole appointed chairman of SADC stock exchanges committee

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Chief Executive Officer (CEO) of Botswana Stock Exchange (BSE) Thapelo Tsheole has been elected Chairman of the Committee of SADC Stock Exchanges (CoSSE), a position he will assume for the next two years. Chief Executive Officer of the Malawi Stock Exchange, John Kamanga hason the other hand been elected as Deputy Chairman. The election took place at the just ended 53rd CoSSE meeting held last week in Maseru, Lesotho. Tsheole’s new role as Chairman of CoSSE would avail him an opportunity to grow and develop stock exchanges within the SADC region.

He will oversee and facilitate activities amongst the 14 stock exchanges from 13 southern African countries. CoSSE was formed in 1996 with the objective of Improving the operational, regulatory and technical underpinnings and capabilities of SADC Exchanges in order to make their securities markets more attractive to both regional and international investors.

The committee also aims to increase market liquidity and enhance trading in various securities and financial instruments, as well as encourage the development of a harmonized securities market environment within the SADC region. Some notable market development projects that CoSSE has worked on include increasing trading within members, harmonization of listings requirement to promote listings and increase the quality of the rules, collaboration with the SADC Banking Association on an initiative to develop a SADC Delivery versus Payment (Depp) settlement model which would be used for the settlement of cross-border securities.

The committee also worked on the SADC Interconnectivity Hub Project, the first phase of which was the organisation of the SADC Brokers’ Network Session in 2016. Following this session, CoSSE launched a regional portal that provides SADC exchanges and brokers with a centralized platform to encourage broker interaction with the hope of increasing cross border trades within the region. The portal facilitates the flow of information related to each SADC market.

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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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