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Time Projects to erect new business hub in Setlhoa Park



Time Projects’ new office park in Setlhoa village in Block 10 will be the new business hub in Gaborone North with capacity to create about 100 jobs for citizens in its construction phase. The development, Pinnacle Park consists of customised 150-meter square to 600-meter square offices and showrooms that will be for sale and rental. The P150 million project is expected to commence beginning August and complete by July 2019. In an interview with the Business Trends, Time Projects Commercial Manager, Brett Marlin said they wanted to offer low rank office parks with a lot of space and landscaping similar to offices in South Africa. “We realised that there is lack of office space for people in the Northern side of the capital, so we wanted to cater for those people so they do not have to travel long distance to the Central Business District or Fairgrounds. We believe that Setlhoa is going to be the new hub in Gaborone North,” said Marlin.

He highlighted that the development would be carried out by citizen contractors. “ We are going to place an expression of interest in two weeks time and we are looking for local contractors only. We do not use South African contractors because we believe we have enough skilled citizen contractors,” said Marlin. Currently, the company has completed the design phase of the project and have started construction on the smaller Setlhoa plot with a retail park concept for the home décor and design sector. Meanwhile, two smaller extensions to existing centres are also underway with a one-shop extension at Sebele Centre and a fast food drive-through at Pilane Crossing where KFC will be opening.

In its half-year ended February 2018, Prime Time Holdings recorded 18 percent increase in rental income. However, profits declined to P12.7 million from P18.4 million in the prior period. The company stated that several significant tenants have been able to open at Pilane Crossing after obtaining their trading licences PEP, Ackermans, Clicks and Jet all opened in the first quarter of 2017. The company stated that however, it will still take some time to stabilise after its rocky start, but with the new KFC drive through due to open shortly it is looking more positive. Marlin also highlighted that they are planning to expand Pilane Mall by up to 700 square meters as the property is now fully let. “ We are working on expanding the mall in two months time,” he said.

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Matambo calls on financial sector to pick GDP



Finance Minister, kenneth Matambo

Finance Minister Kenneth Matambo has announced that government is committed to support financial service sector to prop up the country’s Gross Domestic Product (GDP).

Currently contributing over 13 percent to GDP, Matambo said the sector has potential to increase its share. “Hence government’s interest in the sector,” said Matambo addressing delegates at the inaugural Botswana Insurance Holdings Limited (BIHL), Global Financial Summit.

The country has built a strong, resilient and fast growing financial sector underpinned by a robust regulatory framework. The finance minister who is expected to step down next year, noted that government’s commitment to the financial service sector has this year been buttressed by a number of laws passed in July relating to money laundering activities.

In addition, Matambo said the continued investment in the development of information, communication and technologies (ICTs) backbone infrastructure is also to support local banks’ rising appetite for online services.

The Minister said the country remains committed to maintaining micro-economic stability to spur private sector participation in the economy. “Our vision is to become a high income country by 2036,” said Matambo, challenging the private sector to step forward and help government to develop the country, bemoaning the low levels of financial inclusion and shallow domestic capital markets.

He said the private sector should come up with more initiatives to develop further the local capital markets. The Minister’s sentiments were also shared by Martin Davies, Managing Director for Emerging Markets and Africa at Deloitte who has challenged the country to start dealing with its low manufacturing value add.

“How do we start to diversify beyond the single commodity economy,” quizzed Davies, adding that manufacturing increase is vital for low inequality across the country.

“Inequality results in bad public policy, as the state starts to believe and think they have to intervene more,” said Davies, highlighting that the country needs to move away from the absolute concept of state drive growth. Meanwhile, minister Matambo has applauded the private sector for leading economic dialogue in the country through events such as the BIHL Global Finance Summit.

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First Lady advises women entrepreneurs

Keikantse Lesemela



First lady, Neo Masisi

First Lady, Neo Masisi has urged women entrepreneurs to bring change in the economic development of the country and the rest of Africa.

Speaking during the Lioness Lean in Africa breakfast on Friday, Masisi said women entrepreneurs are remarkable engines of economic growth and job creation. “I believe women entrepreneurs hold incredible potential and credentials on the continent because Africa has the highest percentage of women entrepreneurs in the world.

It is projected that millions of much needed jobs will be created over the next decade and these will be created predominantly through small businesses which are mostly run by women,” said Masisi.She highlighted that women entrepreneurs are also the most powerful engine for equitably distributing growth and they are also solutions for addressing inequality on the continent.

“It is a proven fact that for many generations, women understand the simple concept of barter and commerce. These are the role models of our past and our present and they will continue to inspire new generations to do more for business to grow,” she said.

The Lioness Lean In Breakfast Series brings together inspirational and successful women entrepreneurs to share, inspire and connect with the next generation of great women-led start-ups.

The platform is based on a breakfast networking and speaker presentation format, which has been organized in locations across the African continent for the past year by Lionesses of Africa, empowering over one million women entrepreneurs across the continent.

Stanbic Bank Botswana Head of Personal Markets, Omphemetse Dube said they are pleased to bring the Lionesses of Africa Lean In platform to Botswana once again to bring together women entrepreneurs in the country and help to nurture their growth further.

“Botswana is blessed with a number of thriving female entrepreneurs, and the potential for the next generation of talent is strong. Platforms such as this are therefore paramount in growing the cause and we as a bank are proud to help champion that movement further,” said Dube.

Founder and CEO of Lionesses of Africa,Melanie Hawken noted that Gaborone is a growing and exciting centre for women’s entrepreneurship in Africa. “This is a must-attend event for women entrepreneurs in the country as it gives them the opportunity to hear the inspiring entrepreneurial stories of women who are building great businesses here,” she said.

The annual Lionesses of Africa event allows entrepreneurs to benefit from the insights and advice of women entrepreneurs who have seen and experienced it all and to also provide an excellent opportunity for networking.

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