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Time Projects to erect new business hub in Setlhoa Park

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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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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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