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Frequently asked questions on the BTCL IPO



What is an IPO?
An Initial Public Offering, or IPO, is the first offer by a company of its shares for sale or subscription by members of the public.  The Government is selling 49 percent of its shares in BTCL through an IPO.

Does this IPO mean BTCL is being sold?
Yes; however, Government is only offering 49 percent of the shares of the company, of which 5 percent has been reserved for BTCL employees. The remaining 51 percent of the shares will be retained by government.

What percentage of BTCL will be put on the market?
49 percent of the shares of BTCL will be offered to the public. Of this, 5 percent will be offered to citizen employees of BTCL. The remaining 51 percent of the shares will be retained by Government.

How many shares are being offered?
The Offer comprises 462,000,000 Shares of which 250,000,000 are to be issued and allotted by the Company and 212,010,000 Shares to be sold by the Selling Shareholder. Simply put, 462,000,000 Shares of BTCL are offered to the public through this IPO
How will the IPO process ensure that small investors’ interests are safeguarded?

A share allotment strategy is in place to ensure that all citizens are given equal opportunity to buy BTCL shares. Essentially all offers are treated as equal. However, smaller investors will be given preference to ensure that all their offers are accepted in the event there is an oversubscription. This means, in the event of an oversubscription, you are not guaranteed to be allocated all shares you apply for.

What happens if there are more Offers than shares on offer?
This situation would be called an oversubscription. The Allotment Committee would then sit and decide how to ensure as wide a spread as possible is achieved of shares allocated. In an oversubscription situation one may not receive the total number of shares they applied for. The funds would be returned to the investor for the shares they did not get.

What is an IPO Opening/Offer Opening?
The opening of the IPO or the Offer refers to the start date for the period in which parties interested in purchasing shares can apply for them. Applications for the shares can be made throughout the stipulated period in which they will be on offer. The Offer Period is from 09h00 on 11th January 2016 to 17h00 on 4th March 2016. Offers WILL NOT be received after this date.

When will the BTCL IPO open?
The BTCL IPO offer period, the period in which parties interested in purchasing shares can submit applications for them, is from 11 January 2016 at 09h00 to 04 March 2016 at 17h00. During this period, completed BTCL IPO application forms, proof of Botswana citizenship, and payment of shares will be accepted by the receiving bank, Barclays Bank of Botswana. Offers WILL NOT be received before or after these dates.

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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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