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BIHL Group expects positive results

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Botswana Insurance Holdings Limited will register a jump in profits for the year ended 31 December 2015 due to the company’s good performance during the period under review, the group said in cautionary statement.

The company said in a statement it was expecting better fortunes in 2015 as compared to 2014. “This is mainly driven by the good performance in some operating segments and positive investments,” stated the group which is listed on the domestic bourse.

“Accordingly, shareholders and investors are advised to exercise caution when trading in the company’s securities until such a time as a detailed announcement is made,” said the company.

The results will be published by 2 March 2016. The diversified financial house’s results for the year ended December 2014 showed the group’s operating profit standing at P287 million while investments in associate firms raked in P211 million in profits.

BIHL subsidiaries and associates is a broad based financial services organisation. It has the following wholly owned subsidiaries, Botswana Life Insurance Limited, Botswana Insurance Fund Management and Legal Guard.

BIHL also has investments in Letshego Holdings Limited, Funeral Services Group limited, Nico Holdings and Botswana insurance company. The company is listed on the Botswana Stock Exchange.The Botswana’s oldest insurance and asset management celebrated its 40 years of existence last year.

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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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