Connect with us

Business

Debswana donates to Masiela Trust

Published

on

Masiela Trust Fund has received a major financial boost from diamond mining company Debswana towards the Trust initiatives, which are mostly aimed at improving the lives of the most vulnerable of the society.

Speaking at the handing over of the P200, 000 cheque, Debswana Managing Director, Balisi Bonyongo said his company always found it fit to helps those less fortunate. “We are all concerned and willing to do something about the plight of neglected and marginalised children in our society.” The Debswana boss informed the attendants that 2016 is the year to demonstrate commitment to the Botswana’s Vision 2016 Pillar of “A Compassionate, Just and Caring Nation” by caring for Masiela kids. 

Chairperson of the board of Masiela Trust Fund, Gulaam Abdoola who received the cheque on behalf of the Trust thanked Debswana for its contribution.

However, he lamented that the contributions they receive from companies and individuals are still insufficient to meet all the needs of the children.
The Minister of Education and Skills Development, Dr. Unity Dow who personally pledged P10 000 encouraged everyone to make any type of contribution or donation to the Masiela Trust. She said having worked in an organisation of that nature before, she knows the financial challenges and other complications that come with these organisations.

As part of the company’s CSR commitment to the needy, in 1999 Debswana donated a housing complex known as the Mpule Kwelagobe Children’s Centre in Jwaneng which started operating in the year 2000. The facility occupies a space of 25,000 square metres and comprises 210 rooms, which can accommodate approximately 420 children.

In 2009, Debswana also constructed a house at SOS Children’s village in Serowe as part of the first family houses.  Masiela Trust, a non-Government Organisation established in 2001 to complement the government in caring, supporting and protecting orphans and vulnerable children.

Continue Reading
Comments

Business

‘Manufacturing holds key to economic growth’

Published

on

Barclays bank’s economist Naledi Madala has urged the country to consider manufacturing, as a key tailwind to drive the economy and reduce inequality.

She was speaking at a gathering organised by the bank which focused on economic outlook for 2019. “We should not make a mistake of leapfrogging without manufacturing,” said Madala, lamenting that the country’s diversification remains a pipeline dream, as the diamond is still the economy’s mainstay. She bemoaned that mining activities in the country could not spring forward diversification, though non-mining GDP has been steady over the years.

“Extractive industries are not good stepping stones for diversification, the sector does not prepare us for the next step,” said Madala at the Barclays’ Economic Outlook Forum Review 2019. The economist further noted that government should confront head-on challenges of productivity and competitiveness to attract the much needed Foreign Direct Investment (FDI). Though diversification efforts continue to hit a brick wall, Madala said the country should expect increased activities in the mining sector hinged to ramp up in coal production in the year ahead.

She also implored government to consider a welcoming attitude towards foreign investors and generous tax incentives to businesses that set up in the country. Madala is also upbeat that the use of public private partnership model could also help diversify the economy coupled with privitisation. “Privitisation will offer opportunities for growth, through the renewed optimism from government, as business confidence has improved,” said Madala.

She implored the government and the business community to access what is going to drive and hinder growth highlighting that key headwinds to growth are income inequality, diversification challenge and productivity, among others. “The pace of poverty reduction has slowed down, while income inequality goes up,” said Madala

Continue Reading

Business

MINISTER BEWAILS BAD REPAYMENT BY YOUTH

Keikantse Lesemela

Published

on

Minister of Youth Empowerment, Sports and Culture Development, Tshekedi Khama has told parliament his ministry continues to face challenges on the repayment of Youth Development Fund (YDF) loans.

Recently presenting the budget to Parliament, Khama said this financial year the ministry has received a total of 2582 YDF applications and approved 983of them to the value of P98 million. He said the programme attracts a high level of interest from youth but the ministry is only limited to funding a maximum of 1200 youth projects annually due to budget limitations.

“However the greatest challenge for the Fund is the repayment of the loan component by the majority of the youth businesses. The youth have advanced number of challenges for this including high rentals for operating spaces, low market access owing to tight competition and limited production capacities,” said Tshekedi, adding that they continue to pursue beneficiaries to repay the loans.

Out of the 919 businesses funded 1058 jobs have been created. The minister highlighted that disbursements of funds will continue to be undertaken until the end of the financial year. “The YDF is currently under review in line with the pronouncement made by the President, Dr Mokgweetsi Masisi in the State of the Nation Address, to improve beneficiaries through training, and encourage consortia and cooperatives,” said Tshekedi.

The ministry assists YDF beneficiaries in marketing their products and services through fairs and exhibitions. The ministry also runs entrepreneurship-training seminars for youth and in the past year 3692 young people were trained. Over 600 youth businesses attended fairs and exhibitions to market their products and services. Currently the ministry is collaborating with Local Enterprise Authority (LEA), First National Bank Botswana and Citizen Entrepreneurial Development Agency (CEDA) on training in entrepreneurship development and mentorship of YDF beneficiaries.

Continue Reading

Trending