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BAMB realises growth in operational sales



Botswana Agricultural Marketing Board (BAMB) recorded total operational sales of P267, 7 million in the financial year 2014/15.

Indicated in its recently released 2014/15 financial report, this is a 34.7 percent growth from the previous operational sales of P198, 7 million. BAMB, which derives its revenue from sale of goods and management fees for the strategic grain reserve, saw its total revenue for the year grow from P209, 8 million to P278, 6million for the reporting period.

The marketing board led by Edison Wotho, who is former Permanent Secretary in the agriculture ministry, purchased a total of 34,104metric tonnes of grain in the immediate past harvesting season. Pulses increased by 2000 metric tonnes from the previous year, while there was a significant drop in sorghum and maize purchases as a result of drought.

“This year for the first time, pulses became the major contributor for the year at 21 percent followed by sorghum at 19 percent. Sorghum has been relegated to second place as a result of low purchases from millers. During the reporting period a lot of Millers closed shop due to financial constraints,” reads the report. Sorghum relegated from 70.7 percent in 2013/14, whilst pulses saw a hike from 5.44 percent in 2013/14 reporting period.

Sunflower constituted to 15 percent whilst maize was trailing at the bottom at 10 percent in 2014/15. The major reason for lower purchases of sorghum during this reporting period was that a lot of millers closed shop due to financial constraints, says the report. Agricultural inputs contributed only 35 percent to total sales during the reporting period.

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Minister Thapelo Olopeng

Botswana Stock Exchange’s annual finance and investment competition for secondary school students has been applauded by the Minister of Tertiary Education, Research, Science and Technology, Thapelo Olopeng.

The initiative, a capital market awareness tool that has been running for the past seven years, is increasing financial literacy and a culture of investment among young people. The initiative will see the country raise future billionaires through the stock markets. “It is a breath of fresh air to have tertiary students who are financially literate, who can manage their finances,” said the minister.

He urged students to invest even the smallest allowances they earn and have a hassle-free life after university. “Investing on the stock exchange is not only preserved for the rich, but for anyone with a bank account,” said Olopeng.

The minister said the secondary schools finance and investment competition is participation of the private sector in bridging the knowledge divide.Olopeng said the private sector participation augments his ministry’s efforts of providing and building knowledge and innovation through the development and implementation of the policy on tertiary education, research, science and technology to transform the economy from a resource based to a knowledge based.

“In this connection, we will continue to empower our students in order for them to lead better and successful lives which can propel them into the innovation ecosystem,” said Olopeng. BSE Chief Executive Officer, Thapelo Tsheole said the Senior Secondary Schools Finance and Investment Competition, first established in 2013 aims to sensitise and educate the student community about capital markets, with the strategic aim to increase financial literacy and promote a culture of investing at a young age.

The competition is open to all senior secondary schools across the country, including private and public senior secondary schools.

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The MidweekSun Admin



Orapa Mine, part of Debswana

Botswana is not using diamonds to kill elephants as alleged by some conservationists after the southern African country announced plans to lift a ban on elephant hunting to address growing conflict between humans and wildlife, a government official has said.

Minister of mineral resources, Green technology and energy security Eric Molale told a mining conference in Gaborone on Monday that the activists were tarnishing the image of Botswana. “That’s hogwash because we as Botswana are [good] conservationists and it is us who worked hard to make sure these elephants [are] brought to the numbers that we do have now,” he said.

“When conflicts arise, it is through consultation, [that we] find out how we can best manage our resources. The people have spoken and we are going to be managing the elephants in the best way that we can.

“We are not culling, we have re-introduced the trophy hunting and if you take 400 elephants per annum for trophy hunting against the 3-5% annual growth rate of the elephant herd that we have…[we are] just barely scratching on the surface.”

Botswana has about 130 000 elephants, the world’s largest population.Molale said Botswana will remain focused on things that are beneficial to the country and will not be distracted by issues spread by people that are not even privy to how things are done in the country.

“We have, however, invited them to come and learn more about what we are doing so they can better understand those important aspects of flora and fauna…”The conflict between humans and elephants had gone up since the ban was introduced in 2014.

Tourism is the second source of foreign income in Botswana after diamonds and conservationists fear that the former will be affected is the government cull elephant.
[Rough and Polished]

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