Connect with us

Business

Puma Filling station gives away 16-seater Kombi

Published

on

In its strategy to promote entrepreneurship among Batswana, Puma Energy, Railpark Filling Station which is a franchise owned by a citizen, gave away 16 seater kombi to the ‘Fill Up and Win Promotion’ winner on Friday.

The 16-seater quantum presented with it, a business opportunity as it came with a public transport permit. The competition was open to all, and customers only had to fuel with P100 or more to be eligible for the competition. Handing over the kombi, Puma Energy, Rail Park Site Manager, Yusuf Ismail said the competition was a success because the kombi given away will translate into a business opportunity.

He said they initiated the strategy to empower Batswana and give them an opportunity to venture into business.“We like to instil the spirit of entrepreneurship among Batswana through initiatives like this. Through this we are also giving back to the community,” said Ismail.Receiving the kombi, Gopolang Mosikari said he is going to use it to go into transport business.

“I have always wanted to venture into transport business but I did not have finances and other amenities but this is a great milestone for me,” said Mosikari.Puma Energy Retail Manager, Bashi Ratshosa said they want to open more investments and contribute to economic growth. “Puma Energy is growing with a global perspective, a rich African heritage and a strong focus on people.

And our emphasis on people stems from our belief that our customers, our staff and all our stakeholders are what make us who we are as a fuel provider,” said Ratshosa

He said they aspire to open up many more filling stations in addition to the current 36 stations. “Puma Energy will continue to open more opportunities for investors and create employment in the country,” said Ratshosa

Continue Reading

Business

Gov’t swiftly acts on BMC

Koobonye Ramokopelwa

Published

on

Government has moved swiftly to place Botswana Meat Commission under the care of a management firm; the move is meant to put the Commission into shape both operationally and financially.

This was disclosed by Finance and Economic Development Minister, Dr Thapelo Matsheka, further stating the BMC is technically insolvent despite having received nearly P1billion as a bailout in recent times. The new management company will run BMC, which is based in Lobatse starting on the 2020/2021 financial year.

The finance minister made it crystal clear that, the move to appoint a caretaker firm for BMC was made to protect the interests of all stakeholders, including farmers. According to Matsheka, the Minister of Agriculture Development and Food Security, Dr Edwin Dikoloti will provide more details on the BMC changes in due course during his committee of supply speech. Government is also proceeding with the conversion of BMC to a company under the Companies Act following the approval of BMC Transition Bill and subsequent repeal of the old Act.

The repealing of the BMC Act has since eliminated the monopoly of the Commission when it comes to beef and cattle export. The repeal has also enabled government to establish a beef regulator which will be responsible for regulating the beef and the cattle sector. “Another aspect of the transition is the ultimate privatization of BMC.

The objective of the privatization of BMC is, among others, to engage the private sector in the ownership and management of the BMC to achieve operational efficiency and profitability, as well as reduce Government’s future financial commitments in the entity. This would be an important process in the transformation of the beef and cattle sector,” noted Matsheka. BMC which is 100 percent owned by government has been operating with losses for many years due to internal and external challenges such as poor supply and Foot and Mouth Disease(FMD).

Continue Reading

Business

BSE invite companies for CSD project

Published

on

Botswana Stock Exchange (BSE) has intentions to implement a new Central Securities Depository (CSD) system by the second quarter of next year.

Authorities at the bourse have already put out a call for companies to perform a post migration data verification and quality assessment from the current depository system to a new depository system set to go live in the first half of 2020.“As part of the project, the BSE is to migrate master data and reference data from the current system to the new CSD system,” said BSE in a statement released this week.

According to BSE, the project will include comprehension of the BSE Data Migration Strategy and Plan and data mapping design and rules, review of the data migration ETL processes, data quality verification completeness, accuracy, consistency, definition and scope of data to migrate. In addition, BSE said it will migrate only active or open transactions in the current system to the new system. The scope of open transactions includes active or running corporate actions, active investor accounts, investor account balances above zero, active participants, active issuers and active instruments.

Meanwhile, BSE Chief Executive Officer, Thapelo Tsheole is on record citing that the new CSD system comes with functionalities such as securities borrowing and lending (SBL), management of the settlement guarantee fund, initial public offering (IPO) processing, e-voting for listed entities, repo management and online investor access.

Commenced in the first quarter of 2019, the project is also an integral element of the ongoing single CSD project pioneered by the Ministry of Finance and Economic Development, Non-Bank Financial Institutions Regulatory Authority and BSE.

The system is also expected to help increase the CSD system ratings by Thomas Murray, an assessment of which will be conducted once the system has been commissioned in early 2020.

Continue Reading

Trending