10 minute read
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ISSUE 9 MARCH/APRIL 2021
Botswana’s economy projected to grow by 8.8 Percent Leading in the 4th Industrial Revolution
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BOTSWANA
CONTENTS
ISSUE 9 VOL 3
8
10
Leading in the 4th Industrial Revolution
Card fraud: How do fraudsters prey on banking card users?
Life-Changing Wilderness Safaris Journey Offers a Lifeline for Linyanti Elephants
The BIHL group stays resilient, performing well in uncertain times 12
14
18
22
PPC in drive to boost education 24
De Beers buoyant on sales 25
Leading like a lion or lioness in uncertain times part 1 26
EntreprenuerApp- Of Business and Internal Processes 28 Financial planning for entrepreneurs 29
Decide to challenge stereotyping against women 30
30 12 MAR/ApRil 2021
18
24
Nametsega, ka MONAMETSI
FUNERAL COVER
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PUBLISHED BY Strides Publications (Pty) Ltd
EDITOR Ephraim Banda
WRITERS Wame Mhlanga Henry David
COnTRIBUTORS Aobakwe K. Sentle Dr. Wilbert Mutoko Tumelo Sejo Boitumelo
MARKETInG & ADVERTISInG sstridemagazine @gmail.com
COnTACTS +267 73319723 +267 77625030
DESIGn/LAYOUT Jon +267 71362491
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from the editor
The Next Normal: A new leadership challenge
The Covid-19 vaccine has conveyed great hope despite the many misgivings, misconceptions, theories and ignorance about the jab.
There are optimistic expectations on many issues chief of which is economic growth and job creation across the globe.
A closer look at the past year depicts that we are indeed in a thought provoking time. We have fast moved from what we termed normal to the new normal. Interestingly, especially with the advent of the Covid-19 vaccine, leaders worldwide are contemplating the nature of what is now being termed the next normal.
The next normal, I am convinced, is of a new leadership challenge as it will comprise elements from both the old and new normal plus more. Its demands are complex and cannot be solved by straight line thinking.
There are questions that leaders need to answer in this new era. These questions includes; how much can be spent on development and acquisition of new technology, what type of training or skills are needed to bring a good return on new technological investments. And with the pace of technological advancement, what strategy can be put in place to avert loses with such investments and many more.
On the other hand, it is also important to strategically map out a way to alleviate the psychological effects of the pandemic on staff as we advance into the next normal. Things may look great on the surface yet people have suffered much during the pandemic. So for leadership to get the best out their staff, there must be a clear strategy to address known and anticipated psychological issues the pandemic has inflicted on the workforce.
I am upbeat that in the end, we will not be overtaken or rundown by events in the next normal as our leaders will deliberate strategically on the best way forward in matters of business and every other significant issues that affects the human life.
I am confident that we will recover and advance to do the very best possible to thrive in the next normal as individuals as well as nations.
As you contemplate about the next normal, please enjoy this issue. We have several great articles focused on the expected growth of the Botswana economy, resilience of one of the country’s leading insurance company the BIHL, leadership nuggets by Stanbic Bank Botswana, tourism and awesome columns by our well versed contributors.
Lastly, I say stand firm in the conviction that the pandemic will pass and focus, as usual, on possibility. Remember the darkest hour is before dawn, so hold on, believe, and be strong and courageous.
NEW P10 BANKNOTE IN CIRCULATION
A new version of the polymer P10 banknote is entering circulation. The design is similar to the previous polymer version of the banknote, but there are some differences and it is important that the public knows what to look for to check authenticity of the new banknote. The old banknotes will not be withdrawn from circulation and shall run parallel with the new banknote.
FRONT
BACK
6
2 1 5 3
2
4
LOOK
GET TO KNOW YOUR NEW BANKNOTE
WHEN THE BANKNOTE IS HELD UP TO THE LIGHT, THE FOLLOWING FEATURES CAN BE SEEN
FEEL TILT
1
Portrait of His Excellency Dr. Mokgweetsi Eric Keabetswe Masisi, President of the Republic of Botswana.
2
A clear window with the rampant Zebra from the Bank’s crest. This can be seen from both sides of the banknote.
3
In the shield beside the Zebra, the number 10 appears.
4
A pattern of six raised dots to aid the visually impaired can be felt when running your fingers over the edge of the note.
5
There are shiny stripes of golden shimmery ink down the middle of the banknote showing a diamond. This appears and disappears as the banknote is tilted.
6
Glossy varnish showing the denomination 10, P10 and a geometrical shape.
Bank of Botswana (BoB) Governor, Moses D Pelaelo
By: Henry David
Having experienced an estimated 7.7 percent contraction in 2020 due, mainly to factors related to the Covid-19 containment, Botswana’s economy is projected to rebound and grow at a forecast 8.8 percent in 2021. Bank of Botswana (BoB) Governor, Moses Pelaelo has said.
Pelaelo noted that the rebound will be premised on conducive financing conditions associated with accommodative monetary policy and a sound financial environment.
“In addition, the mid-term review of the National Development Plan 11, supported by effective implementation of the Economic Recovery and Transformation Plan, provides added impetus for positive economic prospects,” said Pelaelo.
The Governor Indicated that overall, both external and domestic pressures on inflation are expected to be benign, and it is projected that inflation will revert to within the Bank’s 3 – 6 percent medium-term objective range from the second quarter of 2021.
“The forecast incorporates the announced increase in value added tax, fuel levy, electricity tariffs, Botswana Housing Corporation rentals, as well as the introduction of sugar tax. The forecast also takes into account the likely impact on domestic fuel prices of the expected increase in international oil prices, the anticipated strengthening of commodity prices generally, the upward revision in the South African inflation forecasts and the base effects associated with the decrease in fuel prices in 2020,” elucidates Pelaelo adding, “The overall favourable medium-term outlook for inflation is in the context of moderate growth in economic activity ‘and a sound and stable financial system. Therefore, prospective developments augur well for maintenance of an accommodative monetary policy that supports productive lending to businesses and households, potentially resulting in welfare enhancements that also drive economic activity.”
Furthermore, the Governor said the implementation of monetary policy will continue to focus on entrenching expectations of low, predictable and sustainable inflation, through timely responses to price developments; while, at the same time, taking due care to ensure that policy decisions are consistent with durable financial stability and support sustainable economic growth and employment creation.
On exchange rate, the Governor said in consistent with Botswana’s trade pattern, the weights of the constituent currencies in the Pula Basket are 45 percent for the South African rand and 55 percent for the SDR. A downward rate of crawl of 2.87 percent of the nominal effective exchange rate is also being implemented in 2021.
“With low inflation, the policy framework allows flexibility to loosen real monetary conditions through a downward rate of crawl to enhance global competitiveness of the domestic industry and support economic growth.
“This exchange rate policy framework is anchored on strong performance and adequacy of the foreign exchange reserves, which have, however, recently fallen from P65.2 billion or 12 months of import cover in December 2019 to an estimate of P53.4 billion or 10 months of import cover in December 2020, due to the adverse impact of COVID-19 on domestic economic performance. Thus, the importance of the flexibility inherent in the exchange rate framework that facilitates adjustments necessary to generate improvements in international competitiveness of the domestic firms and, therefore, better balance of payments outcomes that support maintenance of adequate level of foreign exchange reserves, necessary to cushion the economy against adverse economic developments,” explained Pelaelo.
