ISSUE 16 JULY 2022
BECI and Business Botswana collaborate to propel business and economic growth
Diamonds sector in strong rebound
PPC introduces new Sales Manager
Orange Botswana’s new broadband solutions to boost business connectivity
It's not just about developing and providing innovative insurance solutions; we believe insurance should, at its core, be used as an instrument for social good. Through the active application of our Purpose, we aim to catalyze real, positive and enduring change, restore the dignity of those who need it the most and ultimately, create meaningful contributions to the communities we operate in. By doing what we do every day, we can enable more people to create and secure better futures.
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CONTENTS
ISSUE 16
JULY 2022
8
8
BECI and Business Botswana collaborate to propel business and economic growth Orange Botswana’s new broadband solutions to boost business connectivity
12
Alfred, appointed as ppc Botswana Sales Manager
14
Embracing digitization: Legal Guard launches consumer portal 16 Standard Bank Group London event geared to drive Africa’s long term growth
17
Investors should be heartened by Africa’s economic resilience in a trying global environment
18
Diamonds sector in strong rebound
20
De Beers lifts Anglo American recovery
21
Behavioural Finance: Money and Emotions
22
Leadership: Types of creativity part two
24
I am an African
26
Mid-Year financial check
28
Developing Your Business Idea 2 - The Numbers
30
The Intellectual Property rights system in Botswana
32
14
21
Strides Magazine
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July 2022
Strides Magazine
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July 2022
from the editor
PUBLISHED BY Strides Communications (Pty) Ltd EDITOR Ephraim Banda WRITERS Wame Mhlanga Henry David contributors Aobakwe K. Sentle Dr. Wilbert Mutoko Tumelo Sejo Boitumelo Chikumbutso Chapusa Hotwire PRC Coach Princess
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All information is supplied without liability. Although the publisher has taken all precautions to ensure that the information is correct at the time of publication, the publisher and their agents do not accept any liability, direct or indirect, for material contained in this publication. No part of this publication may be reproduced in any form or by any means without prior written permission of the copyright owners.
T
hank you for taking your time to read yet another copy of our insightful magazine. The team and I greatly appreciate your readership. That said, let me share my optimistic thoughts as regards the prevailing economic woes the world is experiencing. These circumstances have made life hard due to the punitive cost of living. However, we can choose to see the silver lining in the prevailing circumstances. I believe opportunities abound if one dares to see the big picture. Many commodities have become extremely expensive due to factors beyond our control yet I am sure that businesses and individuals have the power to respond to the challenges and create outstanding solutions. By creating solutions, businesses and individuals will be leveraging the challenges for the economic upliftment of their communities as well as nations. Nonetheless, this cannot be done single-handedly. There is a need for collaborative efforts. The public and private sectors can work hand in hand to facilitate much change. It is possible to create lasting solutions in the form of products and services. To achieve this change, there must be a paradigm change. We need not just a possibility mentality; we must believe and demonstrate it by massive action. In the absence of action, progress is impossible no matter how knowledgeable we are. The time is now; let each of us play a part in the transformation we desire. Please enjoy your copy of Strides and as our motto is, focus on possibility. You are blessed.
Ephraim Banda
ISSUE 13 NOVEMBER 2021
ISSUE 12 AUGUST 2021
Orange Money Celebrates 10 years
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That’s what we demonstrated when paying P6.6 million in claims every day, at a time when the COVID-19 pandemic was upsetting individual lives, families, communities, businesses and the world. Our commitment of more than 2.4 Billion Pula spent in 2021, translates to over 6.6 Million Pula paid out per day. In this way, we were able to assist in preserving livelihoods and assets as well as protecting the dignity and financial legacies of our clients, their families and wider communities during an unprecedented period of devastation and loss.
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BUSINESS
Strides Magazine
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July 2022
BECI and Business Botswana collaborate to propel business and economic growth By: Henry David
T
he solemnisation of a longstanding relationship between Export Credit Insurance and Guarantee Company Botswana (BECI), and Business Botswana through a Memorandum of Understanding (MoU) is the bedrock that will actuate business and economic growth. BECI says the inking of the MoU connotes the elevation of its collaboration with the Chamber of Commerce and a commitment to deliver their collective mandates to the business community. BECI General Manager, Cowell Habana, said his entity brings to the collaboration bespoke products and services to alleviate the needs and challenges of the business community rising from the prevailing economic environment. “We have closely collaborated with Business Botswana and other government agencies on the formulation and roll out of the COVID-19 Loan Guarantee Scheme, the formulation of the Medium and Long-term Export Credit Insurance and Outward Investment Insurance,” said Habana, adding, “This marriage presents the need to collaborate in fully rolling out strategies to get our business community to fully utilise these very key products towards the diversification of our economy through outward bound investments and participation in external capital projects. At our doorstep is the most important Africa Continental Free Trade Area (AfCFTA) agreement, which in Strides Magazine
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our view creates opportunities for our investors and traders to partake in this continental trade platform.” Habana said whilst these opportunities come along, BECI was aware of the enormous challenges and risks trade presents and hence the demand to take collaborative action. “It is critical that BECI plays its role of cushioning businesses against such risks emanating from international trade. The need to continue to reinvent the product offering is dire, hence the need to collaborate with Business Botswana as the voice of business to bring these to the attention of BECI to respond accordingly,” said Habana. According to BB Chief Executive Officer (CEO), Norman Moleele, the signing of the MoU is a significant milestone aimed at providing a collaborative framework within which both organisations will identify mechanisms for aligning organisational activities, information, and resource sharing, greatly enhancing the two organisations’ relationship and being a productive movement for the private sector. Moleele said the MoU intends to enhance the private sector’s ambitions of becoming the engine of growth. “We are therefore confident that with this partnership, the private sector will take on the responsibility of contributing more effectively to the country’s sustainable growth,” said Moleele.
BUSINESS
Business Botswana CEO Norman Moleele
To attain the above, Business Botswana will work with BECI on the following; A. Facilitate access to and contact with the BB membership and private sector, organisation and individual levels for collection of data and any other information as shall be determined from time to time and agreed to by both parties. B. Extend relevant initiatives organised by BB, its membership or partners to provide solutions to local exporters, manufacturers and service providers to meet export funding problems through the exchange of technical expertise,
knowledge and training opportunities C. Facilitate BECI’s advocacy initiatives targeted at the private sector for reachability and reception D. Share trade opportunities and business linkages to each other within their respective jurisdictions E. Organize and co-organise events related to domestic and export credit facilities workshops, export financing, client’s due diligence, networking services, and any other development and promotion activities in Botswana. Moleele implored the business community to take advantage of the products and services availed and facilitated
via the signing of the MoU to maximize the opportunities on the international markets. “BECI plays a pivotal role in improving the competitiveness of Botswana exports, as they provide amongst other credit insurance covers. As part of our recovery plan and strategy, export development is essential for the growth of Botswana enterprises, to compete both at national, regional and international levels. We belong to various regional, continental and international bodies which gives our members an advantage in the international networking space,” said Moleele.
BECI plays a pivotal role in improving the competitiveness of Botswana exports, as they provide amongst other credit insurance covers. - Moleele
Strides Magazine
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July 2022
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July 2022
CONNECTIVITY ENTREPRENEUR DEVELOPMENT
Strides Strides Magazine Magazine1212April July - May 2022 2022
Orange Botswana’s
new broadband solutions to boost business connectivity
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range Botswana’s newly launched business products for the Small Office/ Home Office (SOHO) and Small and Medium Enterprises (SME) markets will play a pivotal role in addressing the fundamental business needs of Batswana with affordable unlimited internet connectivity. Taking strides to bridge the digital divide, Orange Botswana continues to refine its services by acclimatising and changing with the fast-evolving digital world. Committed to improving the lives of Batswana, Orange Botswana has launched Konnecta Max Pro and Konnecta Max Office. These products will serve the Business to Business (B2B) market by offering internet services bundled with ICT business solutions accessible to all customers. The introduction of the new products to the Botswana market is a testament that Orange Botswana is continuously striving to address fundamental customer needs for affordable unlimited connectivity and giving them value for money. Orange Botswana Chief Executive Officer (CEO), Ms Nene Maïga, said the launch reflects the company’s resolve to provide cutting edge digital solutions. “We are thrilled to launch the Konnecta Max Pro and the Konnecta Max Office offers, it is truly
a moment of pride for us. These products reinforce our core values of consistently improving the customer experience for Batswana. This launch further strengthens our resolve to be Botswana’s first choice in broadband services. As the leading mobile network, we have continued to work towards leaving no stone unturned with regards to improving our digital and innovative capabilities,” said Maïga. The development is to display Orange Botswana’s innovation tactics concerning developing products and services specifically designed for SMEs and SOHOs. Also, it aims at exhibiting the network’s efforts toward digital inclusion. The Konnecta Max Pro is available with packages from P399.00 for
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4Mbps, and Konnecta Max Office will be on a 12, 24, and 36-month contract basis from P329.00 for 6Mbps. “At Orange Botswana we are committed to bridging the digital divide and ensuring that businesses and upcoming establishments have access to ICT services, abundant data and reliably fast internet at affordable prices with improved experience through the introduction of the new offers. Throughout the years, Orange Botswana has been striving to meet Batswana’s needs for reliable and convenient broadband connectivity. We remain committed to providing Batswana with innovative and digitalised solutions by bringing them closer to what matters most,” said Maïga.
LEADERSHIP
PC Botswana’s newly appointed Country Sales Manager, Effort Cliff Alfred, is geared up to lead PPC to heights unimagined.
Strides Magazine
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ALFRED, APPOINTED AS PPC BOTSWANA SALES MANAGER • Home-grown talent rises to the top • Alfred aims to use strategic planning to facilitate growth • PPC is dedicated to empowering Batswana
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he Maun-born protégé has been working at PPC Botswana for four years. He began his journey as a Sales Consultant fresh from the University of Botswana where he studied Bachelor of Business Administration-Marketing. He grew from Sales Consultant to Regional Sales Manager leading to this promotion. Under the role of Regional Sales Manager, he facilitated the development and implementation of sales strategies that ensured they were aligned to consumer needs, managing key accounts and making sure there was customer and business strategy alignment. Cliff also maintained and generated targeted sales activities for healthy revenue and controlling sales expenses, to mention a few. His main areas of focus were stakeholder engagement, customer prioritization and getting the sales team motivated to go the extra mile. It was through excelling at these roles that Alfred was able to ascend to the position of Sales Manager. The sales guru is a strong believer in the empowerment of Small and Medium-sized businesses. This is why PPC’s dedication to continue growing the local SMMEs within the construction and manufacturing sectors resonates so deeply with him. His alignment to the vision and values PPC ascribes is a great source of motivation to him. The
newly appointed sales manager has expressed his awe toward PPC’s enduring legacy, heritage and footprint in Africa. “PPC Botswana is the first cement manufacturer to build a cement plant that has employed hundreds of our country-folk. If that is not worthy of respect, I do not know what is.” Alfred remarked. The country sales manager aims to incessantly seek new opportunities for growth and value creation. Furthermore, Alfred believes that the amalgamation of marketing strategies against company resources coupled with diligent execution of said strategies is key to growing PPC’s market share. Through the consideration of market attributes such as overall demand and supply, competitive-cost curves, and past performances he hopes to discover and usher-in a strengthened value proposition, more significant consumer relations and new market platforms. PPC Botswana prides itself in the development of local talent. They are passionate about eradicating unemployment, providing opportunities for citizens, especially the youth and supporting citizen-owned businesses. Having companies like Rapha Shammah, Katlego Bricks and G.S Bricks etc. under their wings is a testament to their commitment to their core mandate.
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INSURANCE
Embracing digitization: Legal Guard launches consumer portal
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s digitisation is making unprecedented inroads into the daily operations of businesses, Legal Guard has boldly embraced the trend by simultaneously launching its Consumer Portal and revamping its company website. The website showcases updated content, refreshed layouts, and improved navigation for better conversions and site performance. It now contains a plethora of information on Legal Guard, their products and services, claims, complaints and appeals, as well as the library and, finally, the Consumer Portal. Through this portal, consumers can apply for premium coverage for their business or personal legal needs. Solutions available on this platform are both commercial and domestic, such as Kgwebo Guard, Moemedi Guard, Prestige, Accident Guard, and Tshireletso Premier. Legal Guard has and continues to offer consumers quality, affordable legal cover, thereby demonstrating its dedication to being the leading legal insurer in Botswana. Speaking at the launch, Legal Guard Managing Director Kgomotso Ratlhaga said that by adapting to the pace of technological developments, the company has positioned itself to be competitive and more formidable in the insurance space. "The fourth industrial revolution has undoubtedly shifted the lives of our consumers, and failing to adapt would be failing our customers." Therefore, this digitization and automation process will make our lives easier and bring us closer to them. This technology-driven change is an opportunity to help all people. This includes leaders, policy-makers, and different groups and nations. It allows us to harness converging technologies to create an inclusive, human-centred future. The real purpose of technology is to use it to find ways to positively impact families, organisations, and communities," said Ratlhaga. Ratlhanga noted that communication has become a very valuable commodity in the modern world and, as in other human relationships, reflects effort and commitment. "Communication equals relationship; people cherish communication." That is why there are countless communication portals such as Facebook, Instagram, Twitter, etc., and that is why they are so successful. Technology has made it easier to communicate with one another and has connected the world, said Ratlhaga. Legal Guard notes that it recognises the importance of communication with consumers and hence the decision to digitise their consumer journey through the Consumer portal. The portal will ensure the public at large gets access to legal solutions and communicate consistently and Strides Magazine
Legal Guard Managing Director Kgomotso Ratlhaga
"The consumer portal will drastically serve different stakeholders by providing easy access to products and services offered. - Ratlhaga effectively with Legal Guard. Ratlhaga elaborated, "The consumer portal will drastically serve different stakeholders by providing easy access to products and services offered, increasing interaction and engagement between consumers, and increasing consumer education," elaborated Ratlhaga. The transformation of processes from analogue to digital places the legal insurer ahead of competitors. Furthermore, it will allow customers to enjoy personalised interfaces, resulting in a seamless and convenient browsing experience. Crowning the benefits, the consumer portal will facilitate 24/7 access to assistance, basic information, and the utmost convenience. 16
July 2022
BANKING
Standard Bank Group London event geared to drive Africa’s long term growth
S
tandard Bank Group is bringing together institutional investors, policymakers and top African corporates to discuss Africa’s growth and investment opportunities at its flagship international event, the Africa Investors’ Conference. The event, in collaboration with ICBC Standard Bank, will take place at the Standard Bank offices in London from June 28th to 30th. The agenda-setting conference, now in its 12th year, provides an effective strategic platform for targeted business engagements by connecting institutional investors, senior management from Africa’s top listed companies and African policymakers. This year, the conference is returning to an in-person format having taken place virtually for the last two years due to the Covid-19 pandemic. Over 10 policymakers are expected to be present at the conference, as well as 62 corporates and over 150 investors, with the majority travelling to London. During the course of the three days, over 2000 meetings are expected to be facilitated. Across the three days, Standard Bank is welcoming some of Africa’s leading policymakers to share unique insights during the conference’s headline plenary sessions. These sessions will provide nuanced insight from those driving Africa’s strategies to attract foreign investment, concentrating on relevant monetary and fiscal policy initiatives. Notable speakers include South Africa’s Minister of Finance, Enoch Godongwana, Zainab Shamsuna Ahmed, Minister of Finance for Nigeria, Ernest Addison, Governor of the Central Bank of Ghana, and Mozambique’s Vice Minister of Economy and Finance, Dr. Amílcar Paia Tivane. Attendees will also hear addresses from representatives of Eskom, the South African electricity public utility Company, and Transnet, the South African rail, port and Pipeline Company. This year’s conference will highlight
the wealth of opportunities and innovation within Africa’s thriving Fintech sector. Africa’s Fintech development has accelerated dramatically in recent years, with peer-to-peer lending and the digitisation of SME’s critical to the continent’s growth. Up to 20 of the continent’s most exciting tech companies will be represented at the conference, including Market Force and Helium Health. In addition, attendees will hear from Standard Bank leaders and industry experts through discursive panel sessions focusing on specific sectors and issues most pertinent to facilitating investment into Africa. These include the trends and digital innovation within Africa’s Fintech scene, gold mining in an age of sustainability, and the opportunities to finance Africa’s just energy transition. Speaking ahead of the conference,
Brian Marshall, Group Head of Investment Banking at Standard Bank Group, said: “The Africa Investors’ Conference has long been a hugely reputable forum for investors, who are provided unparalleled access to Africa’s top policymakers and corporates, all of whom are united in the idea of advancing Africa’s long-term prosperity. After two challenging yet highly successful years running the conference virtually, where we managed to facilitate thousands of investor meetings, we are very happy to be returning to our traditional in-person format this year. Our peers have told us there is no substitute for face-to-face collaboration for such engagements, and we are looking forward to welcoming participants to our London offices for three days of productive, meaningful dialogue to chart Africa’s next phase of growth.”
The Africa Investors’ Conference has long been a hugely reputable forum for investors, who are provided unparalleled access to Africa’s top policymakers and corporates - Marshall Strides Magazine
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BANKING
Goolam Ballim, Chief Economist, Standard Bank Group
I
n an era of heightened geopolitical tension and rising inflation, it is easy for investors to ‘retreat’ and eschew opportunities outside of the developed world.This can extend to Africa, and there is an air of scepticism of Africa’s economic recovery and long-term growth prospects. While not as severely impacted as the West and other developed economies, Africa’s growth was dented by Covid-19 as trade flows stuttered and tourism stalled. This has prompted the IMF to predict that Sub-Saharan Africa will grow at just 3.8% in 2022, much lower than the average performance since 2000. However, there remains much cause for optimism, not just over the next decade, but in the second half of 2022.This positive outlook lies foremost in recognising that the pandemic has not impaired the continent’s main structural drivers of growth. Africa’s youthful population, ongoing urbanisation and development of its financial services, technology and power infrastructure continue to serve as the cornerstones for its ascent. In the short-term, the continent has shown promising signs of organic recovery from the pandemic which will be boosted further when China, Africa’s biggest trading partner, reengages. Meanwhile Africa’s commodity markets, the backbone of many of the continent’s largest economies, are relatively buoyant and countering some of the headwinds in the international environment. It is perhaps sage to consider why the pandemic has had a less searing and enduring impact on Africa. Despite persistently low vaccination rates, Africa has been shielded from widespread severe Covid-19 disease thanks to its young population. Africa’s median age of 20 is less than half that of Western Europe and those above the age of 60 account for less than 7% of
the population. With the prevalence and severity of lockdowns receding markedly, personal mobility has improved. As a result, there is less artificial constraint on many of the continent’s economies and the growth rate, especially of services, has surged. Green shoots are present across the continent Africa’s collective strength is its diverse economic backdrop; growth is multi speed and with varying primary drivers. Western-shelf countries, dominated by oil markets such as Angola and Nigeria, are enjoying accelerated growth after several years of tepid single-digit performance. Angola has been unshackled from five years of recession through to 2020, and the current favourable fiscal backdrop allows further room to consolidate political and economic reforms. Countries in the eastern shelf, Kenya, Tanzania, Uganda and Ethiopia, were resilient in the face of the pandemic, maintaining respectable growth rates in the mid-single digits. A tourism revival will provide a noticeable boost to the East African Community. Some of Africa’s other tourism dependent economies, South Africa, Egypt and Morocco, are also benefitting from increased personal mobility in source markets and a pent-up willingness to travel. Perhaps most significantly, optimism is resurfacing in one of the region’s largest economies, South Africa. The country has stabilised following the large-scale riots last July and President Ramaphosa has facilitated two major reform programmes. Energy reform is a bedrock pursuit and President Ramaphosa is ushering accelerated private sector participation in the primary energy realm, which was previously a closed shop. This includes in renewables, which now make up 3-4% of SA’s energy mosaic. Private sector companies can now Strides Magazine
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generate 100 MegaWatt (MW) of power, up from 1 MW, without onerous licensing conditions. This is a game changer, even if the results of this reform will largely surface over the medium-term. Second, President Ramaphosa ushered the recent auction of digital spectrum for mobile telecommunication firms. This additional landmark measure will go some way in further modernising Africa’s digital infrastructure, thereby broadening access and lowering communication costs. That said, there remain at least two major headwinds that will inhibit more spirited near-term growth across the continent.The first of these is global monetary tightening which will curtail capital flows to the continent and elevate risk aversion.The second is the impact of the war in Ukraine. While most African countries have less than 2% of their overall international trade with Russia and Ukraine, there are some notable exceptions, such as Egypt and Malawi. Moreover, for the vast majority of Africa, more than half of these countries’ wheat supplies come from Russia and Ukraine, with Benin and Somalia completely reliant on these two countries. While rekindling the path to sustained strong economic growth will be neither smooth nor universal, there remains ample reason to be constructive on Africa over the coming years. The general resilience that countries across the continent have demonstrated during the pandemic underscores its structural evolution over the last two decades.The next few years are set for more reforms akin to what beckons in South Africa, including gearing for a net zero future, albeit with a consideration for the continent’s current needs. Investors should therefore be approaching opportunities in Africa with purpose and with a realisation of the financial, socioeconomic and environmental gains on offer.
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MINING
Diamonds sector in strong rebound • Recovery boosts the economic growth prospects • Debswana production level bounce back strongly • Mining sector overall performance also promising STRIDES WRITER
M
ining data as released by Statistics Botswana (SB) the Index of Mining Production stood at 82.0 during the fourth quarter of 2021, showing a year-onyear increase of 28.1 percent from 64.0 recorded during the fourth quarter of 2020. Comparison on a quarter on-quarter basis shows a decrease of 19.6 percent, from the index of 101.9 realized during the third quarter of 2021. SB said diamond production increased by 24.2 percent (1, 038 thousand carats) from 4, 290 thousand carats during the fourth quarter of 2020 to 5, 329 thousand carats during the same quarter of 2021. “The increase was a result of intensified production strategy aligned with the stronger trading conditions. The quarter-on-quarter analysis shows that the production registered a decrease of 18.0 percent (1,172 thousand carats) during the fourth quarter of 2021 compared with 6, 500 thousand carats during the third quarter of 2021,” said Statistics Botswana on diamonds sector. With regards to cold mining, SB noted that Coal production increased by 9.3 percent (40, 099 tonnes), from 429, 382 tonnes during the fourth quarter of 2020, to 469, 481 tonnes in the current quarter. According to SB, The increase came as a result of the efforts made to meet increased demand from both domestic and international markets, particularly that new markets have been identified. On the other hand, quarter-on-quarter comparison shows that
coal production decreased by 14.5 percent (79, 746 tonnes) compared with 549, 227 tonnes during the third quarter of the current year. Salt production also went up by 27.9 percent (31, 385 tonnes) to 143, 751 tonnes during the fourth quarter of 2021, from 112, 366 tonnes during the same quarter of the previous year. “On the other hand, quarter-on-quarter analysis shows that salt production registered a decrease of 15.4 percent (26, 075 tonnes) compared with 169, 826 tonnes during Q3 quarter of 2021,” said SB. The Botswana Ash (Pty) Ltd (BotAsh), is the only extractor of Soda Ash, via a 50/50 partnership between the Government of Botswana and Chlor Alkali Holdings (CAH) Group, a South African based company, which is also the management partner and Botash produce over 200 000 tons per year. Meanwhile, Statistics Botswana said Coal production increased by 9.3 percent (40, 099 tonnes), from 429, 382 tonnes during the fourth quarter of 2020, to 469, 481 tonnes
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in the current quarter. The increase came as a result of the efforts made to meet the increased demand from both domestic and international markets, particularly that new markets have also been identified. On the other hand, quarter-on-quarter comparison shows that coal production decreased by 14.5 percent (79, 746 tonnes) compared with 549, 227 tonnes during the third quarter of the current year. Debswana output grows The central bank, Bank of Botswana has disclosed its April 2022 Monetary Policy Report that diamond production during the first quarter of 2022 with Debswana leading the pack in the production capacity. According to BoB report, Debswana produced 6.2 million carats of diamonds in first quarter of 2022. Also, the central bank said looking ahead, Debswana production target for 2022 has been set at 23.6 million carats, while output guidance for the larger De Beers Group is at 30-33 million carats for 2022.
De Beers lifts Anglo American recovery • Anglo in a strong recovery post COVID19 suppression • Debswana increased production contribute to growth
T
op global mining giant, Anglo American revealed in its 2021 annual report that its profit attributable to equity shareholders significantly to $8.6 billion as compared to $2.1 billion previous year 2020. Anglo American said improved operational performance was noted on the Platinum Group Metals (PGMs), De Beers and Kumba (Iron Ore) contributed to a 5% increase on a copper equivalent basis. This, it said, was driven in part by the easing of certain Covid19 related restrictions that impacted have production throughout 2020 as well as improved mining performance and processing stability at PGMs. Furthermore, the company that owns 85% stake in De Beers has said the planned higher rough diamond at De Beers in response to strong consumer demand and improved availability at Kumba. In 2021, De Beers’ total revenue increased significantly to $5.6 billion compared to $3.4 billion in 2020. The rough diamond sales rose to $4.9 billion (2020:$2.8 billion) driven by the positive sentiment and strong demand in a key consumer markets. Anglo anticipates strong rebound in 2022 as well. “With midstream capacity recovering, despite the second wave of Covid19 infections in India in the second quarter of 2021, on a consolidated basis, the rough
diamonds sales were significantly higher at 33.4 million carats (2020:21.4 million carats), Anglo said on financial report on De Beers. Also, the average realised price rose by 10% to $146\ ct (2020:$133\ct), primarily as a result of positive market sentiment which gave rise to an 11% strengthening of the average rough price index. Anglo American said revenue also increased within De Beers other businesses, including Element Six. “Underlying EBITDA increased to $1, 100 million (2020:$$417 million) reflecting the improvement in sales driven by the recovery in demand. Unit costs were broadly flat at $85\ct (2020:$57ct), as the benefit of higher production volumes was offset by an increase in input costs and a favorable exchange rates,” said Anglo American, a United Kingdom company listed in London Stock Exchange. Moreover, Chief Executive Officer (CEO) Bruce Cleaver’s led giant De Beers capital expenditure increased by 48% to %565 million compared to $381 million in 2020, as spend returned to more normalised level after the deferral of sustaining projects during 2020 in response to the Covid19. “The execution of Venetia Underground (in South Africa) and Jwaneng Cut-9 (in Botswana) life extension projects continued to progress, and the Namibian land operations was also approved during the year. The new AMV3 vessel for Namibia, now named the Benguela Gem ( the largest
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and most advanced diamond recovery vessel ever built), arrived in Cape Town in September 2021 to complete preparations for commissioning in the first quarter of 2022,” said the report. Botswana contribution In Botswana, Anglo said production was 35% higher at 22.3 million carats compared to 16.6 million in 2020, as production was increased in response to stronger prevailing diamonds demand. Production at Jwaneng Debswana mine increased by 71% to 12.9 million carats (2020: 7.5 million) due to the planned treatment of higher grade ore, and as result of Covid19 related lockdowns in 2020. Production at Orapa increased marginally by 5% to 9.4 million carats (2020:9.0 million carats), despite the impact of heavy rainfall in the beginning of the year and planned closure in plant in late 2020. Meanwhile, In South Africa production increased by 41% to 5.3 million carats compared to the 3.8 million carats in 2020, owing to the impact of Covid19 lockdowns in the first half of 2020 and the planned processing of higher grade ore from the final cut of the Venetia pit as well. “In Canada, production was marginally lower at 3.2 million carats (2020: 3.3 million carats), mainly due to temporary Covid19 related shutdown in the first quarter of 2021,” said Anglo.
PERSONAL FINANCE
Tumelo Sejo Boitumelo
Behavioural Finance: Money and Emotions
O
ne of the significant components of financial planning is looking beyond the analytical tools. It is a consideration of how clients feel and think. A great deal of what guarantees the efficiency of financial planning is a combination of analytical tools, client goals and needs and most importantly, the emotions that drive financial decisions; this is where behavioural finance comes into play. Behavioural finance compels one to interrogate the client’s motivation and expectations, beliefs and level of financial literacy. It brings up the conversation of their exposure, their childhood and how that influences their money decisions. Our financial decisions are intuitive and are often on an unconscious level of decision-making. It is because for the same reason that we always defy logical plans and default to what we know and deeply believe. Money is more than a financial concept. It is an emotional construct. In most instances, the disasters we experience are due to a poor psychological relationship with money. Our attitudes greatly influence our financial behaviour. Several factors like culture, ethnicity, gender, family and sicioeconomic status influence our atittudes. We discuss a few money scripts, or our unconscious beliefs about money, embedded in childhood, which affect our adult behaviours and perspectives.The attitude of parents towards debt can have a significant impact on how children perceive and utilise it. Parents who believe debt is the solution to their financial problems, and tend to be over-indebted, can influence their children to fear debt. This stems from the children’s experience in how debt, affected their parents and may have impoverished them. A few money scripts are discussed below:
Money avoidance This is a perception that there is a certain level of evil associated with money and the belief that rich people are greedy and corrupt. People who are money avoiders do not take responsibility for their financial behaviour and tend to blame others. Money Worship People who portray money worship, believe money will bring more happiness. Money worshipers believe that their needs can never be fulfilled, and they tend to become workaholics. They are also likely to show symptoms of hoarding and compulsive buying. Money status This is the belief that money brings status. People who believe in money status, link it to socioeconomic status.They link it to different socio-economic classes and are
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often materialistic and competitive. Money status has a big element of comparison, and they are more concerned with external perception. Money Vigilance These are people who are conscious of their finances and strong belief in the importance of saving for the future. They believe people must work for their money and do not believe in financial gifts or handouts. Such people tend to be anxious and secretive about their finances. Money vigilance is associated with positive financial outcomes and negatively associated with gambling disorder, compulsive buying, financial denial and financial infidelity. The financial decision-making process compels us to introspect, and have a deeper understanding of self. It is the psychology that drives and greatly influences the financial choices we eventually make.
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LEADERSHIP
“There is no separation of mind and emotions; emotions, thinking, and learning is all linked.” – Eric Jensen By Dr. Wilbert R. Mutoko (PhD, FHEA)
Introduction
Dr. Wilbert Mutoko is a Strategist, Professional Speaker, Educator, Coach, Consultant, and Author. He writes in his personal capacity. You can connect with him on LinkedIn, YouTube, Instagram, TikTok, Facebook or send feedback on email: wilbertmutoko@ gmail.com.
I
n part one, we looked at the first type of creativity, which is, deliberate and cognitive creativity. If you have not yet read, Leadership: Types of creativity part one, please read it first before reading this second part. That will give you a foundation to the series. In this article, we will look at the second type of creativity: Deliberate and Emotional Creativity.
Emotional creativity Kuska etal. (2020) wrote, “Emotional creativity (EC) is a pattern of cognitive abilities and personality traits related to originality and appropriateness in emotional experience.” On the other hand, Oriol (2016) posited, “Emotional creativity is defined as the ability to experience and express original, appropriate, and authentic combinations of emotions.” Thus, in this turbulent business environment, leaders need to know how to harness their emotions and those of others to manage change and lead innovation. Emotional creativity plays a key role in the ability to come up with new ideas because of emotional stability. Emotional creativity is a product of the ability to experience and express emotions effectively and wisely, whether positive emotions such as happiness, love, gratitude, and excitement; or negative emotions such as anger, sadness, grief, frustration, lust, and anxiety. Every person and every leader need emotional creativity to thrive in business and in corporate. While it is debatable, psychologists believe that positive emotions are conducive for creativity, while negative emotions are not suitable for creativity. This will differ from leader to leader, obviously due to differences in personalities. Leaders that have high emotional creativity are usually open-minded. As a leader, if you are Strides Magazine
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Indra Nooyi
going to lead through tough times, emotional creativity is a must have.
Short Case - Indra Nooyi Indra Nooyi, former PepsiCo CEO and Chairperson is an Indian-American business executive. She has been ranked high on the Forbes list of the top 100 most powerful women in the world. She is reputed to have been one of the most emotionally intelligent executives ever. For example, she advocated for sending hand-written ‘Thank you’ notes to each employee at PepsiCo. Indra wrote ‘thank you’ notes to the parents of each of his executives
to thank them for raising responsible and hardworking children who had become useful executives of PepsiCo. In each of the ‘thank you’ notes, Indra informed the parents what their child was doing at PepsiCo and thanked them as follows: ‘Thank you for the gift of a child to our company.’ After receiving the notes, most parents wrote back with emotions, mentioning that this was one of the greatest honors they had ever received. Indra further said that it pays to ensure that every employee feels loved and appreciated, not just taking them as a statistic. When employees are taken seriously, their loyalty increases, and it builds a strong organization.
Your experience How has been your experience with emotional creativity? What will you do differently to become a better leader? What are the timelines for the steps that
you will take to make a difference?
Conclusion In this article we have considered one type of creativity - deliberate and emotional creativity. We have concluded that it is essential for every leader to master their emotions and other people’s emotions to be able to build thriving organizations. Similarly, if the organization is to become creative, it is a must to ensure that all staff members are emotionally intelligent. In the coming article we will explore the third type of creativity that you should be on the lookout for to bring improvements to your organization, hence, increasing value to customers and making more money. I wish you the best of every success as a leader. Together we will sail through crisis. Feel free to email me any feedback and/or suggestions for the future articles. Strides Magazine
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References Kuška, M., Trnka, R., Mana, J. and Nikolai, T., 2020. Emotional creativity: A meta-analysis and integrative review. Creativity Research Journal, 32(2), pp.151-160. Oriol, X., Amutio, A., Mendoza, M., Da Costa, S. and Miranda, R., 2016. Emotional creativity as predictor of intrinsic motivation and academic engagement in university students: the mediating role of positive emotions. Frontiers in psychology, 7, p.1243.
LEADERSHIP
I am an
By: Catherine Lesetedi, CEO of The BIHL Group
I
am an African. I stand proud of the Botswana blue coursing through my veins. Of the rumble of the clouds of rain, maru a pula, echoing my heartbeat. I am an African, celebrating the community who helped raise me, the culture that nourished me, our children, who proudly carry the flag of this beautiful country in their hearts no matter where their feet may stand, the enterprising spirit that fulfils me, and the heritage that enshrouds me. But am I also an African who has lost my voice? And if so, I fear I am not alone. Today, our greatest asset is our voice; our greatest currency is our ability to promulgate change, and our effectiveness at driving progress. It is time that we muse, ponder, and elucidate further on developing Africa, not westernising it.And this is where my African voice features, or at least ought to do so. Our potential and opportunity as Africans and Africans is stronger than ever. Decades ago, they said Africa was rising. We saw the narrative grace the covers of The Times, The Economist, and more. How far have we come, and how do we become the architects and deliverers of our own vibrant dreams without compromising our unique and eclectic diversity of heritage, culture, and African-ness? How we manage that rise is what matters now. I am an African, but I know that the onus is upon me, upon us all, to engineer our own legacies for
Africa, for Botswana, for ourselves, and as a community collective.The transformation of Africa today is very much apparent. So why do we feed and help perpetuate harmful stereotypes and tropes about our cultures, beliefs, and practices, instead of speaking truth to power about the rich diversity that makes us all so great? It could be said that our resources are plundered, and our negotiation powers are often stripped, and this may well be true. After all, Africa is almost always at the back of the literal and proverbial line, pleading for handouts – be it vaccines, resources, or other basic needs.There is a distinct lack of urgency in this—we serve as secondary characters in our own story, rather than embracing a stronger sense of urgency, and becoming active authors of our own fate and our own narrative.Why? We need to reclaim our story, our heritage, and our ability to engineer our future, actively taking charge of Africa’s narrative as one of progress and deliverance. How do we reclaim it? It begins with a mindset shift, with a return to the very values and principles that birthed this great continent – botho, integrity, respect, extended family, and tshwaragano. Pay homage to our elders, help fellow Africans rise and prosper, demonstrate gratitude, humility, and more. Show respect to a culture of service and servitude, putting community above self, when necessary, leadership and recognising that progress is inherently sweeter and more sustainable when it comprises a collective rather than an individual. Strides Magazine
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Outside of politics and politicking, it is about leveraging traditional values and principles to unite us, bind us, and guide us. In doing so, we are better aligned and equipped to futureproof our own legacies as Africa and Africans.This means ensuring our infrastructure is inherently designed to ensure progress, connecting countries across Africa and built not simply to export outside of the continent but to facilitate intra-continental trade. It necessitates awakening our minds to be more deliberate and more intentional about recognising the wealth of being African and ensuring we all act as role models to live our truth in this way, inspiring generations to come and supporting each other to build off each other’s strengths, from ideation to execution, and re-defining our own standards and matrices of success, not those we borrow from others. It means collaborating with a genuine desire to see efficacy and impact into the long term, recognising that we need to internalise and "make our own" things out there instead of simply aligning, subscribing or adjusting to fit other molds, from global development goals to climate change strategies and more. We have become numb to so many of our own social ills—poverty gaps, gender issues, developmental bureaucracy—that we simply shrug and accept them without the necessary urgency to initiate change. The bright future of Africa is so much stronger when we ensure it is really and truly an authentically African perspective, populated with the talents, ambitions,
and actions of Africans. Let us look no further than examples of solutioneering by Africans for Africans – Mpesa in Kenya, Rwanda’s growth, having in Q4 2019 reached 10.2% according to African Business [1], was driven mainly by large public investments in implementation of the national strategy of transformation, the unrivalled academic prowess we see birthed from the continent, DRC’s incredibly powerful efforts in tackling Ebola, and South Africa’s own stamping out of apartheid from the grassroots up. In Botswana, we are harnessing the wealth of diamonds for community and national development and for our addressing of the HIV crisis. We have talent, we have ambition, and a truly phenomenal hunger for more. So, what does it take for us to leverage these in our own, truly authentic way, to move Africa forward, and to make "the Africa we want" a reality? Let us return to our values. Let us reclaim our story and carve it with purpose and intention, refusing to play second fiddle in the story of our own continent.We are grateful to those who may have provided some assistance;
we are thankful for the support. But more than that, we are happy to have respect for the autonomy we want, crave, and deserve. We do not simply want a seat at the table, we want to build our own. I, like many others, fear I may have allowed my voice to be silenced or muffled. Perhaps I did it to myself. Perhaps we allow fear, self-doubt, or a lack of courage to foster that. No more. The bright future of Africa is so much stronger when we ensure it is really and truly an authentically African perspective, populated with the talents, ambitions, and actions of Africans. We have no shortage of means or passion. Let us follow in the footsteps of countries such as Ghana, Benin, Togo, and Senegal, which export more manufactured machinery and goods within the Western African region than they do in their trading relations outside of Western Africa and the world. Let us forge a path that allows us to experience western culture without forgoing our own; one that will allow us to speak with one voice, embrace each other’s African cultures first, and solve our problems with like-minded approaches. Strides Magazine
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We have many to inspire us at a global level. Sir Seretse Khama, Nijel Amos, Isaac Makwala, Amantle Montsho, Rapelang Rabana, Mpule Kwelagobe, Dr. Sheila Tlou, Dr. Matshediso Moeti, and more. From Africa as a whole: Black Coffee, Ashish Thakkar, Elsa Majimbo, Mo Salah, Trevor Noah, and many more! The list goes on! We should celebrate and be inspired by these phenomenal personalities, their work, and their incredible contributions. They are all grounded by their African roots and upbringing, the communities they come from. Let’s allow them to inspire Africa more and be the driving force of our narrative. With the new dawn comes the extraordinary opportunity to redefine who we are and to redefine the remarkable Africa we want for ourselves and the future generation. We remain inspired, unified, and united with one goal and one purpose. I am African, prouder and more determined than ever before. Join me and let us support and inspire each other in this revolution.
PERSONAL FINANCE
MID-YEAR FINANCIAL CHECK “It’s not how much money you make, but how much money you keep, how hard it works for you, and how many generations you keep it for.” — Robert Kiyosaki By Coach Princess
Introduction
J
About the author Coach Princess is a director for Success Training Africa, a Pan-African Consulting company that serves three continents. She writes in her capacity. This article does not constitute financial advice, but this is general advice. For specific financial advice, you ought to contact a financial advisor. For feedback, contact Coach Princess by email: coachprincess5@ gmail.com
ust the other day, we were celebrating the beginning of 2022. It was January 1st, 2022. Fast forward, we are right in the middle of the year 2022. How time flies so fast! How far are you in terms of financial progress?
New year’s resolutions What happened to your new year’s resolutions? Some people wrote at the beginning of the year that by the end of 2022, they would be millionaires. Some folks wrote that they would be billionaires by then. Others promised that by December 2022, they would have saved such and such percentage of their income. Oops! Whatever happened to those resolutions!
Some questions for financial check How much money have I saved so far in 2022? How much money have I invested so far this year in real estate, stocks, business, cryptocurrency, bonds, and so on? How much money have I accumulated in my emergency (rainyday) fund? How much money have I accumulated in my retirement fund? How many people and/or organisations have benefited from my social responsibility activities so far? Have I been tracking my finances to see where the money is going monthly? How many financial books have I read so far? To whom am I financially accountable this year? What are my biggest financial challenges?
What steps will I take to address the financial challenges that I am currently facing? Are there any negative financial habits that I need to quit now? How can I increase my streams of income?
Never too late The purpose of this article is not to condemn you, but to remind you that it is never too late to work on the resolutions. Therefore, I would like to urge you to revisit your personal and/or business financial plan, annual budget, and cash flow projections. If you do something about your finances NOW, you will save yourself from self-blame, embarrassment, poverty, inconvenience, and shame.
Do not be in denial I urge you to avoid being in denial. I have seen several people who hope that the next year will be better than this year, but they do not make effort to make this year count. When they get to the next year, they realise that nothing has
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changed. Then they hope that the next year will be better. It becomes a vicious cycle. If you want to succeed financially, stop waiting for a better year. Utilise the remaining months of this year to put your personal and/or business finances in order.
No one is coming In case you thought that someone is coming to help you to sort your finances, I am sorry to inform you that the help that you have been waiting for is not coming, it is already in you. No one is coming to help you. If you ignore your finances, things will only get worse. Arise and put your financial house in order!
Conclusion I hope that this article has challenged you to go back to the drawing board and revive your financial plan. This applies whether you are looking at personal finance or corporate finance. I hope the article makes a difference in your life. See you in the next article. Stay strong and safe.
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ENTREPRENEURSHIP
AOBAKWE K. SENTLE
Developing Your Business Idea 2 - The Numbers
T
he famous saying about numbers goes like ‘The Numbers Don’t Lie” and this cliché means that the numerical data or computations related to something show the incontestable truth about the situation. When you are working on your business idea there are a lot of numbers and information that you have to go through whether generated by yourself primarily or numbers coming from secondary sources such as business publications or any other data centers. Numbers will have to be an important part because of developing your business idea because they can give you a scope or guidance, in an objective manner, of what your business situation will be like or is already like. There are different metrics that come as numbers that you have to take heed of when developing your business idea. First and foremost is the market size, that is, the maximum total number of sales or customers your business can see, often measured over the course of a year. It’s helpful to know the potential market size before launching a new product line or line of business, since that can help you understand if it’s
a worthwhile investment of your time and money. What Am I Saying here? The fact that you want to sell fat cakes in your neighborhood means that you have to know how many people are there within the area that you want to reach and if they are a good enough number for your to pursue your business lest you open a fat cake shop and you find yourself with a few customers making the investment unprofitable. Once you have established the market size and are completely satisfied with the number of potential buyers for your fat cakes, next is the start-up costs. Startup costs are all expenses incurred to plan, register, organize and launch a new business. It is the aggregated cost to bring any new business idea to the open market. A business is born with an idea, but a business has to be built around that idea. An individual with the desire to start a business has to pay for many previous expenses long before it starts producing any money. These expenses come from things like buying stock, business registration fees, advertisement, training expenses and other operating costs that come from organizing the business before it goes live. Strides Magazine
Now you have the total number of potential buyers and you know how much it will cost you to start your business, the next most important number is the pricing of your goods and or services. Price is the amount that your customers will pay to acquire your product or service and many factors have to be taken into consideration when you do this exercise. There different types of pricing regimes but the most important thing is about price is that it MUST be able to cover the cost of acquiring whatever you are selling or service you are rendering and also leave you with something to take home, that is your profit. So what will determine your price after considering your costs? I think you have to look at the prevailing market prices of similar products and services so as to be able to compete with the market. Whether you set it lower than the market average or higher all depends on your business strategy and type of customers you are serving. The above piece is the basics on numbers and some of the factors I regard as most important to know about your business in your journey to developing your business idea. 30
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Aobakwe K. Sentle is a Motswana entrepreneur who runs a small and medium enterprise or startup consulting firm (BluStreak Consulting) Aobakwe Sentle is also partner at Fane Communications Media (A film production company).
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LAW
LAW
LEGAL MATTERS By: Beaven (Llb, Llm Sa)
The Intellectual Property rights system in Botswana C harles Handy once said “Forget land buildings or machines-the real source of wealth today is intelligence; applied intelligence. We talk glibly of intellectual property without taking on board what it really means. It is not just patent rights and brand names; it is the brains of the place”. Indeed; Intellectual property rights are critical assets in modern day law and life in general. These rights are a real source of wealth as they seek to protect creations of the mind by developing something new and original. The Industrial Property Act 2010 provides for the protection of certain types of Intellectual Property. In this article, we shall look at all the types of Intellectual Property protected by this Act and these are:
Patents A patent is an exclusive right granted for invention, which is a product or process that provides in general a new way of doing something, or offers a new technical solution to a problem. The patent is not directed towards the way the product looks but rather in the fact that it has certain specifications. The process starts out with an inventor who comes up with an idea and start developing how it works. Until a person files for a patent they have to keep their invention a secret. A patent provides protection in respect of a concept or an idea, which protection is not necessarily dependent upon the physical embodiment of the concept or idea. Artificial
Intelligence inventions can be patented. Copyrights These are exclusive rights given to the owner of the original work to copy and distribute their work. They do not require to be registered since they belong to the author or performer and is obtained automatically without the need for registration. Apply to literary, artistic works, books, speeches, productions, photos, stage production and sculpture; but cannot protect ideas or procedures. A copyright is transferable from one person to another because it requires consent of the creator of the original work.
Layout Designs Of Integrated Circuits.
Trademarks. Trademarks are used to distinguish goods and services form everyone else’s ideas. For instance: ‘M’ is just an ordinary letter of the alphabet, but now it is a well-known trademark for MacDonalds. Making a mark famous is called ‘branding’, a product will subsequently be commonly known by customers as a brand. A mark is a very successful commercial device in that most customers will identify the product without even thinking about it. A mark is any sign capable of being represented graphically; so, anything that is a sign that is capable of being represented graphically is capable of being a trademark. A mark is any sign capable of being represented graphically; so, anything that is a sign that is capable of being represented graphically is capable of Strides Magazine
being a trademark. Industrial Designs. These will be registered if it is a new design in any given industry; the term ‘new’ means that the design does not exist somewhere else and is not known to the public. Design should not be misconstrued to entirely concentrate on functional or technical considerations. The right to the design shall belong to the owner of the design. The right to the design is not restricted to the owners for its entirety, but may be transferred by cession operation of law or even testamentary disposition.
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Layout designs are used in manufacturing they are three dimensional in arrangement of its elements forming the integrated circuit. The owner of a layout design of integrated circuits will only be able to register it if it has not already been registered elsewhere. It should have elements and interconnections in order to qualify as a layout design of integrated circuits.
Geographical Indications. They come as a notice which states that a certain product originates from a given geographical area. This applies mostly to agricultural goods, natural goods and manufactured goods in a particular country region. This is important for quality ascertainment purposes, reputation or
certain characteristics of a product owing to its place of origin. Evidence must be tendered, through description of goods and the details of the product, that a product indeed originates from the defined geographical area. A good example is Champagne a sparkling wine produced in the Champagne region of France as such, by Treaty no other European country is allowed to use the name Champagne for its wines.
Unfair Competition
Making false claims about a product is regarded as unfair competition. This is essentially a deceptive business practice which has potential to harm either the consumers or other business entities. In essence; unfair competition is a business tort or a civil wrong causing the claimant to suffer loss or harm. The concept known as bait-andswitch meaning substituting a lower cost product from a different brand for a more expensive higher quality brand also qualifies as unfair competition.
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Traditional Knowledge. Traditional knowledge will be registered if it is not common knowledge to the public and any local traditional practitioner or community may apply to register. Ownership rights shall belong to the owner of the traditional knowledge. The traditional knowledge should be created by the person applying for the registration. billy.bliss@live.com
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