Page 27 - issue 28 2020

cont’d. 27
PPC Botswana BuyBotswana Virtual Conference

>> From Page 11
in the last 10 years it has seen fragile
for local businesses to look to digital growth hovering around 3 or 4 % while
platforms to advertise and sell their prior to those years it would have double “
services and products. Benefits of going digit growth . “Covid came at a time the The only way Buy Botswana
digital include as he discussed include economy was fragile. USA and China can work is if we show up
the less cost of advertising on minimum trade wars had impacted the diamond
budget unlike print and outdoor while sales as well. Impact of Covid 19 on for our clients and show
gaining a larger audience, mobile the economy during lockdown was the up for our country have a
money transactions are safer and faster major shock which saw mining sector goal that is larger than you
, less expenses in terms of rentals and shrink by 60.2% .That brings to spotlight
building infrastructure as costs are now how we are heavily depended on mining and be creative and stretch
more related to connectivity . Basically and tourism” she said .2021 forecast by reality
there is ease of convenient business different groups expect a shrink in the
transacting. economy with IMF expecting by 6.9 %
and Botswana Government by 8.95 and survive. “Start with why do you want to
BTC to enable your digital transformation ABSA -10.3% . start a business? Who owes you what?
have the right mobile technology, No one owes you anything. It was a
cloud based infrastructure, foe data Doing business beyond Covid-19 conscious decision to walk in the long
storage, visa technology .Host services we can never go back to the old hard road. You will make mistakes and
on the cloud .In his closing remarks normal .emerging trends will include move on. A lot of the times we think it’s
the Managing Director urged business globalization, more localization of the end of the world. It’s a long game and
to, “practice clean business and this goods and services , a change in no one may remember that mistake. As
eventually leads to removing corruption consumer needs and behaviors . New an entrepreneur we need to be able to
in a country, corruption kills businesses advanced and high use of technology survive difficult circumstances. Innovate
and the country cause it leads to higher and innovation and also the emergence every single day and stop defining other
costs and inferior or quality goods and of automation. entrepreneurs with their mistakes.
services. Being digital is the way to go Some mistakes cost money you may pay
and you can’t survive as a business if The tenacity of entrepreneurship was for them for a day or years but only you
you go otherwise.” the final presentation of the conference will remember those mistakes.”
by Ms. Sethebe Manake who is the
Naledi Madala an economist with ABSA Vintage Properties Managing Director. Manake said she started her own
bank talked about doing business Post She gave a detailed brief narrative of her Vintage Properties company to share
Covid-19 and she approached the topic name and her family history. She went knowledge about property management
by analyzing the economy and later on to say in business that more than the and development. Businesses need to
talked about trends emerging that are product and financials the investor bets transition and look at trends affecting
opportunities within the pandemic. on the entrepreneur. your business.be globally competitive.
In her own business she started
“When we think about Buy Botswana disseminating information via events
“Looking at numbers from World Bank
Covid has impacted global economy 4.4 we are selling our entrepreneurs. Are then this year they have launched a user
percent shrink and these are numbers they proud? What are their values friendly which requires no interaction
last seen during the great depression. and limits? When uncertainties come from staff but is informative and
Asian economies have emerged better do they find solutions and innovate or convenient platform.
in the depression because mostly of seek other illicit ways to make money?
digital money used there. There is an How do u treat people? Do u invest in She urged Btaswana to trust an informed
issue around inflation and volatility yourself and do you have knowledge gut. “With all of these things learning is
and countries trying to stimulate their of self? Tenacity is the desire to survive essential and it will be hard. The only
economies. Central bank of Botswana circumstances and to still be around .is way Buy Botswana can work is if we
has cut 100 base point to stabilize the the foundation strong enough to outlast show up for our clients and show up for
economy.” you ? What’s the mindset?” she asked. our country have a goal that is larger
With the aid of graphs she illustrated She spoke about an infinite game. Life than you and be creative and stretch
how Botswana’s growth record shows or business has no winner. Your win is to reality ant that’s the only way Buy
Botswana can work, “she concluded.