FINANCE MINISTER: Dr Matsheka
With the Minister of Finance and Economic Development (MFED), Dr. Thapelo Matsheka scheduled to deliver the 2021/22 Budget Speech on Monday, economists expect the minister to explicitly reveal how the country will emerge for the economic downturn caused by the Covid-19 pandemic.
Last year, the government announced the Economic Recovery and Transformation Plan (ERTP) which is estimated to cost P14.5 billion.
Speaking to Voice Money this week, Quantitative Analyst at First National Bank Botswana (FNBB), Gomolemo Bosele said the expectation is that Matsheka will announce key projects and initiatives under the ERTP to support Botswana’s growth trajectory.
DOING HIS THING: Ntsenang cutting up a geyser
Despite earning a decent wage from his demanding day job at Debswana, Wilberforce Dolph Ntsenang was not content relying solely on his mining income after discovering his new business niche.
In 2013, the 39-year-old realised there was an opportunity in the steel-making industry.
Although he had no formal training in working with steel, it was a gap the talented craftsman expertly set out to exploit.
Supplementing his livelihood as a Monitoring Dispatcher at the diamond mine in Orapa, Ntsenang started building and selling various items, including sliding gates, braai stands, donkey carts, and lion trap cages.
Jonathan Hore
Although it is not yet official, a recently leaked government communiqué indicates there will be an increase in the income tax threshold from the 1st of July this year.
It means anyone whose monthly earnings are P4, 000 or less will not have to pay income tax. The present cut-off point is P3, 000.
Further breaking it down for Voice Money, Managing Tax Consultant at Aupracon Tax Specialists, Jonathan Hore explained, “To those who pay tax, it will reduce tax a bit as the non-taxable threshold increases to P48, 000 from the current P36, 000.”
He noted such a move effectively recognizes that the P3, 000 per month, in place since 1 July 2011, was now too low.
BUSINESS MINDED: Letlole
Disillusioned with the profession he studied for, Baoliki Letlole opted for an unusual career move, quitting his glamorous job as a Graphic Designer for the grimy world of pest and termite control.
Having set up Termax in 2017, the 32-year-old Manyana native remains content in his switch.
“I quit Graphic Design three years ago to venture into the business of pest control or management. Before starting the business I did a short course on Agrochemical management at the Botswana University of Agriculture and Natural Resources (BUAN),” states Letlole, explaining that before one can venture into pest control they must be certified in handling pesticides.