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Subscriptions boost BB

patriot by patriot
February 8, 2021
in Business
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Subscriptions boost BB
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Business Botswana’s (BB) financial performance in 2018 was boosted more by subscriptions.  Affiliated member s contributed P3.2 million, a 34% increase from the P2.4 million amassed in 2017

It was revealed at BB Annual General Meeting (AGM) that membership subscriptions have stood out to be cash cow for the organisation though having adopted other diverse strategies of making more extra money.

BB President Gobusamang Keebine, who was re-elected for the second term in office, said the organisation is still struggling to make money.

He said the core source of revenue remains the membership subscriptions as the number of affiliated members continue to grow strongly despite reluctance from other home businesses.

“We continue to experience financial struggle for running our operations. However, the positive increase in our membership subscriptions helps us to make money but we are coming up with other ways of raising funds to avoid dependency only on the subscriptions area,” said Keebine.

He said plans are afoot to develop the 26 hectare land plot owned by BB in Francistown to undertake business developments that would be means of generating extra cash for BB too.

Moreover, he said, their five year strategic plan – running from 2018-2023 – speaks to enhancing private sector growth by continuously exploring new markets for sustainability.

Business Botswana Treasurer, Dennis Alexander, said 2018 was a better year as compared to 2017, a year which he said a lot of deficit was incurred across some crucial revenue streams.

The difficulty, he said, was attributable to the fact that the organisation lost very important members who made immense contribution to subscription fees, hence crippling the revenues.

He, however, expressed concern that one of the very crucial revenue streams in 2018 being the Seminars, Workshops and Conferences noted a decline in income from P1 million to P 590 063.

The total income for yearly Business Botswana Trade Fairs registered increase of P719 668 in 2018 compared to P656 351 in 2017 due to tough conditions of members pulling out.

Business Botswana Chief Executive Officer, Norman Molele, said they have recently intensified their membership recruitment drive.

He expressed discontent that some of the businesses that are not subscribing to BB are still getting a lot of business from the Public Procurement and Assets Disposal Board (PPADB).

Moleele said this is not seating well with the affiliated businesses, saying that they have since submitted code of conduct to PPADB to suggest that preferential be given to their members.

The AGM re-elected Keebine as the president for the second term from 2019 to 2021 as nominated by the board and endorsed by members. Odirile Merafhe was also re-elected as BB Vice president South for the second consecutive term as well.

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  • Khamas form People’s Patriotic PartyJune 1, 2023
    BAKANG TIRO editors@thepatriot.co.bw A faction within Botswana Patriotic Front (BPF) aligned to the Khama family is hitting the ground running finalizing formation of a splinter party likely to be led by former MP for Palapye Moiseraele Goya. The Patriot […]
  • Battle for Mhlauli’s multi-millionsJune 1, 2023
    STAFF WRITERS editors@thepatriot.co.bw Three years after the passing of former permanent secretary in the ministry of local government, lands and housing  Elvidge Gaedupe Makhunga Mhlauli, his estate remains unsettled due to dispute between  creditors, beneficiaries and lawyers appointed for […]
  • ‘Women poised to dominate mining in future’- Experts June 1, 2023
    ‘Companies ought to break the barriers for women for them to rise to the top in the sector. Companies need objective quotas in place to give them power. They are the future of mining’- Dr Somolekae BAKANG TIRO editors@thepatriot.co.bw […]
  • PUBLIC TENDER NOTICE: Botswana Unified Revenue Service (BURS)May 31, 2023
    1. THE PROVISION OF BIG DATA IMPLEMENTATION AND DATA ANALYTICS FOR 18 MONTHSTender Closing: 16th June 2023 2. SUPPLIES PROCUREMENT OF CISCO COMMUNICATION AND COLLABORATION EQUIPMENTTender Closing: 16th June 2023 3. PHYSICAL BURS ASSET VERIFICATION, TAGGING AND RECONCILIATION OF […]
  • Vacancy: Choppies Distribution Centre.Pty.LtdMay 31, 2023
    FINANCIAL SERVICES­ – OPERATIONS MANAGER Closing Date: 15th June 2023
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