Thursday, September 24, 2020

Credmark to mull over Botswana’s economic path

Credmark Botswana is to host a one-day conference towards the end of next month aimed at trying to reposition Botswana on the global economy with particular reference to the credit markets in the country.

The conference, jointly organized by TransUnion, will be held on September 22 at the Gaborone International Convention Centre (GICC) and will be attended by the private and mining sectors.
The move comes at a time when there is a boom in the mining industry and the sector is expected to drive the economic growth of the country for the foreseeable future.

The Chief Executive Officer of Credmark Botswana, Nkosi Mwaba, said this year they are “inviting high level stakeholders to address and shed light on the direction Botswana should be taking in tackling issues brought about by the increasingly challenging world economy”.

“In order to strengthen and boost the private sectors and non-mining activities in line with economic expectations, the current culture in Botswana’s credit markets needs to change,” Mwaba said.

Critical issues to be addressed at this seminar, which will be held under the theme, ‘Creating Sound Credit Markets to Support a Diversifying Economy’, include service delivery and quality assurance in credit transactions.

“The role and importance of the consumer is often overlooked when addressing economic concerns, therefore, we intend to shed light on this through our experts,” Mwaba said.
Some of the issues to be covered include the role of the central banks and how their decisions affect the credit markets. The importance of insurance and basic knowledge on risk management in personal finance will also be touched on.

Topics to be covered at this conference include Credit Management and Leadership, Creating a better payment culture in Botswana, service delivery and quality assurance on credit transactions as well as the Role of the Reserve Bank and its effects on credit.
The event will also cover topics like, Spotlight on the economy – effects of rising fuel pricing, rising food prices and the tough times ahead. It will also look at how to avoid the ‘Bad Debt Trap’ as well as Zooming on Credit Agreements.
People expected to attend this conference include, directors, managers, executives, accountants, financial consultants, credit and risk managers, legal practitioners and others.
The conference will feature a subject matter expert, John Steward, Chief Executive Officer of TransUnion Africa Services, a leading firm in South Africa.

Steward is responsible for the management, growth and business strategy of the company’s Africa operations.

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