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Income Tax Act Amendment (Cap 52:01)
The government has recently introduced a Bill to amend the Income Tax Act (Cap 52:01) in a bid to further reduce harmful tax practices as required by Base Erosion and Profit Shifting (BEPS) framework. The effective date of the bill is not known at this stage.
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Grant Thornton Private Business Growth Awards celebrate local business with great success
An unprecedented number of entries were received for the annual Growth Awards platform this year. The awards penetrate all 10 Districts of Botswana, as Alpha Direct got named winner in Medium Enterprise Category, and Motovac named winner in Large Enterprise Category.
Mounting pressure beginning to drive progress for women in senior leadership
As per Grant Thornton’s Women in Business International Business Report, the percentage of businesses in Botswana with at least one woman in senior management stands at 72%, a step closer to the global percentage of 87% which showed an increase of 12% from last year’s survey. The research states that overall, women now hold 29% of senior leadership positions globally. While this is only up 10% over the past 15 years of research, half this increase (5%) has been achieved in the last 12 months alone.
Botswana businesses more optimistic about economic outlook of 2019 than global businesses
Following a period of heightened optimism and strong economic growth, the outlook for businesses in 2019 is markedly more reserved as the global economic cycle cools and political uncertainty begins to bite, according to the latest research from Grant Thornton’s International Business Report (IBR).
Grant Thornton Botswana celebrates annual “Global CSR Day” and Tshwaragano Primary School’s 40th anniversary
For many years, Grant Thornton Botswana (a member firm of Grant Thornnton International Limited - GTIL) has been committed to making a difference in people’s lives and giving back to the local community through various Corporate Social Responsibility (CSR) activities. “GT (Growing Together) in the community” is a core pillar of their global strategy and also the basis of their annual “Global CSR Day”. On this day, Grant Thornton member firms all over the world engage in community service and collectively celebrate giving back to worthy causes in their respective communities.
Grant Thornton continues to make a difference in the community
As a home grown firm whose existence is deep rooted in the people and community of Botswana, Grant Thornton strives to grow the country and its vision of a compassionate and caring nation. “Grant Thornton believes in giving back and being part of the community. We have been supporting various deserving organisations in Botswana over the last few decades, through our contributions and time dedicated to community service. Gamodubu Child Care Trust situated in the Gamodubu village truly deserves attention and hence this year we decided to make a difference to the lives of the children who live at this centre”, said Pushpa Ramesh, Grant Thornton Botswana’s Head of People and Culture and CSR Champion.
Botswana shows steady progress over the last 4 years as more businesses have women in senior leadership roles
According to Grant Thornton International Ltd.’s annual Women in Business report, Botswana businesses have taken two steps forward on women in leadership, with the percentage of businesses that have at least one woman on the senior management team increasing from 73% in 2017 to 78% in 2018 (globally 66% in 2017 to 75% in 2018). The proportion of senior management team that comprises of women has also increased from 31% in 2017 to 33% in 2018. On its own the proportion increase seems small, however fairs better than the global change which saw a decrease of from 25% in 2017 to 24% in 2018.
Diversity in senior leadership teams
Many businesses globally are missing out on opportunities because of a lack of diversity in senior leadership teams. This means that a business does not necessarily reflect the markets or communities in which they operate, and it could be holding them back.