Diamonds expected to boost economy of the African city of Botswana
September 17, 2021, 2:38 pm

Diamonds expected to boost economy of the African city of Botswana

African countries-

The Xinhua reported according to the financial services provider Absa Bank Botswana, Botswana's economy is on a recovery course supported by the mining sector.

"Botswana's economic recovery is underway with an improving outlook for diamond demand buoying medium- to longer-term prospects. Rough diamond prices are recovering in line with stronger demand in key markets, such as the U.S. and China, and signs of a recovery in India," said Keabetswe Pheko-Moshagane, Absa managing director, who warned that the economy continues to face risks and uncertainties because of the pandemic.

Botswana has seen a steady rise in confirmed COVID-19 cases during the peak of the pandemic's third wave and authorities are banking on the rollout of the vaccines to ease the pandemic's wrath.

Meanwhile, though statistics indicate that the economy contracted 8.5 percent in 2020, Absa believed base effects would play a major role in supporting the country's projected growth rate of 6.7 percent in 2021.

Pheko-Moshagane said: "The government's economic recovery and growth plan is likely to provide further impetus to growth."

Source: xinhua

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has sponsored the BuildHer CityHack 2025 Hackathon, a two-day event spearheaded by the College of Engineering and Technology at the Royal University for Women (RUW).
Aimed at secondary school students, the event brought together a distinguished group of academic professionals and technology experts to mentor and inspire young participants.
More than 100 high school students from across the Kingdom of Bahrain took part in the hackathon, which featured an intensive programme of training workshops and hands-on sessions. These activities were tailored to enhance participants’ critical thinking, collaborative problem-solving, and team-building capabilities, while also encouraging the development of practical and sustainable solutions to contemporary challenges using modern technological tools.
BENEFIT’s Chief Executive Mr. Abdulwahed AlJanahi, commented: “Our support for this educational hackathon reflects our long-term strategic vision to nurture the talents of emerging national youth and empower the next generation of accomplished female leaders in technology. By fostering creativity and innovation, we aim to contribute meaningfully to Bahrain’s comprehensive development goals and align with the aspirations outlined in the Kingdom’s Vision 2030—an ambition in which BENEFIT plays a central role.”
Professor Riyadh Yousif Hamzah, President of the Royal University for Women, commented: “This initiative reflects our commitment to advancing women in STEM fields. We're cultivating a generation of creative, solution-driven female leaders who will drive national development. Our partnership with BENEFIT exemplifies the powerful synergy between academia and private sector in supporting educational innovation.”
Hanan Abdulla Hasan, Senior Manager, PR & Communication at BENEFIT, said: “We are honoured to collaborate with RUW in supporting this remarkable technology-focused event. It highlights our commitment to social responsibility, and our ongoing efforts to enhance the digital and innovation capabilities of young Bahraini women and foster their ability to harness technological tools in the service of a smarter, more sustainable future.”
For his part, Dr. Humam ElAgha, Acting Dean of the College of Engineering and Technology at the University, said: “BuildHer CityHack 2025 embodies our hands-on approach to education. By tackling real-world problems through creative thinking and sustainable solutions, we're preparing women to thrive in the knowledge economy – a cornerstone of the University's vision.”