Wednesday, March 29, 2023
  • About
  • Advertise
  • Privacy Policy
  • Cookie Policy
  • Contact
  • Subscribe
  • E-edition
  • Login
  • Register
  • Home
  • News
  • Economy
  • Columns
  • Companies & Markets
  • In Business With
  • Lifestyle
    • Motoring
  • Sports
    Botswana’s women boxing on the rise 

    Boxers Finally Receive their Prize Money from 2022 African Championships

    Darts Expects Only P50K from BNSC for 2023/24

    Darts Expects Only P50K from BNSC for 2023/24

    Botswana athletes to train in USA

    Botswana athletes to train in USA

    Debswana’s BAA Sponsorship Plays Critical Role in Developing BW Athletics – Theetso

    Debswana’s BAA Sponsorship Plays Critical Role in Developing BW Athletics – Theetso

    Boxers yet to Receive Prizes from 2022 African Boxing Championships 

    Boxers yet to Receive Prizes from 2022 African Boxing Championships 

    April will see 2nd Instalment of Summer Kids Marathon

    April will see 2nd Instalment of Summer Kids Marathon

    Trending Tags

    • Subscribe
    No Result
    View All Result
    • Home
    • News
    • Economy
    • Columns
    • Companies & Markets
    • In Business With
    • Lifestyle
      • Motoring
    • Sports
      Botswana’s women boxing on the rise 

      Boxers Finally Receive their Prize Money from 2022 African Championships

      Darts Expects Only P50K from BNSC for 2023/24

      Darts Expects Only P50K from BNSC for 2023/24

      Botswana athletes to train in USA

      Botswana athletes to train in USA

      Debswana’s BAA Sponsorship Plays Critical Role in Developing BW Athletics – Theetso

      Debswana’s BAA Sponsorship Plays Critical Role in Developing BW Athletics – Theetso

      Boxers yet to Receive Prizes from 2022 African Boxing Championships 

      Boxers yet to Receive Prizes from 2022 African Boxing Championships 

      April will see 2nd Instalment of Summer Kids Marathon

      April will see 2nd Instalment of Summer Kids Marathon

      Trending Tags

      • Subscribe
      No Result
      View All Result
      The Business Weekly & Review
      No Result
      View All Result
      Home Columns Market Research & your business

      Fong Kongs drive the economy – research

      mm by Rachel Hore
      October 25, 2022
      in Market Research & your business
      Reading Time: 3 mins read
      0
      Fuelnomics behind the transport fares furore

      GABORONE 1 March 2021, A fuel filling station attendant pumping fuel in a car on 1 March 2021. According to the Botswana Energy Regulatory Authority (BERA) retail pump prices increase from today as Unleaded petrol 93 price increases by 58 thebe per litre, while unleaded petrol 95 increases 57 thebe per litter and diesel 52 thebe per litre. (Pic: MONIRUL BHUIYAN/PRESS PHOTO)

      Share on FacebookShare on Twitter

      As a firm specializing in market research and data analysis through surveys, feasibility studies, polls, among others, we hope to bring valuable insights through today’s article as we focus on the importance of imported vehicles in the economy.

      Statistics Botswana recently published a report titled ‘Transport Infrastructure Q1 2022’ which presents an assessment of the quantum of vehicles and their registration status.

      The report states that 7,974 motor vehicles were registered for the first time during 2022 Q1. Used vehicles constituted 77.6 percent of the new registrants, whilst brand-news accounted for 22.3 percent and rebuilt vehicles 0.1 percent. At least 77.0 percent of the brand-new vehicles were imported from South Africa and vans were the highest at 74.8 percent of the total. Japanese vehicles constituted 67.1 percent of vehicle first registrations and 99.5 percent of these were second-hand. Passenger cars constituted 82.5 percent of the used vehicles recorded. The importation pattern is uneven within the country, most importers reside in towns and Toyota is the preferred brand.

      Increased business opportunities

      The statistics stated above show that Batswana imports a lot of vehicles from either Japan (second-hand) or South Africa (new). Multiplication of transport infrastructure is good for the economy as this boosts economic activity. Most of these imports are personal mobility vehicles (PMVs) which are used daily for business and local travel. Small to medium businesses especially those who offer delivery or courier services use these vehicles for their day-to-day operations since they are fuel-saving and relatively cheaper to maintain. They are also very commonly used by small taxi/cab operators for the same reasons thus improving the mobility of people from one place to the next.

      The increased imports of PMVs also come with other business opportunities such as car repair services, spare parts sales, petroleum products, and more. Consequently, employment opportunities are created for Batswana. Finally, more revenue is guaranteed to the fiscus in the form of levies (customs duty), and vehicle insurance.

      Research is key

      It is clear that the increased importation of cars into Botswana boosts its economic activities, which is a positive development for the country. However, there may also be cons to this phenomenon that need to be further investigated. With higher importation of PMVs, it may also mean that the public transport business for fare-paying passengers is slowly dying away as the masses are opting to transport themselves using private vehicles. In areas like Gaborone North for example, besides the bad gravel roads, most residents have their personal cars such that it is a mammoth task for a kombi to fill up at the bus rank. Fewer trips in the kombi business mean less profits. It is also important to note that those who are already in the public transport business especially for short trips between home and the workplace or school, may need to innovate to remain relevant.

      Lastly, this information is important for the government to be aware of the challenges that come with more vehicles on the road and plan accordingly some of which are traffic congestion, and increased road accidents among others. Another concern is that it may stifle the development of the local car manufacturing industry in the country as second-hand vehicles tend to be cheaper than brand-new cars.

      Conclusion

      We hope that this article was insightful and that it demonstrated to some extent the importance of market research or data in business decision-making. For more insights into your own market niche, we are here to make the data make sense for you.

      Please contact us on +267 7187 0023 or research@easternman.co.bw for consulting or to join our free research WhatsApp group

      Navigation

      • Home
      • News
      • Economy
      • Columns
      • Companies & Markets
      • In Business With
      • Lifestyle
        • Motoring
      • Sports
      • Subscribe

      Recent News

      • March 24th Edition
      • March 17th Edition
      • NBFIRA Intervenes in BOPEU’s Controversial Insurance Deductions
      • The Sweet Nostalgia of The Goodiebag Factory
      • Wild Waters in the Blood: Nkashi Demystifies Poling

      Site

      • About
      • Advertise
      • Privacy Policy
      • Cookie Policy
      • Contact
      • Subscribe
      • E-edition

      © 2021 The Business Weekly & Review. All Rights Reserved.

      No Result
      View All Result
      • Home
      • News
      • Economy
      • Columns
      • Companies & Markets
      • In Business With
      • Lifestyle
        • Motoring
      • Sports
      • Subscribe

      © 2021 The Business Weekly & Review. All Rights Reserved.

      Welcome Back!

      Login to your account below

      Forgotten Password? Sign Up

      Create New Account!

      Fill the forms below to register

      All fields are required. Log In

      Retrieve your password

      Please enter your username or email address to reset your password.

      Log In
      This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
      Are you sure want to unlock this post?
      Unlock left : 0
      Are you sure want to cancel subscription?