Botswana pays De Beers P1 billion to cut debt

The government of Botswana has paid P1 billion (US$150 million) to De Beers as part of a rights issue commitment principally agreed on last year.

De Beers last year embarked on the US$1 billion rights issue  together with a capital refinancing that  has resulted in the reduction of its US$3.89 billion debt with several lenders by about a third.

Government has a 15 percent stake in De Beers making it liable to pay the same percentage of the rights issue, while Anglo American Corporation and the Oppenheimer family hold a 45 percent and 40 percent stake respectively.

Editor's Comment
Congratulations Anicia Gaothuse!

The contest had 10 beautiful young girls as finalists and unfortunately only one could wear the crown.The judges picked Anicia Gaothuse. To all those who feel their contestant should have won ahead of Anicia for whatever reason, hardly; the judges found Anicia to be the best among the best, so desist from disrespecting our newly crowned queen on social media or anywhere else, for that matter! Each of the 10 beautiful young women had supporters...

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