Business

Business Briefs

 

Debswana Pension Fund buys stake in Puma

The Debswana Pension Fund has acquired a 10% stake in Puma Energy Botswana. A signing ceremony to mark the sealing of the deal will be signed in Gaborone today. DPF is the largest pension fund in Botswana outside the public officers pension fund. Puma Energy, which took over from BP Botswana in 2010, is one of the leading oil companies in Botswana with lucrative commercial customers such as with Debswana, BCL, BDF, and Central Transport Organisation (CTO).

 

Trade balance in surplus

Botswana recorded a trade surplus of P2.9 billion in the month of June 2014 as exports outweighed imports. In June 2014, total exports were valued at P6,6 billion, an increase of 27.7 percent from the May 2014 revised value of P5.2 billion. According to figures released by Statistics Botswana, 85.8 percent of the exports was attributed to exports of diamonds. The diamond trade is for both rough and polished diamonds. In the month, total imports were valued at P3.7 billion, showing a decrease of 11.8 percent from the revised May 2014 value of P4.2 billion. When annualising total import figures, June 2014 imports value decreased by 8.4 percent from the June 2013 value of P3.9 billion. Composition of imports by principal commodities for June 2014 shows that fuel contributed the highest to total imports at 21.7 percent representing P795 million, followed by machinery & electrical equipment with 15.9 percent (P579.6 million).

 

Liquidity improves on BSE

The introduction of Automated Trading System (ATS) has greatly improved liquidity on the Botswana Stock Exchange (BSE) with the average daily turnover for 2013 rising 159 percent to P9.3 million per day. In 2012 turnover stood at P3.6 million and P4.1 million in 2011. The volume of shares traded in 2013 was a record 710.5 million in comparison to 409.9 million in 2012 and 458.7 million shares in 2011. According to the BSE 2013 Annual Report, the main contributors to turnover in 2013 were Letshego and Choppies. In the report, the BSE welcomed the anticipated listing of the Botswana Telecommunications Corporation (BTC) and the National Development Bank (NDB) saying this will not only promote citizen economic empowerment but also add to an increase in market capitalisation and liquidity of the BSE and deepen the capital market.

 

BOD confirms Orapa Kimberlite

Two boreholes drilled as part of a recent exploration campaign at BSE-listed Botswana Diamonds’ Orapa diamond project have intersected intensively altered, cracked and brecciated rocks composing veins likely to be of kimberlitic origin. Another two holes drilled by Sunland Minerals, the 50:50 joint venture company owned by Botswana Diamonds and Alrosa, did not reveal the presence of kimberlites. “The discovery of kimberlite-type material in holes 3 and 4 is very encouraging. This is the first time that Alrosa exploration technology has been applied in Botswana and these results support its use. We will now refine the model,” noted chairperson John Teeling, who added that the exploration programme was ongoing. BOD reported last month that a seven-person geological team from Alrosa had arrived in Botswana, where they would work with Botswana Diamonds on an exploration programme on licences in the diamond province of Orapa.

 

BTCL Pitso in Francistown

The Ministry of Transport and Communications (MTC), Public Enterprises Evaluation and Privatisation Agency (PEEPA) and Botswana Telecommunications Corporation Limited (BTCL) will today hold an awareness Pitso to sensitise stakeholders about the pending Initial Public Offer (IPO) of BTCL shares in Francistown.  The BTCL IPO, which has been scheduled for Friday 7th November 2014, will see government offering a total of 49 percent of BTCL shares.  According to BTCL, 44 percent of these will be available for purchase by citizens and citizen companies, and the remaining 5 percent will be retained for BTCL employees through an employee share ownership programme. A similar Pitso was held in Gaborone this week.