Author

Mbongeni Mguni
  • Nightclubs to reopen as SOE restrictions end

    Parliament approved President Mokgweetsi Masisi’s request for the SOE last April and subsequently extended it twice. The SOE, which came with accompanying regulations, introduced various business trading restrictions and other limitations to fight...

  • Making millionaires: The thinking behind govt’s Middle- Class Strategy

    Mmegi: What informed the development of the Middle-Class Strategy and when did the consultation on this start?Ministry of Investment, Trade & Industry (MITI): In 2018, the government decided to develop the Strategy for the Development of the Middle...

  • Finance Ministry weighs options for P3bn IMF windfall

    Botswana, along with other IMF member states, received an additional allocation of Special Drawing Rights (SDR) reserves from the IMF on August 23, which the country can access to boost its budget, rebuild reserves or spend fighting COVID-19.SDRs are...

  • BIHL profits drop 24% on higher COVID-19 claims

    'Never seen before' mortality weighed on the returns from Botswana Life, the BIHL group’s life insurance business which is traditionally a key revenue driver, executives told BusinessWeek. Since the onset of COVID-19 last March, the group...

  • Alarm raised as unsolicited funding offers to gov't reach US$40bn

    The Finance and Economic Development ministry is not entirely sure why the offers are coming at the pace they are, but it has a few ideas.“The reasons are not quite clear and some of the proposals were submitted in previous years,” the Ministry...

  • S&P raises Botswana’s outlook to positive on diamond recovery

    In a statement, the agency said the recovery in the diamond sector would underpin the expected economic rebound.The country's main diamond producer, Debswana reported production of 10.7 million carats for the first half of the year, 43% higher...

  • SADC forces seize terrorists’ training base in Moz

    SADC Mission in Mozambique (SAMIM) spokesperson, Major Patrick Mfaladi of the Botswana Defence Force said the offense was launched on September 14 in an area south of the Messalo River in Cabo Delgado province.“The base is believed to be known as...

  • Inflation softens marginally to 8.8%

    However, at 8.8% inflation remains at nine-year highs, a level reflected by the individual movements of prices across the past 12 months.Data from Statistics Botswana on Wednesday indicates that the various indices making up the Consumer Price Index...

  • Botswana’s Earth, Wind and Fire strategy for energy

    From Independence, the country’s electrification has been based on fossil fuels, particularly the coal at Morupule. The strengthening effects of climate change, seen locally in more frequent droughts, as well as the need to keep pace with the...

  • Africa Lighthouse reviews private equity deals for P500m fund

    BusinessWeek has learnt that the opportunities range from sectors such as manufacturing, healthcare, education and real estate to energy and others. The nine-year-old firm, founded by CEO Bame Pule, secured a P500 million private equity mandate from...

  • Govt optimistic of greylisting removal

    The FATF, the world’s leading multinational anti-money laundering agency, placed Botswana on its greylist in 2018 citing deficiencies in its money laundering structures, leading the European Union to place the country on a blacklist in 2019.The...

  • De Beers’ sales robust

    The earnings represent a slight uptick from $514 million in the six auctions and a more than 54% jump from the outcome of the corresponding auction last year.De Beers conducts at least 10 auctions or 'sights' in Gaborone each year, bringing...

  • BTCL revenues reach P1.4bn as mobile data traffic jumps 300%

    The Corporation’s revenues rose one percent to P1.43 billion in the year to March 2021, while pretax profits jumped 19% to P165.8 million.In commentaries accompanying the group’s 2021 Annual Report released today, the directors explained that the...

  • IMF hands Botswana P3bn 'windfall'

    The IMF reserves, known as Special Drawing Rights (SDR) are an international reserve asset created by the IMF to supplement the official reserves of its member countries. Each country has a share of the SDRs and earlier this month, the IMF board made...

  • Inside govt’s plan to create 100 millionaires in 10 years

    Mmegi has established that the strategy has been in the works since at least 2017, developed as a government resolution to enhance citizen participation and empowerment in the economy as well as the growth of the middle class. Information dug up by...

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