Author

Mbongeni Mguni
Financial Journalist

Twitter: @MboBW

Email: [email protected]
  • New buyer emerges after Pula Steel sale flops

    The developments are the latest in an exhaustive bid to revive Pula Steel, the country’s pioneering steel producer. Pula Steel closed in 2017, just two years after it was built at a cost of P130 million, strained by financial and technical...

  • Food inflation remains stubborn

    Annual inflation dropped to a 35-month low in July at 1.5 percent, from 4.6 percent in June, due mainly to the base effects of higher fuel prices in July last year and the June 20 reduction of pump prices this year.However, annual food inflation was...

  • Synthetics add to diamonds’ difficult year

    Retail and consumer data analytics consultancy, Tenoris, this week released a report that, under normal circumstances, should raise eyebrows in the diamond industry.According to the firm, in July, after months of gradually nearing each other, natural...

  • FNBB expects profit surge

    In a notice to the Botswana Stock Exchange (BSE) on Friday, the bank said its pretax profits for the year ended June 30 are expected to be between 15% and 20% higher, or P180 million to P250 million above the P1.2 billion recorded last year.“The...

  • Letshego mulls share buyback to shore up value

    For a long time the star performer on the Botswana Stock Exchange’s Domestic Companies Index, Letshego’s share price dropped 10% last year and on July 4, sank to 98 thebe, its lowest level in two years.Thus far this year, the pan-African...

  • Foreign reserves near pre-pandemic levels

    Figures provided by the Bank of Botswana (BoB) during a recent media briefing indicate that while the reserves are recovering, they are still below the healthier levels seen in the years before the onset of the COVID-19 pandemic.As measured by months...

  • Moody’s gives diamond deal a thumbs-up

    As a wholly state-owned entity, the BDC’s credit rating is linked to government’s own outlook and the related forecasts around the country’s economic performance. In a recent update, Moody’s said the country’s economy was now projected to...

  • Lucara’s finds +1,000 carat white diamond

    Type IIa diamonds are quite rare making up one to two percent of all natural diamonds and sourced from extreme depths of the earth’s mantle. The diamonds are almost or entirely devoid of impurities, making them of high value in the market.In a...

  • Budget deficit swings to surplus but...

    However, the main contributor to this surplus is the underutilisation of the development budget across various ministries, the latest data from the Finance ministry shows.While higher-than-expected mineral revenues did contribute to the modest...

  • Ministries trip up in the first lap

    In February, shortly after the announcement of the 2023-2024 budget, Mmegi published ‘The Difficulty of Spending P13bn in a Year,’ discussing government readiness to utilise their yearly allocation.The P12.7 billion set aside for infrastructure,...

  • BoB’s voice in the wilderness hits home

    Each year, the Bank of Botswana (BoB) carefully selects a theme topic for its annual report and for several years, the central bank has hammered home the ever increasing need to change the direction of the country’s economy.The BoB is...

  • It’s a G-thing, US mega investors say

    Last December, I joined hundreds of delegates at the US Africa Leaders’ Summit called by President Joseph Biden and attended by more than 40 African heads of state, together with their private sectors. Stemming from that engagement, 75 new deals...

  • Mohembo Bridge wins international recognition

    At 1,161 metres, which exceeds the Kazungula Bridge by 238 metres, the Mohembo Bridge not only holds the record as the nation's longest bridge at present but also maintains its position for the foreseeable future, with no plans for a longer...

  • Bifm property targets P2bn

    Giving an update on the Fund recently at Bifm’s annual seminar, Botlhe Tshukudu, Bifm’s Portfolio Manager for Unlisted Investments, said investments had slowed down during the COVID-19 era due to significant risks in the market such as depressed...

  • BR, Transnet finalise plans for P3bn railway

    The Mmamabula-Lephalale railway line has been in the works since at least 2011 and the delay in its construction has frustrated developers along the country’s eastern coalfields.The link, which will run for about 113 kilometres from Mmamabula to...

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