Author

Mbongeni Mguni
Financial Journalist

Twitter: @MboBW

Email: [email protected]
  • NBFIRA licences Yellow Card exchange

    In a notice on Tuesday, the Non-Bank Financial Institutions Regulatory Authority (NBFIRA) said it had issued a licence to Yellow Card Botswana, the African exchange’s local unit.Under the Virtual Assets Act, passed in February, any operator...

  • BBS expects commercial banking launch by June 2023

    In a statement accompanying the group’s results for the half year ended June 30, directors said BBS Ltd was finalising approval of its commercial banking licence with the Bank of Botswana (BoB).The group previously declared a closed period from...

  • Letshego calls EGM to cut directors’ pay

    An Extraordinary General Meeting (EGM) on the matter is due to be held on October 25 in Gaborone.The homegrown group, which boasts a presence in 10 other African countries, has seen its share price fall by a net of nearly eight percent since January,...

  • Councils look to PPPs as gov’t funding dries up

    As the primary interface between government and communities, various local authorities across the country, particularly in rural areas, shoulder a huge burden of expectations.However, as part of its belt-tightening exercise, the Finance ministry...

  • Africa vs Africa: Inside the latest challenge to ivory trade

    The often-repeated allegations of expensive flights, fancy dinners, gifts and bribes paid by influential NGOs to African delegates in exchange for support against ivory trade proposals are resurfacing ahead of the key Convention on International...

  • BOCRA handholds operators for 5G rollout

    In a response to Business Monitor enquiries recently, the regulator revealed that it had allocated 5G radio spectrum to the country’s three mobile operators although thus far, only one has launched the advanced connectivity.Mascom, the country’s...

  • SADC moves to new phase in Moz war

    While the situation remains “volatile and unpredictable,” Defence and Security ministry officials said the multi-dimensional approach would be used alongside the military in calmer areas, while forces remained on high alert.Since their deployment...

  • US dollar strength threatens pump price recovery

    On Wednesday the dollar, the currency in which global oil is transacted, reached P13.42 according to the Bank of Botswana website, possibly an all-time high according to available records.The peak came after weeks of strengthening during which the US...

  • Citizens to get share in Tshele Hills project

    The long-awaited project is being done as a Private Public Partnership (PPP) and the winning bidder will be required to set up a Special Purpose Vehicle (SPV) to enter into agreements with the Ministry of Minerals and Energy and Botswana Oil...

  • New deal raises RDC Properties’ profits 180%

    RDC Properties closed the P980 million purchase of the Tower Property Fund on December 28 last year in a deal that added 46 properties located in South Africa and Croatia to the local group’s portfolio.The deal ballooned the group’s investment...

  • Diamonds’ sweet spell from Russian sanctions could sour

    On Thursday, Statistics Botswana released second quarter Gross Domestic Product figures showing that the economy expanded by 5.6 percent over the period, helped by diamond trading activities, as global industry demand continued to warm up.In fact,...

  • Suitors court Shumba’s coal

    While Shumba’s leases are estimated to hold about 4.5 billion tonnes of coal, the company in recent years has shifted its priorities to developing renewable energy initiatives, including a 100MW solar plant near Tati. This week, Shumba directors...

  • Debswana’s power move to shake mining landscape

    Debswana’s recent move to establish its own mining services firm carries echoes of a decision four years ago by one of its shareholders, De Beers, to enter the synthetic diamonds industry, analysts say.By investing millions of US dollars into...

  • Budget to return to first surplus in eight years

    Ministry of Finance technocrats expect the budget to return a P355 million surplus in the 2024–25 financial year, the first in eight years and a break from a series of deficits that ran down savings and increased government debt.According to the...

  • Business Botswana pushes 50% cut in fuel taxes

    The proposals are contained in a lengthy submission to the Ministry of Finance, which this week kicked off consultations for the 2023–24 budget.Business Botswana representative, Joseph Willie told a Budget Pitso held on Tuesday that the lobby group...

arrow up