Author

Mbongeni Mguni
Financial Journalist

Twitter: @MboBW

Email: [email protected]
  • Uproar as Botswana Oil takes over fuel imports

    BOL, the state oil company, has been angling for a dedicated quota for years, under which it would exclusively import most of the 1.2 billion litres of fuel consumed in the country every year, and resell this to retailers such as Engen, Total, Puma,...

  • Mobile money usage explodes

    In its Financial Access Survey released last Tuesday, the IMF said the number of mobile money accounts per 1,000 adults had grown from 1,115 in 2017 to 2,973 in 2022.The growth in mobile money usage is also clear in the value of mobile money...

  • BMWU appeals Khoemacau judgement

    The Union and mine management differed over a formula to be used for overtime at the mine.The BMWU had argued that the monthly calculation of how much overtime shift workers are entitled to, should be based on average working hours over two weeks and...

  • Absa lists BSE’s first green bond programme

    The development is a triumph for the BSE, which has been advocating for sustainability issuances and last year offered a 25% discount on listing fees for issuers.By listing its note programme, Absa Bank Botswana is now in a position to regularly...

  • Greedy contractors inundated ministry’s headquarters – Molale

    Transport and Public Works minister, Eric Molale said while the evaluators were hidden away, greedy contractors inundated the ministry’s headquarters hunting for their whereabouts.“We holed them up at some place outside Gaborone for three weeks...

  • BTCL ropes in Pheko

    Pheko, who has been a non-executive director at BTCL since 2018, was appointed interim chair last Tuesday to replace Boakgomo-Ntakhwana.Pheko was the founding CEO of the Botswana Communications Regulatory Authority (BOCRA), having led its...

  • Lucara execs leave, HB founder returns

    The development comes five days after Lucara's new CEO, William Lamb, announced the termination of the miner's 10 year agreement with HB Antwerp under which the Belgian firm buys, polishes and sells Lucara's rough diamonds.In yet another...

  • ODC sales drop 60% as diamond downturn deepens

    The figures come as India – which cuts and polishes at least 80% of the world’s rough diamonds – announced on Wednesday that it is banning imports of the stones for two months in order to “better manage the balance between supply and...

  • Lucara exit throws HB, gov’t deal in limbo

    Lucara, which represents HB Antwerp’s principal client, terminated its deal with the Belgian firm in the early hours of Thursday morning (local time) citing “a material breach of financial commitments” by HB. A few weeks ago, HB was rattled by...

  • Govt formalises deal with De Beers

    The deals signed on Saturday afternoon, known as heads of terms, follow an agreement in principle reached between the two sides on June 30, which came after five years of increasingly tense negotiations. At the tail end of the talks, President...

  • Diamonds enter make or break period for 2023

    Traditionally in the diamond industry, the period between Thanksgiving in the United States and the Chinese New Year, represents the peak retail selling period every year.Healthy demand for diamond jewellery and stones in key markets such as the US...

  • KGK to produce diamond jewellery with Mupane’s gold

    The firm, a subsidiary of the iconic 118-year-old Indian group, opened its doors in Botswana in 2014 with a focus on cutting and polishing rough diamonds, before launching its jewellery plant in January this year.From 45 employees at inception, KGK...

  • Pension funds rebound in H1

    Pension funds, which are predominantly invested offshore, endured a trying 2022 with much of the losses associated with downtrends in global giants such as Meta, Apple, Amazon, Netflix, and Google, the global tech giants.The situation was mirrored at...

  • Pension funds rebound in H1

    Pension funds, which are predominantly invested offshore, endured a trying 2022 with much of the losses associated with downtrends in global giants such as Meta, Apple, Amazon, Netflix, and Google, the global tech giants.The situation was mirrored at...

  • Data Protection Act grace period extended

    While the law came into effect in October 2021, individuals and entities handling personal data were given until a year's grace period to comply with the requirements to ensure the protection of this data.The grace period was extended to...

arrow up