Author

Mbongeni Mguni
Financial Journalist

Twitter: @MboBW

Email: [email protected]
  • Govt cuts parastatal, council funding to reduce budget deficit

    The country’s public finances have run at annual deficits since the 2016-2017 financial year, a situation worsened by the COVID-19 pandemic which forced the erosion of reserves housed in the Government Investment Account.Delivering her maiden...

  • Sefalana exits R250m SA investment

    Sefalana invested R250 million in the Fast Moving Consumer Goods (FMCG) consortium in July 2017 with an agreement on fixed annual earnings and the option to convert the investment into a 30% equity stake after five years.In a commentary accompanying...

  • Crypto Bill passes with rare bipartisan support in Parly

    The Bill now awaits President Mokgweetsi Masisi’s assent to pass into law, as required by the Constitution.The new Bill expands the Non-Bank Financial Institutions Regulatory Authority’s (NBFIRA) mandate to include licensing providers of virtual...

  • Budget boost as diamond sales hit records

    BusinessWeek can reveal that state-owned diamond trader, Okavango Diamond Company (ODC) also sold $963 million (P11.1 billion) worth of rough diamonds in 2021, an all-time high for the 10-year-old company. Debswana sells 25% of its production to ODC...

  • Could interest rates be raised for the first time in 14 years?

    Local asset management firm, African Alliance, believes interest rates could rise by as much as 100 basis points this year, the equivalent of one percentage point, a major jump particularly given that the central bank has been lowering interest rates...

  • Cattle ranchers want more freedom as live exports near P1bn

    The perennial tussle between cattle producers and the Botswana Meat Commission (BMC) revolves generally around the prices offered by the meat parastatal to farmers and the time the Commission takes to settle payments.However, farmers over the years...

  • BoMRA alerts on hepatitis reaction from COVID-19 vaccines

    The local regulatory watchdog was quick to stress that no cases had been reported in Botswana and encouraged healthcare professionals to be vigilant in identifying and treating any signs of the autoimmune hepatitis.“Recently, European Medicines...

  • Ghaghoo Mine sale hits obstacle

    Okwa Diamonds, owned 10% by Botswana Diamonds (BOD) with the balance held by VAST Resources, announced its plans to take over Ghaghoo last August from Gem Diamonds.The operation, which was the country’s first underground diamond mine, was placed...

  • Tricky times ahead for the vaccine hesitant

    Letshego Holdings, the country’s largest microlender employing 148 people across 16 branches in Botswana, has become one of the first companies locally that have requested workers to get vaccinated or stay away from the office.“Letshego has made...

  • No more blood to squeeze from these stones

    Thanks to the increases in various administered prices last April, inflation, or the rate of increase in the prices of goods and services, has been trending at nine-year highs, effectively slapping many commodities out of the hands of...

  • New US COVID-19 vaccine eyes Botswana licensing

    Dubbed “the world’s COVID-19 vaccine” the new vaccine technology was developed by researchers at Texas Children’s Hospital and Baylor College of Medicine led by Drs Maria Elena Bottazzi and Peter Hotez.The new vaccine uses traditional...

  • Tlou Energy starts talks on crypto mining

    Crypto mining is the process by which new cryptocurrencies such as Bitcoin are created and introduced into the global network. The mining involves the installation of powerful and large networks of computers that compete with others globally to solve...

  • Gov't targets P2bn in latest debt funding bid

    The BoB, as government’s banker, conducts monthly auctions of treasury bills as well as bonds to primary dealers who are exclusively banks.At the auctions, the dealers compete to lend to the government by offering the yields they are seeking, with...

  • Botswana secures all 4.7m vaccines purchased

    The 4.7 million doses include two million from Pfizer, 1.35 million from Johnson & Johnson, as well as 500,000 from Moderna. Other suppliers include AstraZeneca, Sinovac and COVAXIN.The purchases began early last year through bilateral arrangements...

  • Richest 1% in Botswana earn 20 times the national average

    The World Inequality Lab’s database released this week features an interesting tool that allows users to gauge where their income lies in their country’s overall picture. According to the tool, to be in the top one percent of income earners in...

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