Author

Mbongeni Mguni
Financial Journalist

Twitter: @MboBW

Email: [email protected]
  • Ghaghoo Mine faces final closure

    Since February 2017, Ghaghoo Mine has been on care and maintenance activities which entail keeping the mine's infrastructure in prime condition in preparation for a possible reopening.However, after prioritising a sale of the mine last year and...

  • Pension withdrawal debate: NBFIRA focuses on old-age poverty

    For the Non-Bank Financial Institutions Regulatory Authority (NBFIRA), the question of what a pension fund and what it does, is crystal clear.“A pension fund provides for financial stability after you stop working, by providing a stream of income...

  • Bank profits reach P2.7bn in 2022

    Previously, the highest after-tax profits the banks enjoyed was in 2018 at P2.02 billion. Bank of Botswana (BoB) figures released last week indicate that the collective net interest incomes of commercial banks rose to P5 billion last year from P4.4...

  • Okavango Blue set to finally go on sale

    The 20.46-carat blue diamond was unearthed at Debswana’s Orapa Mine in the third quarter of 2018. It drew comparisons with the world-famous Hope Diamond, although the local stone has a higher purity and clarity level.The Okavango Blue is expected...

  • BMC, Air Botswana, BotsPost default on P618m gov’t loans

    According to the Auditor General’s latest report, which covers the year to March 2021, BMC owed government P248 million while the national airline was on the hook for P230 million and BotswanaPost P140 million.In all three instances, the loans were...

  • DPF eyes infrastructure as pension assets overhaul nears

    Known as the Pension Fund Rule 2 or PFR 2, the Non-Bank Financial Institutions Regulatory Authority (NBFIRA) statute at the moment requires pension funds to invest at least 30% of their assets locally.Under changes to the Retirement Funds Act, local...

  • Inflation slows further

    Statistics Botswana figures released earlier today show that the reduction in annual inflation between January and February was largely due to base effects related to price increases in February 2022.In an update, Statistics Botswana noted that major...

  • De Beers’ sales reach P6.7bn

    The performance for the second auction of the year is however 24% lower than the values sold at the corresponding auction last year, a trend that largely reflects stronger than average pricing and demand last year. New CEO, Al Cook said demand...

  • Grit to exit Letlole la Rona

    Grit, a Mauritius-domiciled entity with roots in London, at one point was the second largest shareholder in LLR with 30% equity, second only to the founding shareholder, the Botswana Development Corporation (BDC) with 40%. However, the real estate...

  • Minergy indefinitely suspends operations at Masama

    The decision announced on Tuesday evening came as the more than 300 workers employed by mining contractor, Jarcon Opencast Mining Botswana, downed tools at the mine ahead of a retrenchment planned to take effect on March 31."As with many...

  • SACU expects to avoid SA greylisting spillover

    The Financial Action Task Force (FATF), the world’s leading anti-money laundering organisation, recently greylisted South Africa citing deficiencies in the country’s ability to prevent the flow of dirty money in its systems. The FATF greylisted...

  • Mascom's market share eases

    According to figures released by the Botswana Communications Regulatory Authority (BOCRA), Mascom’s share of mobile phone subscriptions in the country slid to 43% in the year to March 2022, compared to a five-year peak of 55% in the year to March...

  • Minergy indefinitely suspends operations at Masama

    CEO Morne du Plessis confirmed the latest developments in a statement released this evening. The move will affect more than 300 workers employed by mining contractor Jarcon Opencast Mining Botswana."As with many businesses, when structural...

  • Inside the multipronged fight to boost implementation

    Finance Ministry Peggy Serame wants to be clear that she is not “naming or shaming,” but “indicating performance,” as she shares a summary of how the various ministries have thus far spent their development budget allocations for the 2022/23...

  • Masama Mine workers down tools

    Jarcon Opencast Mining Botswana, which has conducted mining operations for Minergy since 2019 when Masama Mine began operating, is reportedly owed tens of millions of pula by the Botswana Stock Exchange-listed company for its services.Jarcon has...

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