Author

Mbongeni Mguni
Financial Journalist

Twitter: @MboBW

Email: [email protected]
  • Absa sees local growth reaching 12.5%

    Should Absa’s expectations be realised, the 12.5% growth will be the highest the country has recorded since 1989 when the economy expanded by 13.1%.In a recent research note, the bank’s analysts attributed their estimates to a strong rebound...

  • Gov't moves closer to sealing African trade deal

    Botswana is one of 13 countries left on the continent that are yet to ratify the AfCFTA deal sealed by countries on the continent in 2018 in Rwanda. While Botswana signed the text of the 2018 agreement together with the majority of the continent, the...

  • Phikwe dares to dream again as billions pledged in BCL deal

    Last week, the High Court approved the takeover of certain key assets from the copper and nickel mine by Premium Nickel Resources Botswana (PNRB), a firm headed by former BCL boss, Montwedi Mphathi. PNRB is wholly owned by Premium Nickel Resources, a...

  • Choppies expects higher profits

    In a notice to investors this week, directors said this percentage translates to pretax profits of as much as P139 million for the half year to December 2021, compared to P88 million for the previous corresponding period.After-tax profits for both...

  • Fuel prices push inflation to 13-year high

    Inflation, which is the rate of increase in the prices of goods and services, was recorded at 8.7% in December 2021.However, the level of inflation in December did not include an increase in fuel pump prices, which were raised by as much as P1.75 on...

  • ODC optimistic over 2022 outlook

    Last week, BusinessWeek revealed that ODC sold $963 million (P11.1 billion) worth of rough diamonds in 2021, up 367% from 2020 and representing an all-time high for the 10-year-old company. Debswana sells 25% of its production to ODC and the balance...

  • Finance ministry eyes balanced budget next year

    The country has been running annual deficits in its budget since the 2016 -2017 financial year, with the shortfall peaking at P16.4 billion in 2020-2021, worsened by expenditure on the COVID-19 response. The situation over the years has drained...

  • One in five households is ‘multidimensionally’ poor

    While the leading indicator of poverty is monetary income, global experts are increasingly studying the different dimensions of hardship to better guide policies and interventions.Ten years after the University of Oxford and the United Nations...

  • Proof of vaccination to be required for all arrivals in Botswana

    According to the revised Public Health Order issued this afternoon, proof of a negative PCR test taken 72 hours before arrival at the border will no longer be a requirement for fully vaccinated arrivals into the country.The order reads:A person who...

  • Ten highlights of the 2022 Budget Speech

    Deficit declinesAccording to the figures shared by Serame, the deficit in 2022-2023 is forecast to reach P6.98 billion, a significant reduction from the P10 billion expected for 2021-2022 and the massive P16.4 billion recorded in 2020-2021.Revenues...

  • 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...

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