Author

Mbongeni Mguni
Financial Journalist

Twitter: @MboBW

Email: [email protected]
  • De Beers, gov’t talks could hinge on Jwaneng

    Industry insiders who spoke to Mmegi this week said the mammoth expansion planned for Jwaneng would become the deciding factor in the final terms of the agreement the two partners are hammering out ahead of their agreed June deadline.Since 2018,...

  • Khoemacau steps up plans for P9.3bn expansion

    Khoemacau, currently the country’s sole producer of copper, put out its first concentrate in June 2021 and has now ramped up to full processing capacity of 3.65 million tonnes per annum, which could yield output as high as 65,000 tonnes of copper...

  • “Greater good” behind VAT zero-rating – Serame

    Besides these products, the ministry plans to zero-rate VAT on cooking oil, Liquefied Petroleum Gas, white bread as well as ginger and leguminous vegetables. Under amendments to the VAT Act due in Parliament soon, a range of agricultural inputs that...

  • De Beers expects Angola to produce next megamines

    For De Beers, “megamines” are typically the size of Orapa and Jwaneng, the two local operations which together produce more than two thirds of the diamond group’s annual output which averages above 30 million carats. Known as Tier 1...

  • Gov’t worst “implementers” exposed

    Earlier today, Finance Minister, Peggy Serame said as at January 31 this year, the four had spent less than 20 percent of their development budgets. The ministries of Minerals and Energy as well as Lands and Water Affairs had used more than 80...

  • Auditor General lambast councils

    Writing in her latest report, which was tabled before Parliament last week, Pulane Letebele found that rates arrears owed to councils had risen to P627.8 million in the 2021-22 financial year, from P548.1 million in 2020-21 and P495.2 million in...

  • De Beers, gov't quell tensions

    Debswana is the producer at the heart of tensions between the state and the global group.Executive Vice-President Diamond Trading, Paul Rowley told Mmegi that the diamond group was not factoring in a possible interruption in supplies as part of risks...

  • BURS sets sights on P61bn tax target

    Generally, mineral taxes anchor the country’s tax receipts but for the 2023–24 fiscal year, the customs union revenues will take centre stage, rising to about P25 billion from P14.4 billion in the current financial year.The latest forecasts are...

  • BoB gives banks free rein on lending rates

    The central bank argues that freeing up the prime lending rates will “facilitate market competition and fair pricing of credit and other lending products,” although the BoB will monitor implementation and “enforce good business...

  • Letlole finalises P53m sale of Moedi House

    In a notice to the Botswana Stock Exchange, LLR directors said a sale deal was being finalised with Shining Sun Investments Proprietary Limited for Moedi House.According to records at the Copyright and Intellectual Property Authority, 51% of the...

  • Govt removes VAT on salt, pads, veggies, cooking oil, diapers

    According to a notice in the government gazette, the Ministry also wants to zero rate agricultural implements and condoms while exempting private health services from charging VAT. The proposed amendments to the VAT Act come after Finance Minister,...

  • Banks set for record profits

    Previously, the highest after-tax profits the banks enjoyed was in 2018 at P2.02 billion.Bank of Botswana (BoB) figures released recently indicate that in the first 11 months of last year, the country’s commercial banks raised their net interest...

  • The difficulty of spending P13bn in a year

    An analysis of the development budget and how it has been spent in the past few years, does little to raise confidence that Finance Minister, Peggy Serame’s proposed allocation of P12.7 billion for projects, will see each and every thebe go where...

  • Acid test for 54-year old marriage

    President Mokgweetsi Masisi’s remarks in his home village of Moshupa on Sunday have set the diamond world buzzing, as they hinted for the first time that the 54-year “marriage” between government and De Beers may not be as rosy as has been...

  • Botswana ratifies pan-African trade deal

    The AfCFTA is the world’s largest free trade area developed under the auspices of the African Union (AU) to enable the free flow of goods and services across the continent. It is estimated that the AfCFTA has the potential both to boost...

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