Author

Mbongeni Mguni
Financial Journalist

Twitter: @MboBW

Email: [email protected]
  • Rapaport raps Belgium’s diamond industry ‘claw back’

    Botswana and other African producers are unhappy over the G7’s plan which states that from September all polished diamonds should be routed through Antwerp for certification that the stones are not of Russian origin. A G7 team that was in the...

  • Tlou completes 100km line

    The project effectively connects Tlou’s planned generation to the national grid, enabling the Botswana Stock Exchange-listed company to supply the 10MW it has been engaged to do by the BPC to provide to the country.In an update to investors on...

  • Giyani finalises P354m package for Kanye manganese project

    In a market update this afternoon, Giyani officials said the company had secured $10 million (P136 million) in funding from ARCH Sustainable Resources Fund LP, a private equity fund focused on “strategic, long-term investments in natural resources...

  • World Bank sees rosier 2024 for Botswana

    In its latest Global Economic Prospects (GEP) report released last week, the World Bank’s researchers added ten basis points to their June 2023 forecast of Botswana's economic growth for the year 2024.At 4.1%, the projected growth is higher...

  • G7 jets in but diamonds remain in jeopardy

    If the local industry was looking for assurances from the Group of Seven (G7) technical team that was in the country week, then many were sorely disappointed. After wide-ranging consultations in the country this week, including visits to the...

  • Food prices stubborn as inflation eases to 3.5%

    Statistics Botswana figures show annual food inflation dropped from 6.7% in November to 6.1% in December, while inflation associated with transport fell to 1.5% from 2.2%. Annual inflation associated with personal care fell from 8.9% to 7.7%.The...

  • Govt raises P770m debt

    Two Treasury Bills (T-Bill) were offered in the December 29 auction which capped a period in which the central bank has seen declining yields for the notes it has been floating. The three-month bill, which offered P400 million, received bids worth...

  • BOCRA speaks on festive season Internet woes

    Mmegi: As you may have noted, over the festive period, social media was flooded with consumer complaints about poor data and Internet services by the different operators. Did BOCRA receive any formal complaints over this period?Nyelesi: For the...

  • Work starts on Jwaneng underground

    With a total budget estimated at $6 billion, the underground mine at Jwaneng will be the country’s single biggest project ever by value and, according to Debswana, will create the world’s largest underground diamond operation.On Wednesday,...

  • Trade deficit widens to P5.6bn

    Figures released late last month by Statistics Botswana also indicate that the September deficit of P3.9 billion was revised deeper to P4.5 billion. Both the September and the October deficits are the first recorded in 2023 and are directly linked to...

  • The missing links in regional electricity supply

    Establishing regional electricity connections was not always as slow as it has been in recent years. Those who track regional interconnectivity remember the golden years where electricity utilities and their governments steamed ahead with linkages of...

  • Serame named Africa’s Finance Minister of the Year

    According to the magazine, the awards recognise officials that have best managed to stimulate growth and stabilise their economies. The annual awards select outstanding Finance Ministers from across the globe.The Banker’s editors noted that...

  • Pula’s downward crawl maintained at 1.51%

    In a statement, the Finance Ministry said the weighting of the Pula against the basket of currencies would be maintained at 55 percent Special Drawing Rights currencies and 45 percent South African rand. The International Monetary Fund’s Special...

  • In pursuit of the diamond deal

    There was no choice. Having pursued the single biggest story in the country’s economy for the better part of five years, there was really no question of sleeping when matters finally neared a head. That would be akin to travelling 20 hours to the...

  • Gov’t doubles Mmadinare solar contract to 120MW

    The original 60MW plant, to be built between Selebi-Phikwe and Mmadinare by June 2024, was the largest renewable procurement signed off by government. Government and Scatec officials signed a binding 25-year Power Purchase Agreement (PPA) in August...

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