Author

Brian Benza
  • Lerala Mine strikes lucrative offtake deal

    The company said yesterday that its subsidiary Lerala Diamond Mine had conducted a tender for its diamonds in late September, with the winning bidder entering into an offtake agreement for all diamonds produced at the mine for a six-month...

  • Barclays assures markets on BCL P1bn loan

    In a statement, the bank said all the corporate exposures to the BCL Group are fully secured. “Barclays remains sufficiently liquid, well capitalised and we continue to execute our strategy in the market through the delivery of innovative...

  • SADC-EU trade deal kicks in

    As of Monday, the agreement will apply to trade between the EU and the five countries including Lesotho, Namibia, South Africa and Swaziland. Mozambique is in the process of ratifying the agreement and will join in as soon as the ratification...

  • Investors bemoan govt�s decision on Morupule B tender

    Government says it is currently in negotiations to use the direct appointment method to engage a joint venture between two South Korean firms, KEPCO and Daewoo, to construct Unit 7 and 8 at Morupule B. In a statement, the Botswana Stock Exchange...

  • Economic growth slows on sluggish mining

    On a year-on-year basis, growth was, however, stagnant as the economy grew at the same rate as the one recorded in the same quarter of 2015. “The slow growth in real GDP was attributed to real mining value added, which decreased by 13.8% in the...

  • Trade balance swings into deficit

    According to figures released by Statistics Botswana, a trade deficit of P175.9 million was recorded in July from a surplus of P2.6 billion the previous month. Total exports were valued at P5.1 billion in July 2016, showing a decrease of 40% from the...

  • �eating diamonds� will no longer anchor growth

    Government has set itself admirable targets of not only graduating to a higher income country status, but has also pledged to weed out the problems of unemployment, poverty, inequality, dependence on government and low household incomes. Latest...

  • Rolling P24bn budget deficits until 2020

    Largely due to a P4 billion rise in development expenditure, government’s spending is expected to outweigh revenues in the 2017-2018 financial year by P6.8 billion or -4.1% of the GDP. Deficits of similar magnitudes are seen until 2019 before...

  • Govt issues first uranium mining licence

    “The mining licence was signed by the Minister of Minerals, Energy and Water Resources, Kitso Mokaila and takes effect from September 12, 2016.  “The grant of the mining licence is a significant milestone for the company, following...

  • Fees dispute stalls KBAL liquidation

    Deloitte’s Max Marinelli resigned as the liquidator of KBAL in March this year after falling out with the creditors, but has now declined to hand over the case to the new liquidator, John Little, before he is paid. On Wednesday, director of...

  • Eastward railway project revived

    At a meeting held in Bulawayo, Zimbabwe last Friday, ministers from the three countries signed a Memorandum of Understanding (MOU) committing them to the Port Techobanine Heavy Haul Rail Project. Zimbabwe’s minister of transport and...

  • Inside the complex web that ran KFC

    Following an urgent petition by First National Bank of Botswana (FNBB) over a P41 million debt, KFC Botswana was placed under provisional liquidation on June 2, 2016 with the provisional liquidator, Nigel Dixon-Warren later determining the...

  • Bid to block KFC�s liquidation fails

    Despite VPB, through its proprietor Anthony Siwawa, putting up a fight to save the business from final liquidation, Leburu pronounced it just and equitable for the operation to be wound up considering that its franchise agreement has been terminated...

  • Window for citizens to buy shares in new mines

    Deputy permanent secretary in the ministry of minerals, energy and water resources, Nchidzi Mmolawa yesterday told a Stanbic Bank Mining and Metals conference that plans to empower Batswana are part of the changes contained in the review of the...

  • Beating the credit growth path to door

    The central bank last Friday slashed the benchmark interest rate by another 50 basis points further pulling down lending rates that were already sitting at record low levels. The sole and well-intended aim of the rate cut is to try and make lending...

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