Author

Brian Benza
  • Afinitasí pan African venture takes shape

    BusinessWeek: Two years after listing, how has the company grown? Tumelo: You will remember when we listed in 2015, we didn’t have any investments under the company. Soon after listing on the BSE, we bought a 50% stake in Africa Events Limited...

  • CA Sales shares offer oversubscribed

    Announcing the results of the company’s Initial Public Offer, CA Sales yesterday said it received 376 applications totalling 146 million shares for the 136 million shares that were on offer. CA Sales, which will list on the main board of the...

  • Higher BoB revenues pull budget out of deficit

    In the last State of the National Address before he leaves office next year, President Ian Khama on Monday said the final estimates for the 2016/17, government budgets show a surplus of P1.1 billion, compared to a revised budget estimate of a deficit...

  • Vivo Energy acquires KFC Franchise

    The KFC Botswana portfolio, which consists of 12 restaurants, was placed under liquidation in June 2016, after the company failed to service its debts and creditors led by FNBB filed for the company to be liquidated. Mmegi Business yesterday...

  • Botswana slips 11 notches in doing business rankings

    The Doing Business report captures several important dimensions of the regulatory environment as it applies to local firms while providing quantitative indicators on regulation. The regulation indicators range from starting a business, dealing with...

  • Fiscal boost as Debswana output jumps 33%

    Production figures released by parent company, Anglo American this week show that Debswana anchored De Beers’ output for the period, with the resurgent demand prompting an upward revision of 2017 production guidelines. “In the period,...

  • Grand Palm to have new owners

    Peermont Global owns 60% in Peermont Botswana, which in turn runs the Grand Palm Hotel and Casino, Mondior, Metcourt and the casino at Sedibeng hotel in Francistown. In a deal that is currently being examined by the competition authorities in...

  • BoB cuts interest rates to record low

    The rate cut was the first since August 2016. BoB governor, Moses Pelaelo explained that benign forecasts for both local and external inflation as well as a need to support economic activity, had motivated the rate cut. “The current state of...

  • Govít borrows P3bn from bond market

    A budget deficit of P6.5 billion is forecast for the current financial year up from P2.35 billion announced by Finance Minister, Kenneth Matambo in February. With government having ruled out tax increases to finance the deficit, the shortfalls will...

  • KFC franchise finds buyer

    Liquidator of the franchise, Nigel Dixon-Warren told Mmegi Business yesterday that at a meeting held last week, creditors accepted the bid, which will take the company out of liquidation. Dixon-Warren however declined to name the winning bidder...

  • Joblessness to slow poverty reduction - World Bank

    Botswana’s poverty levels, which depicts the number of people living on $1.9 or less per day, currently stands at 12.7%. In a Macro Poverty outlook report released recently, the World Bank projects poverty levels to decline by 0.7 percentage...

  • Jagdish bags P30m in CA Sales shares sale

    CA Sales is selling 136 million shares at P3.45 each to both institutional and individual investors as part of plans that will see the company list on the Botswana Stock Exchange (BSE) on November 8, 2017. The bulk of the shares are being sold...

  • Budget deficits expose Botswana to credit rating downgrade

    The Budget Strategy Paper for the 2018/19 financial year projects the budget deficit for the current financial year to increase from P2.35 billion announced by Finance Minister, Kenneth Matambo in February to P6.5 billion.  The deficit is seen...

  • Choppiesí African offensive: Seven countries and still counting

    BusinessWeek: Your recent results show continued growth in revenues and footfall but net profits seem to continue weakening.  Is this part of the plan? Ottapathu: The continued  rise in revenues and footfall is a clear indication of our...

  • Glencore to buy Caltex after Chinese deal fails

    Chevron operates in Botswana using the Caltex brand name in the retail market operated by a company called Fuel in Motion while its commercial business is run through Kwa Nokeng Oil. In its statement on Friday, Glencore said it had agreed to...

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