Author

Brian Benza
  • BCL closure dents economic growth

    The BCL and Tati mines were closed in October last year, and there has been no copper nor nickel production in the country since then. Figures released by Statistics Botswana show that apart from the mining and manufacturing sectors, all other...

  • BDC borrows P131m to finance new projects

    BDC has used its shares in Cresta, Letlole La Rona and  Sechaba as security for the issued bonds after it failed to secure a government guarantee on the bond in September last year. Listing of the issued notes has been approved by the Botswana...

  • Letlhakane uranium mine project deferred

    Construction of the mine was expected to start in 2018 after A-Cap Resources was awarded a 22-year mining licence in September 2016. In a statement, the Botswana Stock Exchange (BSE) listed company said the deferment has been triggered not only by...

  • Liquidity levels shoot as BoB rectifies data error

    A bank’s liquidity refers to its ability to meet all anticipated obligations such as funding loans or debt payments using available funds without having to liquidate other assets. The recently released Botswana Financial Statistics (BFS)...

  • Botswana operations not affected by SA scandal – KPMG

    In a statement, Dixon-Warren said it was business as usual at the Botswana office, where the company is involved in high profile works such as the liquidation process of BCL Mine as well as KFC Botswana. “Stakeholders of KPMG may understandably...

  • Botswana Life CEO quits

    Botswana Life recently released lukewarm results for the half-year ended June 2017, which were characterised by reduced premium income and declining values of new business.  In a statement released yesterday, parent company, BIHL announced that...

  • Gov’t seeks first right to ‘historic’ diamond finds

    A recently gazetted draft Bill for amending the Precious and Semi-Precious Stones Act contains a new clause that compels any producer that comes into possession of an unusual rough or uncut diamond to notify the minister within 30 days following...

  • BCL moves to liquidate Pula Steel

    BCL, which is the majority shareholder in Pula Steel, is also the biggest creditor of the steel making company, which is currently under judicial management.  Provisional liquidator of BCL, Nigel Dixon Warren told BusinessWeek that following...

  • Boardroom feuds push Pula Steel to the brink

    BusinessWeek has learnt that the founding shareholders of Pula Steel, the Verma Family, have asked the High Court to relieve the company’s judicial manager, Vijay Kalyanaraman of Grant Thornton of his duties saying he has contributed to the...

  • BPOPF-backed fund buys Lobatse Clay Works

    As BDC continues to divest some of its subsidiaries, BusinessWeek has learnt that the Botswana Opportunities Partnership (BOP), a private equity fund in which the BPOPF has invested P830 million, is buying an 80% stake into the Lobatse-based bricks...

  • BPOPF buys major stake in Airport Junction Mall

    BPOPF chief executive officer, Boitumelo Molefe told Mmegi Business yesterday that the acquisition brings the value of their property portfolio to almost a  billion pula. “Our strategic allocation for the property sector is at P1.4...

  • BPOPF hands P1.5bn to start-up fund managers

    Under its incubation programme, mooted last year, the BPOPF has identified three greenfield companies to be financed from its P55 billion kitty with two involved in private equity while the other will trade in the listed equity space. Addressing the...

  • Gov’t issues pioneering gas mining licence

    Emerging junior energy company, Tlou Energy this week announced that a mining licence for its Lesedi CBM project has been granted by the Department of Mines paving way for the development of Botswana’s first gas to power station. Apart from a...

  • BBS investors to get P75m shares windfall

    Aside of the free shares, qualifying members will also convert their investments or deposits in the society into shares with each investor limited to a maximum 15% shareholding in BBS Limited. According to a prospectus for the BBS demutualisation...

  • Botswana can be regional financial hub – IMF

    In a country report released this week, the IMF said developing a regional financial hub can contribute to private sector development as it could adapt its services, regulation, and infrastructure to make investment by foreign investors easier and...

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