Author

Brian Benza
  • IMF bullish on Botswana growth prospects

    In a country report released this week, the IMF said following a downturn in 2015, annual gross domestic product (GDP) growth is expected to gradually increase to 4.8% by 2018, supported by a recovery in the diamond market and moderate fiscal...

  • Sinohydro backs out of P92m suit against govít

    The dispute arose after the government terminated Sinohydro’s contract in July 2012 for ‘failing to complete the expansion of the airport within stipulated time frame and cost estimates’. As a result of the delays, government...

  • RMB, Investec swoop on Choppies-related firms

    The 10 companies, housed under the name Kamoso Distribution were two years ago sold by Choppies directors, Ramachandran Ottapathu and Farouk Ismail to a consortium led by Standard Chartered Private Equity (PE) in a deal worth P452 million. Under the...

  • Govít seeks compromise deal with Russians

    Norilsk Nickel has sued  the government over a failed deal in which  BCL Mine was to buy the Russian company’s 50% stake in the Nkomati Mine. The Mineral Resources, Green Technology and Energy security Minister Sadique Kebonang told...

  • Morupule land dispute to cause P200m per month losses

    MCM is locked in a dispute with six of the 166 farmers who hold land rights to the area that the company intends to build a new 1.35 million tonnes per annum coal mine to feed into the planned 300MW power station at Morupule B (Unit...

  • Mynhardtsí P456m deal breaks BSE records

    The deal, which ensured lucrative spin-offs in  commissions for stockbrokers, constituted 94% of the P484.6 million worth of trades registered on the bourse on Wednesday. Before the deal, the Mynhardt family owned 325 million shares in NAP,...

  • Debswana output jumps on market recovery

    Output figures provided by parent company, Anglo American yesterday show that Debswana production increased by 14% to 5.9 million carats when compared to the same period in 2016.  “Orapa’s production increased by 44% driven by the...

  • NBFIRA Closes Insurance, Medical Aid Firms

    In three separate statements, NBIFRA said they had temporarily closed insurance company, Phoenix Botswana while two medical aid companies; Botsogo and Itekanele have also been provisionally shut. “Members of the public are informed that...

  • Shareholder power play at Pula Steel

    Ahead of today’s deadline for the three shareholders, Verma family, Citizen Entrepreneurial Development Agency (CEDA) and Wealth Generations, to raise the funds through equity and debt injections, Mmegi BusinessWeek has gathered that the Indian...

  • ODC sales rise 9% to P3.1 bn

    ODC deputy managing director, Marcus ter Haar told Mmegi BusinessWeek that the company held five   auctions since January in which 1.8 million carats of diamonds were sold.  The volumes of carats sold were marginally higher (three...

  • Govít slashes aviation fuel prices

    According to the latest Government Gazette, the price of Jet A1 has been reduced to P7 in Gaborone from P9.20 while prices in Francistown and Maun have also been reduced by 20% to P7.37 per litre and P7. 76 respectively. The government says the...

  • Asian giants bid for rural solar power tenders

    BPC has invited bids from independent power producers (IPPs) to set up 20 mini hybrid power stations in isolated villages as part of plans to boost electricity access.  According to information released on the power utility’s website,...

  • BCL closure slows economic growth

    Although the economy’s new driver, the services sector continued to perform well, it was the 28.9% decrease in the real mining value added that largely slowed economic growth. BCL’s closure also affected coal production with Morupule...

  • Sale of KFC franchise back on track

    KFC was placed under final liquidation by the High Court in September last year but the process to sell the franchise was stalled after VPB proprietor Anthony Siwawa lodged an appeal against the judgement. KFC liquidator Nigel Dixon-Warren of KPMG...

  • New fuel tax introduced

    Minerals Resources, Green Technology and Energy Security minister, Sadique Kebonang said Cabinet has approved the fuel levy, which will kick in on July 1, 2017.  The new tax will be in addition to the current fuel levy of 13.5 thebe per litre....

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