Mmegi

Gov't budgets P890m for HB deal

Sealing deals: Masisi has said HB has significant upside value and can help the country’s downstream diamond dreams PIC: HB ANTWERP
Sealing deals: Masisi has said HB has significant upside value and can help the country’s downstream diamond dreams PIC: HB ANTWERP

The Finance ministry is setting aside P890 million for the deal to purchase a 24% equity stake in HB Antwerp, draft budget estimates published on Tuesday indicate.

While Finance Minister Peggy Serame revealed on Monday that the HB deal was one of three strategic acquisitions government was budgeting for in the 2024–2025 financial year, she did not give specifics of the amounts involved.

However, the draft budget estimates published indicate that government intends to pay P890 million or $65.1 million for the stake in the Belgian diamond trader.

Editor's Comment
BDF visitation approval a welcome development

BDF camps are military camps, and there is a need for stricter rules and regulations to safeguard their operations as well as ensure the safety of civilians. Of course, military personnel are human, and they have relatives as well as girlfriends and boyfriends, but the fact remains that the BDF is responsible for ensuring national security and stability and, as such, will be one of the first targets in the event of possible attacks. The decision...

Have a Story? Send Us a tip
arrow up