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Gov't budgets P890m for HB deal

Friday, February 09, 2024 | 540 Views |

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.

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Gov't budgets P890m for HB deal

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.