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
CoA brings sanity to DIS/DCEC long-standing feud

This decision follows the raiding of the office of the former Director General of the DCEC, Tymon Katlholo early 2022 and his staff officer by the DIS operatives who reportedly took files that they had targeted.After all back and forth arguments, the CoA has set the record straight giving an invaluable lesson to the DIS that it was no super security organ and it does not have any powers to cogently supervise other security organs including the...

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