Moody’s gives diamond deal a thumbs-up
Wednesday, August 16, 2023 | 1400 Views |
Handshakes and smiles: De Beers CEO, Al Cook and Minerals minister, Lefoko Moagi after clinching the deal recently PIC.DE BEERS BOTSWANA FACEBOOK
As a wholly state-owned entity, the BDC’s credit rating is linked to government’s own outlook and the related forecasts around the country’s economic performance. In a recent update, Moody’s said the country’s economy was now projected to grow by 3.9% and 4.2% in 2023 and 2024 respectively, “partly driven by the new agreement in principle between government and De Beers.
The agency said the agreement is expected to increase the country’s share of diamond production, driving fiscal revenues higher and in turn bolstering economic activity.
‘When you make peace withyourself, you make peace with the world’- Maha GhosanandaThis may come at a huge cost if not handled properly. What started off on Labour Day in Letlhakane this year, where Boko was in attendance when the militant lawyer-cum-trade unionist, Robert Rabasimane rebutted the President’s address in defence of the trade union has seemingly spiralled out of control. The issue is now creating a cat-and-mouse type of a...