S & P's visits Jwaneng Mine

Glittering soils: Jwaneng Mine is amongst the worldu00e2u20acu2122s richest diamond assets
Glittering soils: Jwaneng Mine is amongst the worldu00e2u20acu2122s richest diamond assets

Representatives from global ratings agency, Standard and Poor’s recently toured Jwaneng Mine as part of an evaluation of the country’s economic and political developments.

Standard and Poor’s is one of two agencies which carry out annual reviews of the country’s sovereign credit ratings, currently ranked amongst the highest in Africa. The assessments involve meetings with key stakeholders such as the Finance and Economic Development ministry, Bank of Botswana and critical economic actors such as Debswana, which owns Jwaneng Mine amongst other assets.

On Wednesday, Debswana said the Standard and Poor’s delegation comprised Samira Mensah (Director - Financial Services & Sovereign/IPFS&P Global Ratings), Tatonga Gardner Rusike (Associate Director- Sovereign Ratings - S&P Global Ratings) and Mohumi Keneilwe Seokamo (Senior Financial Stability Analyst at Bank of Botswana).

“Their tour included a visit to the open pit, an appreciation of one of the monster haul trucks, and interaction with its lady operator, Lebogang Sesupo, amongst other things,” Debswana’s statement reads.

Prior to their visit to Jwaneng Mine, the delegation had the opportunity to meet Debswana’s acting managing director, Lynette Armstrong in Gaborone.

Debswana is one of the world’s leading diamond producers by value and volume. The group operates four diamond mines in Orapa, Letlhakane, Damtshaa and Jwaneng.

The company is a major contributor to the national economy of Botswana – contributing significantly to the gross domestic product, foreign exchange earnings and government revenue. It is one of the largest private sector employers, with over 5,500 employees.

Editor's Comment
A Call For Government To Save Jobs

The minister further shared that from the 320 businesses that notified the Commissioner of Labour about their plans to retrench, 20 were acceded to, which resulted in 204 workers being retrenched during April 2020 and July 2021.The retrenchments were carried out while the SoE was in place, meaning the companies that succeeded must have had solid reasons, despite the strict SOE regulations imposed on businesses to not retrench. We are left with...

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