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,
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.