NIU snapped up Phoenix last year for $15 million (P205 million), after an extended period of the liquidators and government looking for takeover partners for the operation. Phoenix’s sister operation, Selkirk, was purchased by Premium Nickel...
Figures from the central bank show that bidders for the government treasury bills and bonds on offer at the April 24 auction, were particularly reluctant to take up notes at the longer end of the spectrum, potentially signalling some concerns about...
According to Bank of Botswana (BoB) data, average liquidity in March increased from a shortfall of P305 million to an excess of P764 million, providing a temporary respite to the tight liquidity conditions that have plagued the banking sector for...
In a statement released to shareholders and the market on the Botswana Stock Exchange website, the bank reiterated its earlier cautionary announcements, first issued on November 27, 2024, that the potential sale could have a material impact on the...
Diamond sales have plummeted in Botswana in recent years leading to a rescind in the Gross Domestic Product (GDP) of the country resulting in an economic crises. As a way to resuscitate the economy and identify more stable sectors to contribute...
Established in 2019, the brewery has seamlessly blended traditional brewing techniques with a conservation-driven mission producing over 1, 000 litres of beer. Providing the media with the tour of facility organised by Avani Resort and Casino, an...
The MICE strategy was implemented by the previous regime aimed at bringing international business into Botswana and generate income through hosting of conferences, meetings, incentives, and exhibitions. In recent years Botswana has hosted several...
Mark Norwell, the CEO of Perenti which majority owns Barminco, was quoted this week as saying the company’s returns from the Khoemacau contract were less than target. Norwell reportedly said Barminco must maintain its” commercial discipline to...
Local tourism giant, Wilderness Safaris has funded and delivered a P2 million project that includes two newly built classrooms, a storeroom, and a secure perimeter fence for the local primary school. The assistance offers relief in a region where...
The Union, in a statement this week, said workers at the BR-BB Joint Venture (Pty) Ltd, are owed over P9 million by MCM because the colliery in turn has not been paid for its supplies to the BPC. The Corporation has long term contracts for coal...
In his February budget speech, Finance Minister and Vice President Ndaba Gaolathe, had forecast growth of 3.3 percent this year, based on the hope that diamonds would recover from their slump in the latter part of the year, whilst the non-diamond...
Government has chosen to put skin in the troubled game, opting to convert its debt to Minergy into an equity stake that would make government a shareholder through its mining investment agency, the Minerals Development Company Botswana...
The African Development Bank (AfDB) has offered government a $1 billion (P13.7bn) loan facility, with about $304 million available this year, aimed at enhancing fiscal performance and boosting private sector participation.The loan offer, under the...
Inflation, which is the rate of growth in the average prices of goods and services in the economy, has been marginally ticking up in recent months, being last measured at 2.8 percent in March. The level is, however, still lower than the three to six...
According to RDC, the decision from the BSE’s regulatory committee is now expected in April 2025. This follows an earlier indication that the outcome would be delivered in March 2025."The company remains confident in its full compliance with all...
The launch marks a symbolic but significant transformation from the former Public Procurement and Asset Disposal Board (PPADB) to the newly reconstituted PPRA, a shift described by PPRA CEO Tumelo Motsumi as both a milestone and a mission still in...
The increase was attributed to the improved net interest income, higher fee and commission income, and disciplined cost management. The bank’s CEO, Keabetswe Pheko-Moshagane, said the growth was primarily driven by improved net interest income,...
The decision follows the recovery of some units at the Morupule B Power Station, which has helped to stabilise grid supply.In a memo issued by the corporation, BPC executives communicated that power generation had normalised thanks to improvement in...
Mupane's sale comes as gold prices trend at record highs due to the metal's status as a safe haven against the disruptions caused by the United States' planned global trade tariffs.Mupane ceased operations in March 2024, two years after...
According to available public records, SPC is 75.58% owned by Zapemm B.V., with the balance held by local business tycoon, Ramachandran Ottapathu.The deal is set to provide a powerful boost to SPC’s ambitions of expanding its operations and...
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