In a statement last Tuesday, bank officials said the innovation, known as Toro Loan, was a first for Botswana and part of moving towards a more digitised future as banking trends and customer needs demand greater agility and innovation.Digital...
For De Beers, “megamines” are typically the size of Orapa and Jwaneng, the two local operations which together produce more than two thirds of the diamond group’s annual output which averages above 30 million carats. Known as Tier 1...
Khoemacau, currently the country’s sole producer of copper, put out its first concentrate in June 2021 and has now ramped up to full processing capacity of 3.65 million tonnes per annum, which could yield output as high as 65,000 tonnes of copper...
Currently the group operates three stores in Molepolole, another one at BBS Mall in Gaborone and one in Block Six neighbourhood which operates on a part time basis.Payless CEO, Elliot Moshoke told BusinessWeek that the group is hoping for a P30.5...
Writing in her latest report, which was tabled before Parliament last week, Pulane Letebele found that rates arrears owed to councils had risen to P627.8 million in the 2021-22 financial year, from P548.1 million in 2020-21 and P495.2 million in...
Since last year, the Special Economic Zones Authority (SEZA) has been consulting with local farmers to encourage and assist them setting up clusters. According to SEZA CEO Lonely Mogara, the clusters will fill the gap and help satisfy the demand for...
Government, through the Trade ministry, took a decision to impose restrictions on the importation of school uniforms which included tunics, dresses, pinafores, shirts, pants, slacks, blouses, t-shirts, ties, scarf, hats, jerseys and tracksuits for...
The central bank says the direction of inflation allows it to adopt an "accommodative monetary policy stance" for this year, which could see interest rate cuts that put money back in borrowers' pockets.Briefing journalists on Thursday,...
The central bank argues that freeing up the prime lending rates will “facilitate market competition and fair pricing of credit and other lending products,” although the BoB will monitor implementation and “enforce good business...
Generally, mineral taxes anchor the country’s tax receipts but for the 2023–24 fiscal year, the customs union revenues will take centre stage, rising to about P25 billion from P14.4 billion in the current financial year.The latest forecasts are...
Non-Performing Loans (NPL) fell four percent year-on-year from P894 million to P861 million while impairment charges dropped to P76.9 million from P96.7 million, recent filings with the Botswana Stock Exchange indicate.The bank said the drop in NPLs...
Last Sunday, President Mokgweetsi Masisi officially submitted the country’s instruments of ratification to the African Union (AU) Commission, ending a four-year journey of negotiations over the pan-African trade deal. Botswana was the 46th country...
In a notice to the Botswana Stock Exchange, LLR directors said a sale deal was being finalised with Shining Sun Investments Proprietary Limited for Moedi House.According to records at the Copyright and Intellectual Property Authority, 51% of the...
According to a notice in the government gazette, the Ministry also wants to zero rate agricultural implements and condoms while exempting private health services from charging VAT. The proposed amendments to the VAT Act come after Finance Minister,...
Previously, the highest after-tax profits the banks enjoyed was in 2018 at P2.02 billion.Bank of Botswana (BoB) figures released recently indicate that in the first 11 months of last year, the country’s commercial banks raised their net interest...
According to Trade Minister Mmusi Kgafela, the industry has been having some bottlenecks that include policies which early entrants used to make it difficult for new market entrants. The minister said their findings, which were conducted in 2013,...
CashPlus is the bank’s extension which offers both FNBB and non-FNBB customers an option to perform cash deposits, withdrawals, and e-wallet withdrawals or purchase electricity or airtime. The agents are independent and located across the country....
The ultimate and desired outcome from the call is the introduction of the IK-based products and services into crucial markets whilst ensuring that there is benefit-sharing with the local communities from where the knowledge stems. According to a...
They specialise in water harvesting and purification technology. The company uses reverse Osmosis technology such as ozonating, distillation, mineralisation, and alkaline. In addition to the purification, they offer services such as customised...
The revenues in 2022 were an all-time high for the ODC, the 11-year old wholly government-owned company that is entitled to purchase up to 25% of Debswana’s output. ODC was borne out of the 2011 negotiations between government and De Beers for a...