The $100 million (about P1.2 billion) loan is meant to support the government’s efforts through the strengthening of its pandemic and crisis response, addressing the regulatory constraints for private sector recovery as well as building the...
BusinessWeek is informed that with the negotiations having dragged on for five years, finalising a deal by June is seen as key to settling market jitters that have grown, fuelled by speculation about why the industry’s major players are yet to wrap...
The auction of three treasury bills and two bonds by the Bank of Botswana (BoB) falls under the P30 billion domestic borrowing programme approved by Parliament in September 2020 and designed to plug budget gaps while improving the capital market’s...
The two issues have perennially come up each time the PPADB reports on the state of public procurement and continue despite the Board’s remonstrations.In the latest update, PPADB acting executive chair, Tumelo Motsumi said submissions of end of...
According to filings made public by the Competition and Consumer Authority this week, CDC, which is Choppies’ operations unit in Botswana, hopes to secure approval for the Kamoso takeover which will grant access to the group’s well-known...
The pair, biologist Mmakwena Moesi and software engineer, Amogelang Masi decided to come up with organic bio-fertilisers that would assist local farmers to get produce that is appealing to consumers. The two business partners through their company,...
After opening its doors in Botswana in 2014, the company initially specialised in the cutting and polishing of rough diamonds, before expanding in 2019 to the manufacturing and retail of jewellery.On Wednesday, President Mokgweetsi Masisi presided...
By law, a ‘beneficial owner’ is defined as a person who directly or indirectly, through any contract, arrangement, understanding, relationship or otherwise is the ultimate beneficiary of a share or other securities in a company.Amendments to the...
The diamond giant last week announced that it was developing plans against a possible slowdown or recession in global economic activity, which would impact on the demand for the precious stones.“The high-level plan currently has no bearing on...
Letlole la Rona, whose portfolio features industrial, retail, office and residential properties around Botswana valued at P1.21 billion, held an AGM in December. Grit however tried unsuccessfully to adjourn the meeting, citing “an urgent,...
The alcohol producer said the new prices are to cater for the impact of the economic environment on production cost.The move will see price change for KBL brands including Budweiser, Corona and Stella Artois as well as non-returnable units for the...
The bonds, which were privately placed with investors, are part of the BSB’s P1 billion note issuance programme announced last March.According to a series of announcements made on the Botswana Stock Exchange, the BSB raised P82 million, P60...
Before COVID-19, the conference was hosted in Jamaica, Denmark, South Africa and Melbourne.The conference will be hosted by Botswana’s Gambling Authority (GA) in collaboration with the International Association of Gaming Regulators (IAGR) in...
This is revealed in the country’s telecom giant’s financial results for the six months ended 30 September 2022. BTC recently laid off about 196 workers as part of its resource optimisation exercise.When commenting on the group’s published...
The last time the budget recorded a first half surplus was in 2014-15 with P859 million, according to BoB records available online.Finance Ministry technocrats have not yet revised their expectations of a P7.7 billion deficit for the current fiscal...
BusinessWeek has learnt that on top of the existing tight protocols on governance required of African governments to remain as AGOA beneficiaries, the US also wants more adherence to Environment, Social and Governance (ESG) standards from the African...
The BoB, as government’s banker, conducts monthly auctions of treasury bills as well as bonds to primary dealers who are exclusively banks. At the auctions, the dealers compete to lend to the government by offering the yields they are seeking, with...
Data released by the Bank of Botswana indicates that last year, the local currency fell by 8.1 percent against the US dollar, one of the single most important currencies for the local economy as it is the trading currency for rough diamonds.While...
According to the group' s financial results for the six months ending 30 September 2022, the financial perfomance for the period was depressed by an escalation in replacement costs for stolen copper from their network.BTC Managing Director,...
One story dominated all others in the discourse about the economy this year and with good reason. Unlike other economic topics which often involve technical jargon that limits discussions to those “in the know”, inflation or the cost of living...