On the other hand, its total revenue grew marginally by one percent to P485 million, while operating profit nearly doubled, supported by cost containment measures and new project rollouts.The parastatal recorded a pretax profit of P12 million during...
General Manager for Debswana's Orapa, Letlhakane, and Damtshaa Mines (OLDM), Mogakolodi Maoketsa, stated at recent media training that the new project has not been abandoned. “We have not suspended Cut 3. Timelines are continuously reviewed in...
In April, the IMF forecast a 0.4 percent contraction, again based on the performance of diamonds. The Finance Ministry, in its last projections, said it expects the economy to contract by 0.4 percent.In a statement following meetings with local...
Rental prices followed suit, climbing to an average of P5,000, enriching investors but pushing home ownership further out of reach for the average Motswana.Property prices have been rising across all segments particularly the residential market in...
A data centre is a physical location that stores computing machines and their related hardware equipment. The facilities are critical to delivering online services and key business applications for organisations worldwide, utilsing a network of...
Traditionally, the diamond industry records its highest sales each year between Thanksgiving in the United States and the Chinese New Year, as couples get engaged, married and people exchange gifts over the festive period.The US accounts for more...
Amendments to the Value Added Tax Act passed by Parliament in August are awaiting assent by President Duma Boko. The Botswana Unified Revenue Service (BURS) is meanwhile working around the clock to prepare for the changes, with deputy secretary of...
OLDM General Manager, Mogakolodi Maoketsa, said the industry has been challenged by the increasing appeal of synthetic diamonds, higher extraction costs, and slower economic growth in major markets.“People are buying synthetic diamonds at lower...
In a statement, officials said the group’s performance reflects continued strategic momentum and operational resilience, underpinned by its long-standing commitment to people-driven growth.“Our performance this half-year is a testament to the...
Since its establishment in Botswana, F&G has specialised in tobacco leaf extraction, flavour creation, and the production of ethyl maltol, a key compound widely used in flavouring across industries. Over the years, the company has successfully...
A statement seen by Mmegi indicates that Angola's state-owned diamond miner, Endiama, has submitted a "fully financed offer to acquire a strategic minority stake in De Beers".Angola believes De Beers’ future depends on remaining a...
Preliminary figures from Statistics Botswana released this week indicate that the second quarter of the year jumped to a P1.6 billion surplus, following a string of deficits for all the quarters up to the Q2, 2023. In the first quarter of the year,...
According to the bank’s half-year ended June 2025, it expanded customer loans by nine percent year-on-year, with total loans and advances up 15% to P23.9 billion, hence defying tougher operating conditions. On the other hand, Stanbic’s customer...
This year’s edition attracted over 112,000 physical and virtual visitors from 132 countries, alongside 958 registered buyers and 2,148 exhibitors and culminated in a record US$48.3 billion in agreements. Former President of Nigeria and Chairman of...
The government investment-promoting agency, which is hosting Global Expo Botswana 2025 in October, has announced a significant local response to its call for investment-ready projects. BITC stated it has received approximately 131 submissions from...
The executive of the bank, which is also listed on the Botswana Stock Exchange, announced last week that P195 million in funding has been disbursed to local businesses in the first half of 2025. The funding brings the bank's total support for...
Botswana’s annual inflation rate rose modestly to 1.4 percent in August 2025, up from 1.1 percent in July, yet it continues to hover well below the Bank of Botswana’s (BoB) medium-term target range.According to researchers in the Bank’s latest...
The fund ended June 30 with P11.9 billion in assets under management, up from P11.5 billion in the first quarter, despite what executives described as “heightened market volatility and challenging conditions”.The performance was achieved even...
The global ratings agency announced its decision over the weekend, marking the first downgrade since March 2020 when the country’s economy was clouded by COVID-19.S&P said the downgrade was due to the deterioration of public finances, due largely...
The country’s second-largest bank posted pretax earnings of P412 million for the half-year to June 30, 2025.Absa Bank executives attributed this slowdown in profitability to a challenging operating environment defined by elevated credit impairment...
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