Lucara exit throws HB, gov’t deal in limbo

In doubt: Government’s equity deal with HB appears increasingly distant PIC: HB ANTWERP
In doubt: Government’s equity deal with HB appears increasingly distant PIC: HB ANTWERP

Lucara’s decision to terminate its sales agreement with HB Antwerp has cast a cloud on the Belgian trader and government’s talks towards an equity deal, with President Mokgweetsi Masisi saying the State will determine “the course to take”.

Lucara, which represents HB Antwerp’s principal client, terminated its deal with the Belgian firm in the early hours of Thursday morning (local time) citing “a material breach of financial commitments” by HB. A few weeks ago, HB was rattled by a dispute between its founding shareholders over the strategic direction of the four-year old firm.

Masisi, who in March announced that government wanted to purchase a 24% stake in HB as a way of getting a foothold in the diamond value chain, struck a non-committal tone during a briefing yesterday.


Editor's Comment
Routine child vaccination imperative

The recent Vaccination Day in Motokwe, orchestrated through collaborative efforts between UNICEF, USAID, BRCS, and the Ministry of Health, underscores a commendable stride towards fortifying child health services.The painful reality as reflected by the Ministry of Health's data regarding the decline in routine immunisation coverage since the onset of the pandemic, is a cause for concern.It underscores the urgent need to address the...

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