The policymakers behind the recent statutory notice giving Botswana Oil (BOL) the exclusive right to import 90% of the country’s fuel, were evidently not interested in half-measures, or half-stepping.From April 1 next year under the 90% “import...
A statement from the bank says Moroka, who is also De Beers Botswana CEO, will leave on October 31. He will also be exiting as a independent non-executive director of the bank.Moroka joined the Absa Botswana board in July 2021.He will be replaced as...
Last year’s fines are more than six times what the BoB handed out to banks for non-compliance in 2021, trend analysis by BusinessWeek indicates. According to the central bank’s Banking Supervision Report (BSR) for 2022 released on Wednesday, five...
As a result this saw the firm falling behind in payments to Lucara and led to the recent shock termination of a 10-year deal between the two, Mmegi can reveal.Highly placed insiders who witnessed the final days of a deal hailed as an industry...
BusinessWeek has learnt that Botswana is amongst one of the priorities for Airlink, which over the years has built a formidable presence in the region’s skies. Airlink has up to 50 return flights a week to Gaborone, Maun and Kasane, a stiff...
Known as “principle-aligned nature conservation financing” the loan sealed between Standard Bank and Wilderness represents a first for the African market.Standard Bank head of Corporate Financing Solutions in the Corporate and Investment Banking...
In an update to investors last week, PNRL directors said construction of a new mill for the Selebi shaft would begin in the third quarter of 2025, with commissioning of the mill and operations kicking off in the last quarter of 2026.Between now and...
Dairy sector veteran, Dr Wame Boitumelo, who is also a well-published scholar on the industry, remembers a simpler and better time for the country.“Five or six decades ago, in fact before Independence, we were a net exporter of milk products in the...
Governments float foreign currency bonds in order to raise debt from global investors. Foreign currency bonds give governments protection against inflation and – for countries with high sovereign credit ratings such as Botswana – can represent...
De Beers sells 90% of its production by value to an exclusive list of contract buyers known as sightholders, who are offered stones at 10 sales events or 'sights' held in Gaborone each year.The balance is sold via auction to more than 900...
BOL, the state oil company, has been angling for a dedicated quota for years, under which it would exclusively import most of the 1.2 billion litres of fuel consumed in the country every year, and resell this to retailers such as Engen, Total, Puma,...
In its Financial Access Survey released last Tuesday, the IMF said the number of mobile money accounts per 1,000 adults had grown from 1,115 in 2017 to 2,973 in 2022.The growth in mobile money usage is also clear in the value of mobile money...
The Union and mine management differed over a formula to be used for overtime at the mine.The BMWU had argued that the monthly calculation of how much overtime shift workers are entitled to, should be based on average working hours over two weeks and...
The development is a triumph for the BSE, which has been advocating for sustainability issuances and last year offered a 25% discount on listing fees for issuers.By listing its note programme, Absa Bank Botswana is now in a position to regularly...
Transport and Public Works minister, Eric Molale said while the evaluators were hidden away, greedy contractors inundated the ministry’s headquarters hunting for their whereabouts.“We holed them up at some place outside Gaborone for three weeks...