Since October 2022, amendments to the Act have provided for enhanced withdrawals at retirement, raising the commutable or cash payout of the pension at retirement, from one-third to 50% of accrued savings.In a briefing on the group’s financial...
BusinessWeek is reliably informed that Ghaghoo, which was the country’s first underground diamond mine, could be headed for a dim future after the remaining staff received letters warning about possible retrenchment.In 2022, Gem Diamonds spent $1.9...
Known more commonly as the “slate,” the formula is a calculation of the costs involved in supplying and distributing various forms of fuel within the country. Every month, BERA looks at the movements of the various factors in the slate, to gauge...
Absa Bank Botswana realised growth rates of seven and 50% in the number of digitally active customers in its Retail and Business Banking segments last year, CEO Keabetswe PhekoMoshagane said recently.Speaking at the presentations of the bank’s...
Sweet Sting, which specialises in producing high-quality honey, honey juice, and beeswax products made from honey, has been dedicated to providing customers with natural and delicious honey products that are both healthy and sustainable.According to...
By mid-February, BURS was lagging behind its target with collections of about P42.5 billion due to what Finance Minister Peggy Serame, told Parliament was the underperformance of income tax and customs receipts from depressed mineral tax revenue and...
For the year ended December 2023, Letshego reported an 82% drop in pretax profit from P684 million to P121 million.The downward trend extends further to the previous financial year in 2022 where Letshego reported a 30% drop in pretax profits to P801...
In an update to members, the country’s second-largest pension fund noted that assets in the fourth quarter grew by 5.2 percent, driven by global property, global equities, global bonds, emerging market bonds and emerging market equities.The...
On Tuesday, BERA officially awarded Botswana Oil (BOL) the first substantive fuel import licence, as part of a legislative change under which the parastatal takes over 90 percent of the country’s fuel imports.Effective April 1, BOL is responsible...
In a statement, the bank noted that it had signed a Memorandum of Understanding with the BCM to help drive sustainable economic growth and development.The partnership has a particular focus on advancing the economic pillar through value chain...
From April 1, BOL will import 90% of the country’s fuel imports and on-sell this to the existing multinational oil companies that are operating in the country and have previously imported for themselves. Citizen companies will have the right to...
The pension fund snapped up about 61.3 million additional shares amounting to 5.65 million Australian dollars (A$) (P50m) under the second round of an offer by Tlou that was initially closed in January. The new shares take BPOPF’s total equity in...
According to a public notice this week, the rail utility is seeking service providers who can collaborate or partner in passenger rail services provision. The expressions of interest are reserved for citizen-owned companies.“Expression of Interest...
The two organisations signed a Memorandum of Understanding (MoU) on Monday which officials said underscores the importance of taking proactive measures in safeguarding digital infrastructure in a technology-driven world.Debswana managing director,...
According to the Botswana Energy Regulatory Authority (BERA) Act, 2022 and the Botswana Energy Regulatory Authority (Importation of Petroleum Products Allocation) Order of 2023 , effective 1st of April 2024, only majority citizen owned companies will...
The trade deficit for January, which represents the difference between the country’s exports and imports, is the latest in a series of negative figures for the economy which stretch back to September last year when diamonds began...
In a statement on Monday, MMG’s interim CEO and executive director, Li Liangang, said the completion became effective on March 2022 after the finalisation of all conditions agreed to with former owners, Cuprous Capital Ltd.He said the acquisition...
CEO of the tourism body, Lily Rakorong highlighted how these changes have been a great impediment to the progress and growth of the sector during the key updates and insights by HATAB to the public. She singled out of the recent appointment of the...
The packhouse was established to primarily package produce from the Selebi-Phikwe Citrus (SPC) farm, which began harvesting last week after it was commissioned three years ago. Botha said allowing produce from outside can compromise their ability to...
The state-owned national flag carrier has been drenched in financial dire straits for many years with the airline failing to break even due to low sales and high maintenance costs. Responding to a question in Parliament, Serame revealed that...