Botswana Insurance Holdings Limited (BIHL) Group’s strategic focus on growth and profitability continues to yield positive returns. This was shared at a stakeholder breakfast held on 2nd September 2015 during which the Group shared its financial results for the six months ended 30th June 2015. The Group registered profits after tax of P288 million, a 21% increase over the same period last year. Operating profit before tax increased by 25% to P188.6 million, and all business lines contributed positively to this performance. Core earnings increased by 27% to P215 million, while profit attributable to equity holders increased by 23% to…
Author: Editor
Rand Merchant Bank Botswana (RMB), the corporate banking division of First National Bank of Botswana has assured the mining industry that it has the capability alongside other monied entities to finance viable mining projects in the country. Client Relationship Manager (Coverage) at RMB Botswana, Kabo Molimi told Electra Mining Botswana 2015 in Gaborone that there are many avenues to raise capital in the country including capital markets, banks, asset management companies, who act on behalf of pension funds, and venture capitalists, among others. “We do have the capacity and if you talk to us, we can do it for you,”…
The development of the continent continues to be affected by insufficient resources, this was said the President of the African Group and Minister of Finance of Angola, Armando Manuel, when welcoming participants at the Luanda Caucus- 2015 meeting. “This obliges us to look for other sources of financing including savings that can be made from restricting illicit financial flows from Africa, especially measures that can be taken to radically reduce these mass monetary outflows and guarantee that they are used for development in the African continent”, he noted. Meanwhile, David Robinson, the Vice-Director of the International Monetary Fund (IMF), and…
Motswako talent and brand ambassador of Absolut Africa, Khuli Chana, takes the spotlight with local talents, DJ Homie and OnealAfrica this Friday. Avid fans have already begun their countdown to the big night on Friday 4th September, 2015. The event is hosted at Absolut Gaborone, collaboration between Lansmore Masa Square and Benju. Set against the heartbeat of Gaborone in the new CBD, and all the dazzling views this promises, the event is billed to be an unforgettable night of music, dance and passion with a taste for all. This comes as no surprise, as Lansmore and Benju have partnered on numerous…
Visitors to Electra Mining Botswana are expected to see a top line-up of industry speakers at the free-to-attend seminars taking place throughout the exhibition, which runs from 1-3 September at the Gaborone Fair Grounds in Gaborone. Kabo Molimi, Client Relationship Manager at Rand Merchant Bank Botswana, will be discussing the topic ‘Raising Finance for Mining Projects in Botswana’. He will be looking at the availability of finance and sourcing new partners, the legal and regulatory considerations for foreign investors, key factors to look for in potential mining investment, and strategies for mitigating risk. Onthusitse Harold Melaetsa, Chief Minerals…
South Africa’s President, Jacob Zuma has officially opened Unit 6 of the Medupi Power Station, a move that marks a momentous milestone for Eskom and Africa’s second largest economy. This is the first super-critical power plant unit to be successfully built and operated in the new democratic dispensation. The Medupi Power Station Project is a green-fields coal-fired power plant comprising of six units rated in total at 4 764MW installed capacity. Construction activities commenced in May 2007, the power station is planned to be fully installed by 2019. Once completed, the power station will be the fourth largest coal-fired plant…
The South Africa’s power utility, Eskom walked away with the ‘Green’ Grand Prix Award at the 17th annual Sunday Times Top Brands Awards for preserving the environment and harnessing the country’s natural resources, based on spontaneous awareness among consumers. The award, which Eskom has won for the second year in a row, is awarded to companies that have embarked on environmentally friendly initiatives. Brian Molefe, Acting Chief Executive said they continue to promote a culture that recognises sustainable development in all our activities. “Environmental compliance, in terms of air quality, land, biodiversity, water, waste (including nuclear waste) and ash management,…
The Botswana International University of Science and Technology (BIUST) will be hosting the International Conference on Clean Energy for Sustainable Growth In Developing Countries in September 16th to 18th, 2015 at Majestic Five Hotel in Palapye, Botswana under the theme; Trends in Energy Service Provision for Sustainable Development. Speaking at the Press briefing in Gaborone, Chairperson, Conference Organising Committee, Professor M. T. Oladiran, highlighted that “Energy is not usually emphasised during various stages of projects delivery. The impact of uncontrolled energy use is manifested in its severe negative impact on the environment; cost non-availability and non-affordability” adding that when energy…
Africa’s low-cost airline, fastjet has signed a Letter of Intent (LOI) for the purchase of an Airbus A319 aircraft (the Aircraft). The Aircraft is expected to be ready for operations by the end of September 2015 and is planned as the first aircraft for the fastjet Zambia fleet. “Following our recent announcement of the fourth and fifth aircraft joining our fleet, the addition of this owned Aircraft by the end of September will see the fleet double in size to six once each of these aircraft are operational,” said Ed Winter, fastjet Chief Executive Officer. “Each additional aircraft is able…
African Copper, the company with copper assets in Botswana has been given the go ahead to de-list from the local bourse over lack of liquidity on its stock. The UK domiciled company has been in discussion with the Botswana Stock Exchange (BSE) with a view to delisting its ordinary shares from the exchange. “The BSE has now granted the application to delist the Company’s Ordinary Shares and therefore 27 August 2015 will be the last day for trading Ordinary Shares of the Company listed on the BSE, with the BSE Cancellation becoming effective from 7.00 am on 28 August 2015…