The Botswana Insurance Company (BIC) staff invested their time to bring smiles into a child’s life through their charity day at Cheshire Foundation of Botswana Rehabilitation Centre in Mogoditshane. BIC identified the Cheshire Foundation of Botswana (CFB) Mogoditshane Rehabilitation Centre to be one of the beneficiaries of its Corporate Social Responsibility (CSR) activities in celebrating the organisation’s 40 years of existence. The charity day at the Centre was aimed at improving the lives of disabled children living at the centre and encouraging the spirit of volunteerism among staff. In celebrating its 40th milestone, BIC’s focus is based on clients and…
Author: Editor
A number of leading local and international suppliers to the mining, industrial and power generation sectors will gather for the Electra Mining Botswana 2015, which will take place from 1-3 September at the Fair Grounds in Gaborone. Exhibitors at the show will have the opportunity to interact with visitors from across Botswana and neighbouring SADC countries, speaking with key decision-makers from the region’s industrial and mining sectors. Visitors can expect to see a wide range of products and services related to mining, industrial engineering and manufacturing, electrical engineering, power generation, materials handling, safety, health and environment, machines tools and construction, amongst others. It will be an opportunity to build valuable business connections,…
Lucara Diamond Corp. said when releasing its results for the first six months of 2015 that it is in sound financial footing amid concerns in the diamond industry globally. The company reported that it achieved revenues of $38.1 million or $412 per carat in the second quarter of 2015, excluding $1.6 million of proceeds received after the quarter end. Equally, revenues for the first six months totalled $67.8 million or $340 per carat which were 6.9% higher than the full year dollar per carat achieved in 2014 mainly due to the increase in the number of higher value single stones…
Motswedi Securities has stated it expects the Tourism & Leisure counters on the Botswana Stock Exchange (BSE) to continue outperforming the domestic board, according to a recent note. The firm which helps people invest on the exchange said on its second quarter economic bulletin-June 2015 that the tourism companies have been mainly buoyed by a stronger dollar (making it relatively cheaper for US tourists), as the counters posted fantastic FY results during the year. “However, global growth is expected to remain subdued during the year and vaguely increase in 2016 according to the IMF. Nevertheless, we expect this positive performance…
The Botswana Stock Exchange (BSE) says it will launch another exchange traded fund (ETF) to add to the existing ones before the end of the year. There are currently three ETFs listed on the local exchange and bringing another one in 2015 will take the number to four. Deputy Chief Executive Officer of the BSE, Thapelo Tsheole said at Afena Capital press club that they will make an announcement in the coming next few months. “Next month or two, definitely the ETF is coming,” he said. The BSE currently has the BettaBeta ETF, NewGold ETF and NewPlat ETF. When the…
The City of Johannesburg has commenced the roll-out of its R365-million work to upgrade the Soweto Freeway, M1 and M2 highways to improve mobility on the municipal roads. This is part of the City’s R110-billion infrastructure investment over 10 years that is also directed at changing the spatial design of the metropolitan in a bid to ease congestion and flooding on the city’s roads. In addition, R152-million has been earmarked for the construction and rehabilitation of bridges across the city. All these major projects are in line with the city’s Growth and Development Strategy 2040 to reverse the apartheid legacy…
Tsodilo Resources Limited has announced that it has negotiated a non-brokered private placement of 1,116,075 units of the company at a price per Unit of CDN $1.10, which will provide gross proceeds to the company in the amount of CDN $1,227,682. Proceeds from the private placement will be added to the Company’s working capital. The company said each unit will consist of one common share and one common share purchase warrant of the Company, each such warrant entitling the holder to purchase an additional common share of the Company for a period of two years from the date of closing…
The Botswana Power Corporation (BPC) the current power interruptions are a result of the loss of one unit at the struggling Morupule B power project. According to an update from the state owned power utility, the domestic generation capacity is constrained due to a forced outage of one of the four units (Unit 3) at Morupule B power station since 31st July 2015 resulting in loss of 130MW. “Currently two units (Unit 1 & Unit 4) are in operation delivering about 200MW. The output of these units is restricted due to remedial maintenance on both units,” BPC said through the…
Stanbic Bank Botswana has this year increased support for the growth of the National Agricultural Show, which has in the recent past become an important agricultural platform. The show takes place from 3rd to 9th August 2015, and was officially opened by President Ian Khama on 6th August 2015. The bank sponsored the erection of livestock exhibition kraals to the value of P600,000.00, in 2012, but it has since increased support further towards the infrastructural developments of the Sebele Showgrounds, which is the official home of the event. Therefore, the bank has additional contribution of P168,000.00 as sponsorship for the…
Debswana Diamond Company has handed over cattle judging ring called The Diamond Arena to the Ministry of Agriculture at an event was graced by the President Ian Khama and the Minister of Agriculture, Patrick Ralotsia. The newly built Diamond Arena is a state of the art structure that is expected to facilitate the showcasing and auctioning of livestock in a manner that is on par with international standards. The arena will also be leased to the public as a venue for various activities in order to generate funds for its upkeep and maintenance. The facility was funded by Debswana through…