Cresta Marakanelo says it has struck a deal to lease an undeveloped hotel in Maun with construction of the facility expected to take two years to complete. The hotel group has told its shareholders that it has reached an agreement with a landlord, Rainet Safaris, to lease a hotel in Botswana’s tourism hub ‘that is yet to be built’. The Botswana Stock Exchange (BSE) listed hotelier said the lease will be for a period of 10 years with an option to extend by additional 10 years. “The construction of the said hotel is expected to take around 24 months after…
Author: Editor
African Utility Week has announced that Power Africa, US President Barack Obama’s initiative to improve access to power in sub-Saharan Africa, will be the official country partner of the upcoming conference and expo from 12-14 May at the CTICC in Cape Town. The conference and expo bring together utility professionals from across the globe to learn, share knowledge and debate the key topics that will secure the future development of Africa’s power and water industries. Power Africa works with African governments, the private sector, and other partners to add more than 30,000 megawatts (MW) of cleaner, more efficient electricity generation capacity as…
The 4th edition of the New York Forum AFRICA (NYFA), the world’s leading pan-African business summit, will now take place on August 29-31 2015 in Libreville, Gabon under the High Patronage of Ali Bongo Ondimba, President of the Gabonese Republic. The dates have been changed to coincide with the 14th AGOA Forum, the first time this Forum has ever been held in Central Africa. Gabon was chosen as the host nation for the AGOA Forum, which is a US government initiative to expand trade with Sub-Saharan Africa. The NYFA will serve to highlight business and economic opportunities across the…
Botswana Insurance Company Limited (BIC), the local insurance house said Global Credit Ratings (GCR) has reaffirmed its national scale claims paying ability rating at AA-(BW), with the rating outlook maintained as “Stable”. According to the company, the rating of AA- which constitutes the highest rating a short term insurer in Botswana currently can be accorded by the rating agency is regarded as positive for BIC, as it emphasizes the company’s positive strategic direction. “The rating was determined by BIC’s favourable position as the market leader in the short term domestic insurance arena, accounting for more than twice the average market…
Following the inaugural Electra Mining Botswana held in 2013, that was hailed as success by all stakeholders involved; hosting 118 exhibitors and attracting over 2000 visitors from across Africa, Electra Mining Botswana is back taking place at the Gaborone Fair Grounds from 1-3 September. The expo offers an opportunity to showcase current and developing technology, new products, equipment and machinery, and the latest systems and services. According to the organisers, the show is strategically developed to be a ‘one stop’ trade event, and is expected to attract a higher numbers of visitors including high quality decision makers in all areas…
A team sponsored by DHL have arrived in Botswana, while continuing on their grand and ambitious journey through 45 African countries, which started in Cape Town in October 2014 and is set to end in London in September 2015.Forming part of the build up to Rugby World Cup 2015 in England, the DHL Africa as One tour will see the team pass a single rugby ball from hand to hand while introducing the African continent to the game of Rugby. As part of this epic campaign, the team from DHL, the official logistics partner of Rugby World Cup 2015,…
MICROmega Group Company, NOSA is the official safety awareness sponsor of the Investing in African Mining INDABA 2015, taking place in Cape Town from 9 to 12 February. The Mining Indaba is the world’s largest mining investment conference and is expected to host more than 7,000 influential professionals in African mining. The South African mining industry has reported a decline in fatalities and injuries for 2014 – the seventh consecutive year these figures have dropped – with the official numbers expected to be about 9% better than in 2013. NOSA, which has been providing HSE services to the mining…
Lansmore Masa Square’s rooftop venue will this year host the ultimate Singles’ Party in the form of Speed Dating on the Friday (13th February 2015) before the Valentine’s Day. The Speed Dating night will see guys and girls have a bit of fun trying to find their Valentine. The night will see ladies seated, with gents rotating seats every 3 minutes, as facilitated by host Simba Mudereri. Each 3 minute “encounter” gives the pairing a chance to try and win each other over or get a sneak peek into each other’s characters to make a call on whether they’ve hit it off…
African Copper said it is conducting a review of its operations in light of the prevailing market conditions and more specifically the recent fall in copper price. The copper miner that owns Mowana and Thakadu mines, pointed out that the review will come up with a number of short and long term strategies aimed at addressing the group’s current and future funding requirements. Already, the company is implementing efficiency and cost optimisation measures to improve its liquidity position and has taken the decision to suspend waste stripping activities at Mowana open pit, with a strategy in the short term…
Walkabout Resources Ltd said it has secured a strategic cornerstone investment with an initial placement of funds by Sigur Minerals Inc, of New York. Sigur Minerals is a diversified, emerging mining company that seeks to utilise its extensive network of African professionals to develop and grow a new Southern African coal company into the opportunities being created through the impending “coal cliff” being forecast by the South African electricity agency, Eskom. Immediately following the placement, Walkabout will undertake a 1 for 5 Rights Issue to shareholders which will be partially underwritten by Sigur on the same terms as…