Discovery Metals (DML) says it has failed to strike a deal with Cupric Canyon Capital LP over a potential transaction to sell Boseto mine in Botswana to the Barclays Capital supported private equity firm. The Australian company said it has started to re-engage with a number of parties with whom it was in discussions prior to entering into the Exclusivity Period with Cupric. “DML and Cupric have been unable to agree the terms of a binding Terms Sheet Agreement by 31 January 2015 and accordingly the Exclusivity Period is now at an end,” the Botswana focused company said. “The expiry…
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Standard Bank Group Limited (SBG) said it has signed the closing documents with Industrial and Commercial Bank of China Limited (ICBC) to cement the completion of the disposal of a 60% stake in Standard Bank Plc on 1 February 2015. The London headquartered banking group has operated as a wholly owned subsidiary of Standard Bank London Holdings Limited, which is in turn controlled by SBG. Post completion, the joint venture, with operations in London, New York, Singapore, Dubai, Tokyo, Hong Kong and Shanghai, will focus on the global markets business and provide trading services in commodities, foreign exchange, interest rates,…
Botswana economy will expand in 2015 and the positive growth will mainly be driven by the non-mining sectors including Trade, Hotels & Restaurants, Finance and Banking, and Social & Personal Services, parliament was told. Minister of Finance and Development Planning, Kenneth Matambo said in his 2015/2016 budget speech that despite continued uncertainty over the global economic recovery, the outlook for the domestic economy remains positive. “Real GDP is estimated to have grown by 5.2 percent in 2014, and forecast to grow at a slower rate of 4.9 percent in 2015,” former Botswana Development Corporation (BDC) Managing Director said. He…
Aviation Africa 2015 organised by Arabian Aerospace and African Aerospace magazines is gathering senior, influential industry figures from both Africa and the Middle East. Speakers confirmed from African and Middle East airlines already include Girma Wake, Chairman, Rwandair (formerly CEO, Ethiopian Airlines), Adel Ali, Board Member & Group Chief Executive, Air Arabia and Dr Nicklas Dahlstrom, Human Factors Manager, Emirates Airline. There are also senior figures from aviation authorities and associations who include Dr Elijah Chingosho, Secretary General, Africa Airlines Association – AFRAA, Hussein Dabbas, VP Africa & Middle East, IATA and Dr Hamdi Chaouk, Director General, Civil Aviation Lebanon.…
Botswana focused copper miner African Copper Plc said Steve Georgala, a non-executive director of the company, is resigning from the Board to focus on other business interests with immediate effect. Roy Corrans, Chairman, said: “I would like to thank Steve for his dedication and contribution to African Copper over the last 3 years. On behalf of the Board, I wish him all the best in the future”. African Copper Plc is an AIM-listed copper production and exploration company, currently focused on Botswana. The company’s flagship project is the copper producing open pit Mowana mine. It also owns the…
During 2014, DHL Express did not only had the opportunity to test its global transportation network with some unusual and non-traditional deliveries, but also its ability to innovate in an effort to overcome potential delivery delays. The company’s Vice President of Operations Oliver Facey, said some of the more unusual delivery requests received in 2014 ranged from an East Africa based client’s weekly request for the delivery of a curry from his favorite local restaurant in Europe to a delivery that enabled a gold medal for a South African athlete. In August 2014, South African pole vaulting athlete, Cheyne Rahme…
Anglo American plc said the performance of coal in the period ending December 2014 was mixed with production destined for Eskom declined on the back of sluggish demand. However, it revealed that the domestic non-Eskom production increased by 43% to 1.8 million tonnes as a result of productivity improvements at Isibonelo. “Production for Eskom was 2% lower at 7.4 million tonnes owing to reduced Eskom demand and planned production declines at Kriel prior to the move to the new mining areas, offset by stabilised production from New Denmark,” stated in the production report. The South Africa’s mining focused group said…
The Ministry of Environment Wildlife and Tourism said the follow-up meeting to the African Elephant Summit and the Kasane Conference on the Illegal Wildlife Trade which were scheduled to be held in Kasane, Botswana on the 02nd and 03rd March 2015 respectively, have postponned. According to a statement, the postponement has been necessitated by an unforeseen clash with The African Ministerial Conference on the Environment (AMCEN) which will be held in Cairo, Egypt on the 02nd to the 06th March 2015. “The Cairo meeting will attract African Ministers of Environment, many of whom were invited to participate in the Kasane conference.…
Paragon Diamonds Limited said it has signed a legally binding Memorandum of Understanding with International Triangle General Trading LLC (ITGT) with regards to a US$12m equity and debt financing package. The proceeds will fund Stage 1 production at Paragon’s 80%-owned Lemphane Kimberlite Pipe Project in Lesotho, which is located among a cluster of kimberlites known for producing large, high value diamonds. Already, terms have been agreed for the funding of Stage 1 production at Lemphane that will involve the extraction of approximately 1 million tonnes of kimberlite over two years. According to an independent report, it is expected to lead…
The arts scene in Botswana has been on the up and up for the last few years now, and Comedy is no exception. This Valentine’s day, comedians Umbambi Bambino Ndiwenyu, Tulani Tau and Charles Manase are putting a different spin on love and relationships with their latest performance, Where Is My Valentine. he trio met at the first season of the Soul Food Comedy Roast in April 2014, and have performed together at a number of gigs, including Ballsy Comedy and Politics of Laughter, which were both fundraisers for Troopers Basketball Club. Says Ndiwenyu, “Troopers really gave us a…