The highly anticipated 37th Organisation of Eastern and Southern African Insurers Annual Conference will be held at the GICC in Gaborone from the 16th to 19th November 2014 following a postponement from August 17th to 20th due to the EBOLA epidemic. The conference will be held for the first time in Botswana, Gaborone and brings together potential insurance industry investors and high level dignitaries from the insurance sector. The conference has attracted delegates from all over Africa and beyond. It is important to ensure delegates and the public that OESAI adheres to Botswana Ministry of Health and Immigration Department who are maintaining the travel…
Author: Editor
The Botswana Confederation of Commerce Industry and Manpower said its President, Lekwalo Mosienyane will lead a business delegation to Orapa Damtshaa and Letlhakane Mines (OLDM) from Friday, 31st October- Sunday, 2nd November 2014. According to the organisation, the visit is a joint initiative of BOCCIM and OLDM who both believe the visit will provide an avenue to more opportunities where our local private sector can play a meaningful and effective role in the economy of Botswana through participation in the activities of the mines. Amongst others, the purpose of the visit is to familiarise the business executives with the operations…
Rio Tinto said it has extended the tenure of chief executive Sam Walsh and chief financial officer Chris Lynch, providing a strong endorsement of their leadership, the Group’s strategy and its focus on driving shareholder value. According to the company’s Chairman Jan du Plessis, for quite some time, Walsh has made no secret of the fact that he loves his job and would like to continue well beyond next year. “Given his performance and his enthusiasm to continue in the role, the decision to extend his tenure has been an easy one for the board. In addition, over the past…
Stanbic Bank Botswana has reaffirmed its support for the Morupule Coal Mine Cycling Club by yet again sponsoring the annual challenge. Pledging its increased dedication to the hallmark sporting event, the Bank this year ups its sponsorship to a total of P200,000.00. The Morupule Coal Mine Cycle Challenge, to be held on the 26th of October 2014, is set to be even more spectacular this year as it finds its new home in the town of Palapye. The Morupule Coal Mine Cycling Club was formed in 2009 with the aim to improve the level of fitness and wellbeing of employees…
Lucara Diamond Corp has announced the results from its third Exceptional Stone Tender of 2014. The sale of fourteen diamonds closed on October 21, 2014 with all lots being sold for gross revenues of $46.4 million ($30,129 per carat). A total of 12 of the 14 stones sold for greater than $1.0 million, including 6 stones which sold for greater than $4.0 million each. The highest value stones sold during the tender included the 203 carats, the 239 carats and the 141 carats diamonds which sold for $8.2 million, $7.2 million and $6.1 million respectively. This tender concludes Lucara’s Exceptional…
First Quantum Minerals Limited and African Energy Resources Ltd have executed a binding Heads of Agreement (HOA) under which FQM can earn a joint venture interest in the Sese Project and carry AFR’s interest through to commercial operation of one or more integrated power projects. Under the deal, FQM can earn a 75% interest in the Sese Project through investment of AUD $20m and arranging finance as a loan carry for AFR’s 25% interest in the Project. According to a statement, FQM has also agreed to subscribe for 69m shares in AFR by way of a Private Placement at AUD…
DHL Express, the world’s leading international express services provider and Engen, one of Africa’s leading multinational fuel retailer and provider of convenience services, have signed a retail partnership, in a bid to provide customers with better access to global express services. A consumer looking to send documents or parcels overseas can simply walk into an Engen service station to send their shipment, ensuring greater convenience and accessibility to the powerful global network which DHL offers. This includes all domestic and international shipments to major centres across over 220 countries and territories worldwide. The project, which will be piloted at…
Saturday 18th October 2014 saw Joseph Muchena from Zimbabwe proclaimed the winner of the Nomads National Tournament, a national golfing championship this year sponsored by Stanbic Bank Botswana. Joseph emerged victorious from a total of 209 fellow golfers from across the continent, following 2 days of battling it out on the green. The Nomads National Tournament kicked off on Wednesday 15th October 2014 and is now in its 14th year. Stanbic Bank Botswana this year sponsored the event for the first time, building upon a strong foundation of working with the Nomads Club. The Bank sponsored the Tournament to the…
Norilsk Nickel and BCL Limited have announced conclusion of definitive transaction agreements to sell its operations in Africa, comprising its 50% participation interest in the Nkomati Nickel and Chrome Mine, South Africa, and its 85% stake in Tati Nickel Mining Company (‘Tati Nickel’), Botswana (together, the ‘Assets’), to BCL. The total expected consideration for the assets payable by BCL to Norilsk Nickel amounts to US$337 million payable in cash. In addition, BCL will assume all attributable outstanding debt and environmental and rehabilitation liabilities associated with each asset. The agreed deal structure envisages the assignment of the Nkomati concentrate off-take agreement…
China is the world’s largest wind market with more than 100GW of wind capacity, equivalent to about 65,000 turbines, and is currently adding more than 30 new turbines per day. Operating and maintaining these turbines costs $500m per year, but this will increase to $3bn per year by 2022, according to research just published by Bloomberg New Energy Finance, an analysis company. In total, it found that $16bn will be spent to operate and maintain China’s wind turbines from 2015 to 2022. The task of providing O&M for the estimated 250GW of wind capacity that China is forecast to have…