Deloitte, the global professional services and consulting firm, has released the results of its 2014 CFO Survey for Botswana, the second such report on the thinking of financial stewards in one of Southern Africa’s most stable and robust economies. This year 34 CFOs and Financial Directors participated in the Botswana survey with financial services (32%), construction (15%) and mining (12%) accounting for the majority of respondents. The majority (62%) of Botswana’s CFO respondents represent companies with annual turnovers of less than USD25 million with a further 21% hailing from entities with turnovers of between USD25 million and USD50 million. “This…
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Stanbic Bank Botswana continues its support of Nomads, a local charity organisation with whom the Bank has enjoyed strong relations for a number of years. The Bank this year sponsors the Nomads National Tournament to the value of P150,000,00. The tournament is set to begin on Friday 17th October and conclude on Saturday 18th October 2014. The National Tournament is held every year, with this weekend’s edition serving as the 14th National Tournament in Botswana. This is the first year Stanbic Bank Botswana will sponsor the event. “We have sponsored the monthly Nomads Golf Days and have enjoyed a strong…
Standard Bank has been named leading Investment Bank in Africa by EMEA Finance for the seventh consecutive year. The 2014 African Banking Awards reaffirm Standard Bank’s leading position in capital markets on the continent with the group earning the title of Best Investment Bank in Angola, Botswana, Kenya, Mozambique, Rwanda, Tanzania and Uganda. The awards recognise Standard Bank’s depth of knowledge and expertise across the continent, with accolades received across Southern, East and West Africa. “Despite increasing competition from regional and global banks, Standard Bank’s performance in the capital markets space in Africa continues to impress us,” says Christopher Moore, CEO of EMEA Finance.…
Safdico Botswana and Diamond Technology Park (DTP) director and CEO, Rutang Moses has credited the company’s President Seretse Khama Ian Khama, to the organisation’s visionary leadership in identifying an opportunity to be part of the creation of the diamond industry and contribution towards the government’s vision to transform the country from being the largest producer of diamonds to a leading international diamond center. During the 48th Botswana Independence Day Celebrations, Moses’ company was awarded “The Presidential Order of Meritorious Services (PMS)”, an honor awarded to any person for actions or services benefiting Botswana or any community or organization therein any…
Discovery Metals said the next phase of work for the following six months on its Lobatse Manganese Project will be largely desktop compilation studies on the Molapo farms complex and the Iron Oxide Copper Gold (IOCG) targets. The company said a review of the recently completed Nnywane soil sampling program was completed. “The anomalies identified from this program were found to be due to stratigraphic variations, rather than minerals of economic interest. No further work is planned in this area in the immediate future,” DML said on its quarterly update. The Lobatse Manganese Project is a joint venture between DML…
Tlou Energy said since recommencement of production testing, the dewatering process at Selemo has progressed steadily with gas desorption pressure (CDP) recently being reached. The company added it was happy to have once again established that gas can be liberated from the coal by employing a careful dewatering process. “The primary objective is to now demonstrate a commercial gas rate concurrent with the dewatering process,” it said in an update on Selemo Pilot Pod. At the Lesedi Pilot Pod, the company revealed that the drilling rig and all other necessary equipment are expected to soon arrive on site to implement…
Kimberley Diamonds Limited has snapped the rights to Investigation Permit No. 14.977, a package of tenements covering the gold-rich Lomero-Poyatos massive sulphide deposit, located within the Iberian Pyrite Belt, Spain’s premier mining district. According to the company, the 100% acquisition of the rights to the Lomero-Poyatos project, which KDL won through a competitive tender process run by the government of the Andalusia province, represents a key step in the process of spinning out KDL’s copper-gold assets. KDL Executive Director Rod Sainty on Tuesday attended a press conference with the Minister for Economy, Innovation, Science and Employment and…
Continental Coal Limited said it has been presented with offers from third parties interested in acquiring its 74% interest in South African subsidiary Continental Coal Limited SA following the completion of the Rights Issue. The company’s Executive Director, Peter Landau revealed that the offers include proof of funds and are also of a quantum which provides for the satisfaction of key debts at both the parent and 74% subsidiary level (namely ABSA and EDF) in accordance with negotiations that have been ongoing since the new Board was appointed in February 2014. “The offers (if accepted and completed)…
Rio Tinto said it has completed the sale of Rio Tinto Coal Mozambique to International Coal Ventures Private Limited (ICVL) following the fulfilment of all conditions precedent and receipt of the necessary regulatory approvals. The sale, announced on 30 July 2014, comprises the Benga mine and other coal projects in the Tete province of Mozambique. Rio Tinto’s other assets in the country remain unaffected by the transaction. Rio Tinto said in July it has reached an agreement to sell Rio Tinto Coal Mozambique, which is made up of the Benga coal mine and other projects in the Tete province…
Kimberley Diamonds Ltd Kimberley has commenced work on the Joint Venture project in Botswana with soil geochemistry sampling currently being undertaken. The company entered into a joint venture with Tilwane Services (Pty) Limited, in relation to two tenements located near to the Orapa Diamond Mine in north-eastern Botswana. “We selected fifteen aeromagnetic anomalies for follow-up by ground magnetic surveys and soil geochemistry sampling based on a combination of the magnetic signature and association with historical heavy mineral occurrences,” the company stated. “We have received preliminary results for thirteen of these blocks which show improved definition of the targets.…