Gem Diamonds Limited has announced the sale of the 198 carat Type II, D colour diamond (the recovery of which was announced on the 5th August 2014) for US$ 10.6 million (US$ 53 746 per carat) at Letšeng’s recent September tender. Gem Diamonds CEO, Clifford Elphick stated: “The sale of this large, high quality white diamond demonstrates the continued robust demand for large high quality diamonds.” The Letšeng mine is famous for the production of large, top colour, exceptional white diamonds, making it the highest dollar per carat kimberlite diamond mine in the world. Since Gem Diamonds’ acquisition of Letšeng…
Author: Editor
The Botswana Insurance Company Limited (BIC) has handed over football kits to Happy Boys Football Club, one of Botswana’s upcoming football teams based in Kanye. BIC’s sponsorship towards the Happy Boys is aligned to one of its CSR strategic pillars which are to contribute to enhancing talent in Botswana. The team has been sponsored with football kits, accessories and equipment such as balls, air pumps, balls and cones. BIC is hoping to make a difference in the young boys’ lives by motivating and inspiring the team to become football coaches, and motivators to other young boys in their communities,…
Firestone Diamonds plc says it has been able to reduce its net losses as it moves ahead to complete the Lesotho based Liqhobong Mine Development Project. The company is also in the process of selling its assets in Botswana. The company directors are of the view that the Botswana operations present a rare opportunity that has the ability to deliver strong returns under the ownership of an operator or operators for whom it would be a core asset. According to the AIM-quoted diamond company’s final audited results for the year ended 30 June 2014, the group net loss decreased to $11.2 million from $22.6…
MTN Business has signed a partnership deal with the City Lodge Hotel Group to be the group’s connectivity and telecommunications support. This will significantly improve ICT services at the group’s 51 existing hotels in South Africa and one in Botswana, and future hotels that the group develops in South Africa. Utilising MTN’s high speed next generation fibre optic network and their ability to self-provide last mile connectivity, MTN will enable the hotel group to upgrade to carrier-grade WiFi internet and voice services for its guests, enhance its internal network, and optimise systems stability. According to Kanagaratnam Lambotharan, MTN SA Chief…
The Directors of Botswana Diamonds said they have received an update from Sunland Minerals, the joint venture company owned 50/50 by Botswana Diamonds and Alrosa operating the exploration programme on PL117 in Orapa Botswana. Two holes were drilled on each of two anomalies AN117/1 and AN117/2. BOD said two boreholes were drilled on anomaly AN117/1 and hole 117/1-1 was targeted at the centre of a complex geophysical anomaly while hole 117/1-2 was targeted at the centre of an mineralogical anomaly. Both holes on anomaly 117/1 intersected intensively altered, cracked and brecciated rocks composing veins (5-10 cm) likely to be of…
World clean energy investment in the first three quarters of this year was 16% ahead of the same period of 2013, at $175.1billon, making it almost certain that 2014 will produce a bounce-back in dollars invested after two years of decline. Authoritative figures published by Bloomberg New Energy Finance, based on its real-time data transactions and projects, show that clean energy investment in the July-to-September quarter was $55bn, up 12% from the $48.9bn achieved in Q3 2013. The third quarter is generally weaker than the second quarter, as it was this year, with the Q3 total 16% down on a…
Standard Bank Group collected 18 prestigious awards that validate its client-centric philosophy and extensive network in Africa, at the recent Sibos conference in Boston. Two of the accolades were awarded to Standard Bank at the EMEA Finance Magazine awards ceremony for Treasury Services, 15 awards at the Global Finance Magazine awards ceremony for Global Finance Transaction Processing, and one award from the Asian Banker. The two awards won by Standard Bank in EMEA Finance’s Treasury Services Awards 2014 are: Best cash management services in Africa Best transactional bank for financial institutions in Africa These awards are in their fifth year…
fastjet, the low cost African airline, has announced its unaudited interim results for the six months ended 30 June 2014 and operational highlights of 2014 to date. fastjet’s CEO and Interim Chairman, Ed Winter, said they delighted to have seen a steady increase in the number of passengers travelling on core Tanzanian routes, with revenue growth of 96% against the same period last year. The results showed Tanzania first-half revenues grew 96% to $19.0 million, with a 41.5% increase in passenger numbers with average revenue per passenger for the period grew 39.3% to $81.65. The company registered a first-half underlying…
While international trade agreements such as AGOA (African Growth and Opportunity Act) and the recently announced Economic Partnership Agreement between European Union and Southern Africa are positive for the continent and should be encouraged, more emphasis needs to be placed on trade partnerships between African countries to drive seamless intra-Africa trade. This is according to Charles Brewer, Managing Director of DHL Express Sub Saharan Africa who says that while progress is slowly being made, insufficient trade agreements exist in order to encourage and drive intra-Africa trade. As a result there tends to be a focus on doing business with regions…
Although dampened by slowing demand at the height of global recession that started in 2008 mining sector still remains a key driver of Botswana’s Gross Domestic Product (GDP). This is despite the sector registering a decrease of 3.8 percent in the second quarter of 2014. “Mining continues to be the largest contributor to GDP; its contribution to GDP stands at 26.6 percent in second quarter of 2014 followed by Trade, Hotels & Restaurants and General Government at 14.5 percent and 13.7 percent respectively,” Statistics Botswana said its report for Second Quarter of 2014. . The agency said at the…