Stanbic Bank Botswana parent, Standard Bank, Africa’s largest lender by assets, and General Electric today reaffirmed their commitment to Africa at a power financing roundtable held in Washington DC. The partnership sees both parties aiming to bridge the power-financing gap in Africa and forms part of the US Africa Leaders’ Summit, the largest gathering of African heads of state and government as well as key stakeholders to visit Washington on any one occasion. The strategic partnership has already seen both companies commit to a $350 million financing agreement aimed at improving access to power infrastructure in Africa. Africa needs to…
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Lansmore Masa Square has upped the ante in the One & Only Burger Challenge. Brave contenders now stand to be paid P1000 if they are able to successfully complete the Challenge according to the stipulated rules. The One & Only continues to reign supreme, with no victors identified as yet for the infamous challenge since the February 2014 launch. Said Mr. Rico Carlinsky, Lansmore Masa Square Executive Chef, “Though some have come close, including popular DJ Mdu, none have completed the burger in its entirety in the stipulated time. Now, it’s time to up the stakes and see who’s up…
Saturday 9th August 2014 will see Bifm CEO, Tiny Kgatlwane, and Barclays Bank of Botswana Managing Director, Reinette van der Merwe, jointly host a Ladies High Tea. The engagement is a testament to Bifm and Barclays Bank’s support of the advancement of independent, empowered and up and coming women. “Women who are working together to transform a mindset and encourage future generations of young girls to refuse to give into the fear. We look forward to continuing to celebrate each other,” said Ms. Kgatlwane. Both businesses believe in celebrating the successes of women in all spheres of life.…
Botswana Diamonds has confirmed that a drilling programme will start the third week of September on Prospecting Licence No PL117/2011 in Orapa, Botswana. The two specific targets to be drilled, AN117/1 and AN117/2, are in the northern part of this small 2.9 sq km block, the company stated. The targets, identified from recent work by Sunland Minerals, the 50/50 joint venture between Alrosa and Botswana Diamonds, are prospective for the discovery of kimberlite bodies. Verification drilling depth will be 100 metres and after the core is studied in Botswana, specimens and samples will be sent for analysis to St. Petersburg.…
Eskom and Europe’s long-term lending institution, the European Investment Bank (EIB), have agreed a new EURO 75 million (R1.1 billion) finance contract to support Eskom’s 100MW Concentrating Solar Power (CSP) plant close to Upington in the Northern Cape. CSP uses a number of innovative technologies to concentrate the sun’s energy through large mirrors and utilises the concentrated thermal energy to produce steam to drive a conventional steam turbine for electricity generation. CSP technology is similar to conventional power plants in that steam is used to power a turbine and generator, but the fossil fuel combustion is replaced with free, non-polluting…
The Ministry of Health has advised Batswana to avoid travelling to countries where there has been reports of EBOLA/ VHF (Viral Hemorrhagic fever) epidemic. There has been an outbreak of the disease in West African Nations including Guinea-Conakry, Liberia, Sierra Leone, and recently Nigeria. Fears are that there is a possibility that the number of countries affected will increase over time. “Ministry of Health strongly advises the public to avoid or postpone travel to Ebola affected countries,” the ministry said. “The Ministry of Health will continue to monitor the situation at all levels and will update the public as the…
Discovery Metals said it has executed a revised Deed of Settlement and Release (Revised Deed) with Sedgman Limited and its wholly owned subsidiaries Sedgman South Africa Pty Ltd and Sedgman Botswana Pty Ltd (collectively Sedgman) and will commence paying installments by end of September. The copper miner, which owns Boseto mine in Botswana, revealed it has agreed to pay Sedgman the Settlement Sum in full and final satisfaction of all claims and first installment of US$1.8 million due 31 October 2014, second installment of US$500,000 due 31 December 2014, third installment of US$500,000 due 31 March 2015 and the fourth one of US$400,000 due 30 June 2015.…
Gem Diamonds Limited has announced the recovery of a 198 carat, white type IIa diamond from the Letšeng mine at the end of July 2014. The company said the exceptional white, high quality diamond displays no florescence and is expected to achieve an exceptional price when sold this year. “The recovery of this large, high quality white diamond continues to support the Letšeng mine’s reputation as the most important source of exceptional quality, large diamonds,” Gem Diamonds CEO, Clifford Elphick stated.
BSE Listed Pan African Bank, BancABC, has donated a 4 roomed house to a family of 24, previously sharing dwelling in a one roomed house. The house, valued at P130 000, was handed over at a ceremony in Tonota recently. In attendance was the Assistant Minster for Presidential Affairs and Public Administration, Honorable G.U.S. Matlhabaphiri who officiated the event, Area MP Honourable Pono Moatlhodi, The Chief, as well as dignitaries from the District Commission, Sub District Council and Local Authority. “As a Pan African bank whose roots are planted firmly on the African soil, we understand the importance of the…
Galane Gold Ltd, the un-hedged gold producer and explorer has commissioned a new screening plant at its operations in Botswana following the 2013 exercise to review the potential of screening its low grade stockpiles. The results of the exercise and related test work showed there are 702,259 tonnes of low grade stockpile at an average grade of 0.97 grams per tonne (“g/t”), which is located at the run-of-mine (ROM) pad at the processing plant. It was also noted that screening the ore using a 40mm screen deck is expected to increase 38% of the stockpile grade by 65% and the…