Vivo Energy, the company that distributes and markets Shell-branded products in 16 African markets, and Bosch, the German leading engineering and automotive aftermarket supplier, have announced a pan-African agreement to expand both companies’ footprint in providing services to their growing customer base. The company operates over 1,430 Shell branded service stations across Africa and aims to be the most respected energy company in Africa. The automotive aftermarket division of Bosch provides 16,500 Bosch service partners and countless number of independent workshops in 150 countries with a complete range of diagnostic and repair shop equipment and a wide range of spare…
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Gem Diamonds Limited has released a revised 2014 Resource and Reserve statement which showed a significant increase in the Letseng Indicated Resource while diamond price for the Ghaghoo Probable Reserve rose. The diamond company has two resource bases at the Letseng diamond mine in Lesotho (ownership 70%) and the Ghaghoo development project in Botswana (ownership 100%). The Letseng Indicated Resource has been extended in depth from approximately 100 metres beneath the current pit bottoms (in previous statements) to a new depth classification of approximately 350 metres below the current mine pits on both Satellite and Main pipe orebodies. The company…
Stanbic Bank Botswana this week steps up it’s championing of financial literacy and entrepreneurship development amongst young Batswana. The Bank has partnered with Ngwana Enterprises to sponsor the Regional Schools Entrepreneurship Camp being held in Kasane. The project comes on the back of a strong reputation for driving sustainable financial literacy initatives across Botswana. The partnership with Ngwana Enterprises, valued at P100,000.00, seeks to enhance the current education system by incorporating entrepreneurial training in the academic syllabi. Stanbic Bank Botswana Chief Executive, Leina Gabaraane, said the bank has a long and committed history of working towards ensuring greater access to…
Fairgrounds Holdings says the 2014 Consumer Fair will come with new features that are expected to draw more enthusiasts to the event billed for August. New additions to this year’s fair include the introduction of the 4 X 4 driver training and testing promises to bring in a new dimension to the show. “Off road fanatics will be treated to a week of excitement as they will get to test drive 4 x 4`s on obstacles and course and enjoy off road training,” the organisers said. Fairgrounds has also partnered with Botswana Musicians Union (BOMU) in a bid to expose…
Botswana Innovation Hub and ConceroTel (Pty) Ltd are pleased to announce signing the first lease agreement for private sector led development at the Botswana Innovation Hub Science and Technology Park. The signing of the lease is a culmination of Botswana Innovation Hubs continuing efforts to attract investments from innovative companies and institutions. The agreement allows ConceroTel to establish a new satellite communications hub facility, data centre and network operations centre at the park. The company will also establish a small video conferencing facility for high-quality access to Gaborone based SME’s. ConceroTel is a joint venture telecommunications company established in Botswana…
Shumba Coal, the coal exploration company says an undertakings to subscribe for 18,572,482 new ordinary shares for a total subscription value of USD2,228,698, have been received from private and institutional investors based in Mauritius. The company latest revelation follows the announcement released on 17 June 2014 extending the closing date of the private placement of new ordinary shares of no par value (“new Ordinary shares”) at USD0.12 each to 30 June 2014. “The 18,572,482 new Ordinary will be issued on 16 July 2014 following which the total number of shares in issue will be 196,958,562,” Shumba said. …
Discovery Metals Limited says it has executed the Amended and Restated Facility Agreement and Ancilliary Documents with its lenders. Key features of the Debt Re-Profile include all continuing defaults were waived on execution of the Term Sheet and the current gross interest bearing debt owing under the Revolving Credit Facility and the Project Finance Facility of approximately US$160.4 million (including capitalised interest) has been reduced to US$100 million. The company also said the Revolving Credit Facility has been discharged and no longer exists, scheduled principal repayments will be made commencing in year 5 of the Loan and interest rate is…
The highly-anticipated launch of Airbus’ latest enhancement to its medium-range widebody A330 Family has occurred, with details provided during a standing-room only press conference at the Farnborough Airport. As the latest evolution in Airbus’ comprehensive market-leading widebody product line, the A330neo programme comprises two versions – the A330-800neo and A330-900neo – which incorporate new Rolls-Royce Trent 7000 engines, along with aerodynamic improvements and the latest in the company’s cabin technology to provide unmatched operating economics. The A330-800neo retains the current-production A330-200’s fuselage length, while the A330-900neo uses the longer fuselage of the A330-300. “We worked out a solution that keeps…
Barrick Gold Corporation has announced that it has reached an agreement to form a joint venture with Saudi Arabian Mining Company (Ma’aden) to operate the Jabal Sayid copper mine, located 120 kilometers southeast of Medina, Saudi Arabia. Under the agreement, Barrick and Ma’aden will each own 50 percent of the new joint venture. Ma’aden will acquire its 50 percent interest in the project for cash consideration of $210 million. The acquisition is expected to be completed in the fourth quarter of 2014 and is subject to customary closing conditions. “This joint venture will enable the Jabal Sayid project to move…
BancABC has once again sponsored Central African Stock Exchanges (CASE) Handbook which profiles domestic and foreign companies listed on the Stock Exchanges of Botswana, Malawi, Zambia and Zimbabwe. Now in its 3rd edition, the CASE Handbook was first published in 2012 to create a reference platform for investors and market analysts, and improve the flow of financial information within the region. The Handbook is an aggregated information resource that organises information in the same format between the countries, allowing for easy comparisons. “As a key player in the regional financial sector, we at BancABC found it only fitting to sponsor…