The Board of Directors of Botswana Insurance Company Limited (BIC) have announced that the Managing Director of BIC, Dziki Nganunu, has indicated his intention to step down from the position of Managing Director at the end of September 2014. Nganunu has been with the company for over 9 years having joined BIC in March 2005. During his tenure Nganunu established BIC as the trusted leader in the short term insurance sector in Botswana. BIC gained an AA- (stable) claims paying credit rating which reflects the company’s financial strength, stability, technical expertise and leading market position. The financial strength ofBIC…
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African Energy says its board has appointed Wayne Trumble as a Non‐Executive Director. Trumble is a senior executive with 35 years of specific industry expertise in electricity, investment and construction. For the twelve years to 2013, Mr Trumble was the Executive General Manager of Griffin Power Pty Ltd, reporting the Board of the Griffin Group, where he led Griffin’s move from fuel supplier to electricity generator. He was responsible for preparation of strategy and the development, execution and operation of Griffin’s $1.2 billion Bluewaters coal fired project, providing 436 MW of base load power in Western Australia. …
MMC Norilsk Nickel, the world’s largest nickel and palladium producer, has announced preliminary consolidated production results for the first quarter of 2014. The company said consolidated nickel production declined 5.2% year-on-year (y-o-y) to 67.8 thousand tones. The decline was blamed on lower production volumes at Kola MMC; lower production volumes at Tati Nickel and the mothballing of Lake Johnston operations in Australia. Its consolidated copper production in 1Q 2014 was 90.4 thousand tonnes down 0.7% (or 0.6 thousand tonnes) which is fully in line with the Company’s production guidance while in the reporting period, the company produced 610…
Shumba Coal says it has been granted the approval to list on Stock Exchange of Mauritius (SEM) with the expected date offer of 50,000,000 shares will commence on 27 May 2014. The junior coal exploration company however said the move is subject to the company obtaining approval from the Botswana Stock Exchange (BSE) for the primary listing of the aforementioned shares. “The Listing Executive Committee of the Stock Exchange of Mauritius Ltd has granted approval to Shumba Coal Limited for: (i) the private placement and admission of up to 50,000,000 new Ordinary Shares of no par value of…
Tlou Energy says the Lesedi and Selemo production pods have successfully undergone recompletions with the installation of larger capacity down-hole pumps in both production wells. The company however said as the first horizontal pilot pods in the area, a cautious approach was adopted in sizing the initial pumps which were selected to more closely control and facilitate our understanding of the reservoir performance. “Monitoring and interpretation of early production data confirmed the need to increase the capacity of the down-hole pumps in both production wells (Lesedi 1P and Selemo 1P) to complete the dewatering process and bring the…
Today saw Stanbic Bank Botswana bring smiles to the faces of children at Kagisano Society Women’s Shelter (KSWS). In a project driven by Stanbic Bank’s Workplace Banking (WPB) team, staff donated educational books and toys to Kagisano Society Women’s Shelter. The project, a staff initiative supported by the Bank as a whole, comes as yet another testament of Stanbic Bank’s commitment to giving back to the communities in which it operates. “An unwavering dedication towards supporting and uplifting young children and promoting a greater literacy has always been an area of focus for Stanbic Bank Botswana. KSWS has become a…
FedEx Corp. (NYSE: FDX) announced today that its FedEx Express subsidiary acquired Supaswift businesses in Botswana and six other countries, which are Malawi, Mozambique, Namibia, South Africa, Swaziland and Zambia. These acquisitions represent the latest step in the company’s strategy to grow its African network and service offering. FedEx Express now has direct access across the seven countries to 40 facilities and over 1,000 team members, who join the ranks of more than 300,000 FedEx team members globally. As of today, FedEx Express is offering a complete suite of export, import and domestic solutions across Southern Africa, connecting the…
African Energy says a number of groups have shown interest in forming partnerships to see ways of getting economic value out of the Mmamabula West coal assets. The company said it has also completed a feasibility study and ESIA to assess the mining, processing, marketing and transport logistics of up to 4Mtpa of coal at the project that was completed towards the end of the quarter and are currently under internal review. “Several groups have expressed an interest in partnering with African Energy to develop this project for South African or Asian export markets,” the company said on its…
South African Tourism is delighted to announce the appointment of Ms Risuna Mayimele as Global Manager: Communications effective 2nd May 2014. Prior to joining SA Tourism, Mayimele has most recently worked as a Marketing Manager for SABC3, where she headed up Marketing and Communications for the channel which was also voted the best TV channel in the Star Readers’ Choice Awards under her marketing tenure. Her career spans over 13 years, as a Marketing Communications practitioner. She has years of experience in Marketing Research and Strategic Planning in the advertising and media industry. She has worked in leading global advertising agencies in the area…
Africa’s low cost airline, fastjet, has confirmed that as previously announced, two of its loss-making Fly540 businesses are being restructured with the objective of increasing shareholder value. The Fly540 businesses operate on a traditional airline model and not the fastjet low cost model. After a detailed evaluation of the potential of Fly540 in both Ghana and Angola, fastjet has concluded that, although these countries present very significant long-term opportunities for the fastjet low cost model, in the short term fastjet intends to fully focus on the considerable potential of opportunities in East and Southern Africa. As a key part of…