Stanbic Bank Botswana Parent, Standard Bank Group, has been chosen as the Best Bank in Africa by Global Finance magazine. In addition, Standard Bank received numerous other Global Finance awards across several categories, including the country awards for Angola, South Africa and Uganda in the World’s Best Emerging Markets Bank Awards 2014. Global Finance has also named Standard Bank as the Global Best Investment Bank in Frontier Markets and the Best Investment Bank in Africa in its 2014 World’s Best Investment Bank Awards. The World’s Best Emerging Markets Bank Awards select top banking performers in emerging markets. Banks are judged…
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Pangolin Diamonds Corp. has reported soil sample results from its 100%-owned Mmadinare diamond project in north-east Botswana. The company said it has discovered one micro-diamond and 44 ilmenite grains within “Block 1” of the Project Area with 137 soil samples collected by Pangolin field teams follow earlier sampling from within the Project Area (Prospecting Licence 041/2011). The samples were processed by Pangolin through its Dense Media Separation (“DMS”) plant, and the diamond concentrates recovered were then observed by an independent diamond and indicator mineral specialist. The Block 1 area is approximately 13 km2 in size within which samples were collected…
Lucara Diamond Corp. has announced the results from its first Exceptional Stone Tender of 2014. The special tender of Karowe diamonds was completed on April 10, 2014 and consisted of 20 single stone lots. All 20 diamonds, totaling 1,191 carats were sold for gross revenues of $50.47 million ($42,347 per carat). The highest value stones sold were a 167.1 carat and an 86.8 carat diamond which sold for $12.7 million ($75,821/ct) and $5.1 million ($58,627/ct) respectively. Of the 20 diamonds on offer 15 of these sold for more than $1.0 million, including 8 which sold for more than $2.0 million.…
Botswana Insurance Company Limited(BIC) on Thursday 10 April 2014, held a Brokers Forum. The objective was to bring together small to large insurance Brokers, to discuss current business trends, opportunities and market challenges. Gonsalves, BIC’s Internal Claims Auditor, gave an insightful presentation on the SADC protocol on trade in service and its effect on short term insurance in Botswana. Trade barriers, regional market access, and the Cape to Cairo Africa vision were discussed in length. Gonsalves highlighted the liberalisation of intra regional trade on the basis of equity, balance and mutual benefit, by eliminating barriers to trade and discrimination between…
Discovery Metals Limited (ASX/BSE: DML) (Discovery Metals, DML or the Company) is pleased to announce that it has received approval from the Ministry of Minerals, Energy and Water Resources of the Republic of Botswana to amend Mining Licence No. 2010/99L to include the Zeta Underground Mine into the Boseto Copper Project. This approval is an important step for Discovery Metals’ strategic direction to unlock underground potential. The CEO of Discovery Metals, Mr Bob Fulker, commented that “These are exciting times at Discovery Metals, with the Recapitalisation Proposal with Montsant Partners LLC and now this approval for amendment to Mining…
Tlou Energy Limited said coring of D3-3X, the third and final core-hole of the three well coring program at the Lesedi CBM project area, was completed on 1st April 2014. After finalising wireline logging operations the rig was released from all coring operations marking completion of the current program. “The core-holes intersected well-developed coal sequences throughout the Serowe, Morupule and Kamotaka formations. Coal quality and thickness results are in-line with pre-drill expectations,” the company said. “A total of 80 coal gas desorption tests have been captured across the three core-holes. Samples will remain in gas desorption analysis for several weeks…
ABC Holdings Limited, the parent company of BancABC, has announced that following an agreement with the Africa Agriculture and Trade Investment Fund (AATIF), it will increase lending to the agricultural sector across Botswana, Mozambique, Tanzania, Zambia and Zimbabwe. Making the announcement Mr Francis Dzanya, Chief Operating Officer of BancABC, said that the agreement signed with AATIF would see US$ 25 million made available by the AATIF for lending through BancABC subsidiaries to a wide range of participants in the agricultural sector. “The mission of the AATIF is to help Africans maximise the potential of the continent’s agricultural production, manufacturing, service…
BCL Mine and Morupule Coal Mine (MCM) recently renewed their long term business relationship by signing another three year Coal Supply Agreement. Through this Agreement, MCM will supply BCL with coal. BCL uses coal in processing of metal at the smelter whereas MCM mines coal. The quantity of coal to be delivered in each Contract year is up to 80 000 tonnes. Coal delivered to BCL will be according to agreed specifications and agreed terms and conditions on monthly weighted average basis and MCM will be responsible for transporting this coal to BCL using part of a fleet of rail…
BotswanaPost has embarked on a system upgrade project that will simplify and modernise the facilitation process of the Department of Social Protection payments. Services that will be improved include payments of Old Age Pensions, Destitute and World War Veterans. The new system named the ‘PosoCard’ means that the existing beneficiaries will be migrated from the old system into the new one. The migration process of registering of registering the existing beneficiaries is scheduled to start on 23rd April 2014 ending 30th May 2014; however normal registration for new beneficiaries will continue. BotswanaPost says beneficiaries will be issued with the PosoCard…
Listed financial services Group, Botswana Insurance Holdings Limited (BIHL) has announced their sponsorship for the 2014 African Youth Games. The Acting Minister of Youth, Sports and Culture, Vincent Seretse, accepted the handover from BIHL Group CEO, Mr. Gaffar Hassam, at an engagement held at Cresta Hotel. Initially billed to be a P474,000 (US$ 50,000.00) sponsorship, BIHL Group surprised all by upping the sponsorship to P500,000 at the event. The Group and its three subsidiaries Botswana Life Insurance Limited, BIHL Sure! and Bifm will each contribute a combination of cash of and kind to what is set to be the biggest…