First National Bank (FNB) on Tuesday 4 February 2014 hosted its 20th Budget Review at the Gaborone International Conference Centre. The FNBB Annual Budget Review takes place every year, following the delivery of the Annual National Budget speech by the Honourable Minister of Finance, Mr. Kenneth Mathambo. With this initiative, the Bank aims to equip Batswana to further understand the National Budget Speech and what this means to them as individuals and in their everyday lives. “These discussions, which are by design informative, also brings together participants from both private and public sectors. The discourse amounts to debating pertinent issues…
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The mining sector will need to consider more innovative funding structures in 2014 as equity markets spurn new resource ventures amid continuing uncertainty in the commodity price outlook, spurred in part by the Federal Reserve’s decision to begin withdrawing its unprecedented monetary stimulus. “Equity valuations for mining companies remain depressed and if you can’t raise enough capital in the share market it’s going to be even harder to raise debt finance for all but the most established miners,” said Rajat Kohli, the London-based global head of mining and metals at Standard Bank. “In that context mining companies are going to…
Stanbic Bank parent, Standard Bank Group (Standard Bank or the Group) and the Industrial and Commercial Bank of China (ICBC) have entered into a sale and purchase agreement in terms of which ICBC will acquire a controlling interest in Standard Bank’s London-based Global Markets business. ICBC will acquire, for cash, 60% of Standard Bank Plc, the Group’s UK subsidiary and the primary legal entity used by this business, and its other international operations. The proposed transaction requires the implementation of a series of steps to constitute Standard Bank Plc as the platform for a focused Global Markets business. The Global…
South African Tourism is delighted to announce the appointment of Lehlohonolo Pitso as Regional Manager: West Africa. As Regional Manager: West Africa, he will implement a marketing strategy for all West African markets and work to develop and grow trade, media and other stakeholder relationships to ensure continued robust tourist arrival growth from West to South Africa. Hloni (as he is known) has a 17-year track record of distinction in the travel and tourism industry. He started his career whilst still a student at Boston City Campus when he was chosen to join the HRG Rennies Travel Learnership Programme which…
In its bid to unlock the Ghaghoo diamond resource of 20.5 million carats, with an in-situ value of US$ 4.6 billion, Gem Diamonds Botswana achieved yet another significant milestone at the end of November 2013 when it hit the kimberlite a month before the expected time thus making the company upbeat and boosting the investor confidence that the mine will meet its target of starting production at Botswana’s first underground diamond mine in June 2014. Ghaghoo Diamond Mine project is in the Central Kalahari Game Reserve (CKGR). The mine is expected to produce 720 000 tons per annum at 30…
Standard Bank Group Chief Executive, Mr Sim Tshabalala, visited Botswana today to engage with valued local stakeholders. Stanbic Bank Botswana, a member of the Standard Bank Group, hosted Mr. Tshabalala along with Standard Bank Africa CEO, Mr Chris Newson, and Regional Chief Executive: Southern and Central Africa in Standard Bank Africa, Ms Pindie Nyandoro. The team used the occasion to meet with Stanbic Bank Senior Management, Regulators, and some Stanbic Bank customers within Gaborone. The visit comes at a time when both Standard Bank Group and Stanbic Bank Botswana strive to further strengthen relationships with the local business community. The…
THE SOUTH AFRICAN Tourism Minister Mr Marthinus van Schalkwyk, accompanied by Nigeria’s Tourism, Culture and National Orientation Minister, Chief Edem Duke, today officially opened the very first South African Tourism marketing office on the African continent in Lagos, Nigeria. Addressing the West African travel trade and guests in attendance, Minister Van Schalkwyk said that South African Tourism’s new home in Lagos serves to confirm South Africa’s support for increased economic cooperation between the southern African and western African regions. “As a nation, we see the special and longstanding relationship between Nigeria and South Africa as pivotal towards maintaining an Africa…
The mother city will once again host the annual Design Indaba, from the 28th February until the 2nd of March, designers will converge at the Cape Town International Convention Centre to show case their high-end designs and wares. The Indaba is a multifaceted platform committed to a better world through design, creativity and innovation. The expo offers a platform for designers and creative businesses to exhibit their products and market themselves to the general public and industry buyers in a city with a hard earned reputation for creative excellence. The Design Indaba has become a multidisciplinary platform that encompasses all…
Stanbic Bank parent, Standard Bank Group, Africa’s largest lender by assets, has been named the winner of Best Foreign Exchange Provider in Africa 2014 for a second successive year. Standard Bank also received the award for the best foreign exchange provider in Botswana, Kenya, Nigeria, South Africa and Zambia. Mr Richard De Roos, Head of Foreign Exchange at Standard Bank says: “Standard Bank has once again performed extremely well and has proven its dominance as a world class African bank and a world class foreign exchange provider. These awards are testament to our on-going commitment to connecting Africa to the…
MICROmega Holdings Limited (MMG) has acquired 100% of the shares in NOSA Global Holdings Limited (NGH), a training, auditing and certification provider to the Occupational Health and Safety sector. NGH, a company located in Hong Kong, was developed internationally by Dave King, Chairman of MMG, on behalf of his family’s international business interests. King and his overseas family trust recently reached agreement with SARS and SARB to settle a long-standing dispute between the parties. A specific requirement of this settlement was that King’s family repatriates business assets that have been held overseas into South Africa. NGH is one of those…