Firestone Diamonds, the AIM-quoted diamond mining and development outfit has appointed former De Beers man Stuart Brown as Chief Executive Officer of the company as it prepares for development of key mining components at Lesotho project. Tim Wilkes, the company’s current Chief Executive Officer will stand down from his role on 30 November 2013 and Brown will assume the role of CEO from 1 December 2013. Wilkes will remain with the company as an Executive Director. Brown is a former Joint Acting CEO, and Chief Finance Officer (CFO) of the De Beers Group having been an employee for 20 years…
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First National Bank Botswana, through its charitable FNB Foundation, has continued its efforts to assist organisations in charitable ways, by donating a brand-new combi valued at P370 000 to Kamogelo Day Care Centre in Mogoditshane. In addition to this donation, FNB Staff members at the First National Insurance Agency Division utilised the FNB Foundation Staff volunteer programme and collaborated towards revamping the Kamogelo Day care centre play ground. The employees painted the playground and erected some facilities to give the centre a refreshed look. Both the combi and the playground were handed over to the Centre on 9th August 2013.…
Australian company-African Energy says it will participate in the latest tender that seeks expression of interest from independent power producers to build a Greenfield power station aimed at solving power difficulties in Botswana. The Ministry of Minerals, Energy and Water Resources (MMEWR), on behalf of the Government of the Republic of Botswana has released a Tender Notice and Invitation for Expressions of Interest (EOI) for the development of a greenfield 300MW coal‐fired power station. “The key aspects of the Tender Notice and African Energy’s intention to submit its EOI are as follows: The EOI seeks information on how a preferred…
Lucara Diamond Corp. has reported its first quarter 2013 results which showed it increased its EBITDA for the period to $29.0 million as compared to a loss of $6.2 million in the second quarter of 2012. The company attributed this change to cash operating earnings of $33.3 million earned from Karowe and decreased exploration and other mining costs at Mothae. During the period, the company completed its first large and exceptional stone tender along with two regular tenders from Karowe mine, which achieved gross proceeds of $49.3 million. Full year to date proceeds are $81.8 million. The average value of…
First National Bank Botswana (FNBB) says the development of a new Head Office named First Place in the Gaborone Central Business District (CBD) is a continuation of the bank’s broader strategy to bring all its business areas, product and services under one roof; to benefit from synergies and efficacy; to create a one- stop-shop for customers and a conducive place for both staff to work and customers to do business. The building was officially launched by Vice President of Botswana, Dr Ponatshego H. Kedikilwe on 5th August 2013. At the size of 21360M2 ,First Place is a state of the…
According to the IPD Botswana Annual Property Consultative Index, the total return for all property was 17.9% for the year to December 2012, compared with 20.9% for 2011. This figure represents the un-geared total return to directly held standing property investments from one open market valuation to the next. The return on Botswana property comprises 11.0% income return coupled with 6.3% capital growth over the year. The underlying rental growth of 8.6% outstripped Botswana’s headline inflation rate of 7.4%, underpinning both the capital growth and income return. Industrial property outperformed other sectors with a total return of 28.4%, closely followed…
Samsung Electronics Co., Ltd., the world leader in advanced memory technology, has announced the industry’s first mass production of three gigabyte (GB) low power double data rate 3 (LPDDR3) mobile DRAM, the highest density mobile memory solution for next-generation smartphones, which will bring a generation shift to the market from the 2GB packages that are widely used in current mobile devices. The Samsung 3GB LPDDR3 mobile DRAM uses six of the industry’s smallest 20-nanometer (nm) class* four gigabit (Gb) LPDDR3 chips, in a symmetrical structure of two sets of three chips stacked in a single package only 0.8 millimeters high.…
The European Union office in Botswana said as the world celebrates the International Day of the World’s Indigenous Peoples, it reaffirm the EU’s support to them across the globe. “We join them in celebrating their rich cultural heritage, and pay tribute to the enormous contribution their traditions and knowledge have made to the world’s cultural heritage. The EU has always been a staunch supporter of the 2007 United Nations Declaration on the Rights of Indigenous Peoples,” said Bester Gabotlale, Press Officer for theDelegation of the European Union to Botswana and SADC. Gabotlale said the Declaration is a key tool for…
Botswana Diamonds says it has struck an agreement with Eversharp Investments (Pty) Ltd over the PL 117/2011 licence in the Orapa area of Botswana, covering 2.9 sq km. Eversharp is a private Botswana company holding exploration licences in the country, which as the world’s best mines and diamond deposits. Under the terms of the agreement Botswana Diamonds becomes operator of the block and will earn into a new joint venture company which will own PL117/2011 (Newco). Botswana Diamonds can earn up to a 51 per cent interest in Newco by spending up to US$300,000 over three years. Over the last…
Samsung has on 5th August, 2013 ,announced that the upcoming BBM™ app will be available in the Google Play and the Samsung App store soon and available to all Samsung GALAXY smartphone consumers across Africa. Says George Ferreira, VP and COO of Samsung Electronics Africa: “At Samsung we are all about collaboration, innovation and driving consumer experience based on choice, value and customisation to suit every lifestyle. As such, bringing a top tier messaging service such as BBM is another way that we are expanding the catalogue of our messaging services and offering customers an amazing way to stay instantly…