Cresta Marakanelo says its investments in Zambia are safe following the purchase of a hotel in Lusaka. The company last year acquired Golfview Hotel Ltd in Zambia for the total amount of P20 million and already analysts were asking whether the investments will not be compromised as it happened with other investors from Botswana who has bad experiences. Cresta’s Chief Financial Officer, Valentine Mganga said Zambia has incentives for foreign direct investments, which makes sense for the company to buy more properties if sensible business comes that side. “The benefits we have seen in Zambia outweigh the challenges,” Mganga explained…
Author: Editor
Aviva Corporation Ltd says it has entered into a conditional agreement with African Energy Resources Limited to sell its Mmamantswe Coal Project to the company. Subject to the satisfaction of certain conditions precedent, African Energy will acquire all of the shares in Aviva’s wholly-owned subsidiary Botswana Energy Solutions Limited (BES), for a payment of A$3.5 million. Mmamantswe Coal (Proprietary) Ltd (Mmamantswe Coal), which holds Aviva’s rights to the Project, is a wholly-owned subsidiary of BES. The deal is subject to approval Aviva shareholders under the ASX Listing Rules at an extraordinary general meeting expected to be convened in June and…
Discovery Metals Limited says the Supreme Court of Queensland has dismissed Sedgman Limited’s (Sedgman) application against the company regarding a claim that Discovery Metals makes a payment to Sedgman in the amount of $20,027,470.07. The Supreme Court agreed with Discovery Metals that Sedgman acted, among other things, outside the terms of the May 2010 Engineering Procurement & Construction FIDIC Contract (EPCC) in trying to bypass a very clear dispute resolution and arbitration process set out in the EPCC. “Discovery Metals looks forward to resolving remaining issues relating to the performance of Sedgman in accordance with the terms of the EPCC,”…
At the launch of the new Samsung GALAXY S4, Samsung Electronics Africa announced that it will be providing Pan African* customers with a 24-month Accidental Damage from Handling (ADH) warranty to cover screen and liquid damages to the GALAXY S4 at no extra charge, a world first from a device manufacturer level. “This warranty is yet another way Samsung is showing its commitment to customer service by introducing it as standard on the GALAXY S4 and will be extended to other Samsung devices in the months to come, ” says George Ferreira, VP and COO of Samsung Electronics Africa. The…
Samsung Electronics announced the fourth generation GALAXY S, the GALAXY S4, designed to get you closer to what matters in life and bring your world together. Understanding what matters most to us in our lives, Samsung GALAXY S4 was developed to redefine the way we live and to maximise our fulfilment of life. This sleek and innovative smartphone makes every moment of life very meaningful; it understands the value of relationships, enabling true connections with friends and family; it believes in the importance of effortless experience, making your life easy and hassle-free; and, it empowers your life, taking care of…
Gem Diamonds Limited says work at its Botswana project has progressed to the point where the country rock has been reached which will allow for better rates of progress using conventional drill and blast methods going forward. The company’s Interim Management Statement (IMS) for the Period 1 January to 23 April 2012 also reveals that construction of the plant at Ghaghoo is 90% complete. “No further work will be undertaken until commissioning commences in Q2 2014 to coincide with the ore becoming available.” Ghaghoo has been delayed by strong sand overburden in the tough terrains of the Central Kalahari Game…
PPC Botswana has announced dates for this year’s Number 1 Builder competition. Kick-off of the fourth edition of the search is May 1 and closes on the 31st July 2013. PPC will continue its informative workshops countrywide again this year in major construction sites – Gaborone, Francistown and Maun. Plans are underway to intensify more participation the workshops this year. “Our partners Tshipidi Badiri, AAB, ABCON and China Civil as representatives of major players in the construction industry will bring their respective members to the workshops. Together we can capacitate the industry about safety, standards and trends. PPC will bring…
Norilsk Nickel, the Russian diversified mining company says in enacting its program whereby it pushes to minimize production costs, it has followed the schedule in suspending operation of its Lake Johnston enterprise based in Australia. Under current nickel market trends the company implements a policy of optimizing production site operations ensuring maximum effective utilization of in-house capacities. “Enterprises that are not fully integrated in the company’s production chain (as Lake Johnston) do not provide sufficient profitability levels,” says the Russian company. The company says a possible decision to re-launch Lake Johnston could be based on metals market situation and geological…
The Botswana International University of Science and Technology has provided update to the public on its move to permanent home in Palapye, a town in central part of Botswana. BIUST officially received the keys to the campus earlier this month and has begun the relocation from the Oodi College of Applied Arts and Technology to Palapye. However, BIUST says the new campus does not have adequate facilities and infrastructure to accommodate both the current students and the anticipated intake for the next semester. “The existing sewage treatment system does not have the capacity to treat waste from the number of…
Gem Diamonds Limited (LSE: GEMD) has announced the appointment of its new Chief Financial Officer, Michael Michael, to the company’s main Board. Michael was appointed to the role of Chief Financial Officer on 2 April 2013 following the retirement of Kevin Burford on 1 April 2013. Michael has over 20 years’ experience in financial management, starting his career as a trainee accountant at audit firm, RSM Betty & Dickson in Johannesburg, South Africa in January 1993 and becoming an audit partner at the firm in March 2000. Since 2006 Mr Michael has, in his capacity as Group Financial Manager, been…