In a continuation of its charitable efforts as part of the Bank’s 20th anniversary celebrations this year, Stanbic Bank Maun Branch will be donating a vegetable garden worth P20, 000.00 to Moremi Primary School in Maun on 10th November 2012. Stanbic Bank Maun branch staff members have established a vegetable garden with total of 50 plots, 42 of which are allocated to the students and remaining 8 plots for Stanbic Bank staff and the school teachers. The allocation of plots to staff is a testament to the Stanbic Bank team’s promise to play an increasingly more proactive role in terms…
Author: Editor
Investment Property Databank (IPD) has released its first-ever Botswana property performance report in Gaborone. The IPD Botswana Property Performance Report for the year to December 2011 produced a total return of 20.9%. This figure represents the ungeared total return to directly held standing property investments from one open market valuation to the next. This return on Botswana property is comprised of a 10.8% income return, coupled with 9.2% capital growth throughout the year. Headline inflation in Botswana over the same period, however, was also 9.2% – meaning that growth in nominal terms was in fact stable, and highlights the importance…
The public is hereby alerted that the Bank has detected fake P200 and P100 banknotes in circulation. The fake banknotes are photo/scan copies of genuine banknotes. The counterfeit P200 banknotes bear the serial number AA 5134479 and those of the P100 AA 5472611. The windowed security threads appear as black patches at the back of the counterfeit banknotes. Further more, the fake banknotes are made of ordinary commercial paper, and therefore, have a smooth surface when compared to genuine banknotes. Genuine P200 and P100 banknotes have holographic stripes appearing as a wide silver coloured stripe on the front of the…
On Thursday 15th November 2012 Botswana Accountancy College (BAC) held its inaugural Annual Tourism Seminar. The seminar, the first in what will become an annual event hosted by BAC in Gaborone, attracted a wide network of participants to discuss the seminar’s key theme: “Tourism and Climate Change.” Executive Director of BAC Michael Lesolle says tourism has been identified by Botswana government as a critical skill area in the economy. “It has also been targeted as a readily available economic diversification asset. At both the domestic and regional levels, tourism offers great opportunities for poverty alleviation. In fact, I can confidently…
The Ministry of Environment, Wildlife and Tourism will host the 50th RETOSA (Regional Tourism Organisation of Southern Africa) Board meeting which will be held on 22nd November 2012 at Lansmore Hotel (Masa). RETOSA is an institution of the Southern African Development Community (SADC) and is responsible for the development and growth of tourism in the Southern African region as well as to ensure that the region is promoted as a single but multi-faceted destination. The Board meetings are important avenues for the continuous provision of leadership and direction for tourism growth and development across the region. The forthcoming 50th Board…
The Hotel and Tourism Association of Botswana (HATAB) HATAB is expected to gather for its Festivity Conference on the 3O, November – 2nd December 2012 and the theme “Tourism: a Vital Force for Development, a Service to be Released” at Maun. The guest speaker is Jim Gowans, Managing Director of Debswana Diamond Company. This conference will be attended by business owners and professionals from different economic sectors and also drawing the attention of academia and consultants. The Festivity Conference offers a forum for the professional exchange of knowledge and skills related to the Tourism industry and all its relevant stakeholders.…
Lucara Diamond Corp has reported third quarter results for year 2012 in which it showed revenues stood at US$ 12.7 million. During the period, the Botswana Stock Exchange listed company completed two diamond sales at Karowe totalling 88,579 carats during the third quarter resulting in proceeds of $19.9 million. The company declared commercial production at Karowe as at July 1, 2012 and successfully achieved design throughput by August. At Mothae, a September sale of 4,657 carats resulted in proceeds of $1.5 million. The trial mining program was completed in September and work advanced on its preliminary economic assessment due to…
MICROmega Holdings’ subsidiary company NOSA has secured a cross-border tender with the Botswana Power Corporation for the provision of Occupational Health, Safety and Environmental (HSE) risk management services for the Morupule B Power Station and associated projects in Botswana. The construction of the 600 MW Power Station project is funded by an international consortium, including the World Bank. NOSA will provide the full suite of HSE services such as risk management surveys, assessments, resources, and implement new risk management systems. As part of its support, NOSA is providing the Morupule B Power Station project with five full time Safety Officers…
IAMGOLD Corporation has reported its unaudited consolidated financial and operating results for the third quarter ended September 30, 2012. Revenues were $386.8 million compared to $431.9 million in the third quarter 2011. Net earnings from continuing operations (attributable to equity holders) increased by 56% to $78.0 million ($0.21 per share) from $50.0 million ($0.13 per share) in the third quarter 2011. Excluding items not indicative of underlying operating performance, adjusted net earnings1 (attributable to equity holders) were $60.2 million ($0.16 per share) compared to $112.4 million ($0.30 per share) in the third quarter 2011. This was due mainly to lower gold…
Hodges Resources Ltd has announced the updated resource statement for the Morupule South project in Botswana. Hodges is currently earning 75% in the project and has the right to earn 99%. According to the company, a new Measured Resource of 110 million tonnes (Mt) and Indicated Resources of 173Mt were estimated within the central block of the Morupule South project. This resource upgrade represents the results from the infill drilling completed mid year. Hodges Managing Director Mark Major says the upgrade in the resource estimate brings the project into a new era by advancing the project towards mining in the…