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Anglo American’s decision to divest from De Beers is more than a corporate restructuring—it’s a potential inflection point that could fundamentally alter the country’s economic trajectory. The diamond that emerges from the depths of Botswana’s earth is more than a glittering stone. It is a symbol of national transformation, a geological miracle that has lifted an entire country from the margins of global economics to a position of relative prosperity. Since the landmark discovery of...
In a move to elevate Gaborone’s status on the global stage, Mayor Oarabile Motlaleng of the Gaborone City Council has unveiled ambitious plans for the inaugural Gaborone City Mayor’s Marathon, scheduled for May this year. This event is more than a race; it is a strategic initiative aimed at addressing the rising tide of non-communicable diseases in Botswana while positioning Gaborone as a premier destination for sports tourism. Mayor Motlaleng, who has been a vocal...
It is currently at 36% capacity The Gaborone Dam, a critical water source for Botswana’s capital city, is facing a paradoxical crisis. Despite experiencing heavy rainfall, the dam’s water levels linger at a critically low 36%, sounding alarms across the nation. This puzzling scenario raises the question: How can a region inundated with rain still struggle with water shortages? The Water Utilities Corporation (WUC) CEO, Gaselemogwe Senai, addressed this conundrum in a recent media briefing....
Vice President says it is bad economics In a riveting parliamentary session, Vice President and Finance Minister Ndaba Gaolathe delivered a blistering critique of Botswana’s contentious vegetable import ban, denouncing it as “very bad economics” during an impassioned exchange with Maun East representative Goretetse Kekgonegile. Gaolathe’s assessment laid bare the policy’s unintended consequences, revealing how a measure designed to bolster local agriculture has instead amplified economic hardships and derailed broader developmental aspirations. With surgical precision,...
The Competition and Consumer Authority (CCA) has unveiled substantial financial difficulties that have obstructed the execution of its Strategic Plan, initiated in 2020. The Authority reported a net deficit of P13 million for the fiscal year concluding March 31, 2024, with liabilities exceeding assets by more than P6.6 million. Furthermore, current liabilities surpassed current assets by P4 million. In its annual report, the CCA disclosed receipt of P42 million in government funding, accompanied by a...
The Non-Bank Financial Institutions Regulatory Authority (NBFIRA) has reported a significant enhancement in compliance across the sectors under its supervision, evidenced by a nearly 30% reduction in penalties, totaling P2.8 million for the fiscal year ending March 2024, down from P3.9 million in 2022. This authority oversees a wide array of entities, including insurance firms, non-bank lenders such as microlenders and pawn shops, capital markets, pension funds, asset managers, and virtual asset service providers like...
Al Cook, the CEO of De Beers Group, has resolutely reiterated the company’s steadfast dedication to sustainable practices and ethical standards within the diamond industry. With a tone of unwavering assurance, he underscored Botswana’s significant position as a global leader in diamond production and an exemplar of responsible mining. Cook’s discourse highlighted the distinctive partnership between Botswana and De Beers, portraying it as a model for the progressive future of the diamond trade. Addressing an...
The economic impact of sports, both directly and indirectly, establishes it as a highly lucrative and transformative sector, according to Tebogo Matebesi, the Deputy Permanent Secretary for Youth, Gender, Sport, and Culture. At the 2024 AUSC forum, Matebesi articulated how sports can transcend its role as a mere pastime to become a formidable economic catalyst, capitalizing on areas like tourism and regional advancement. Drawing from European Commission data, Matebesi noted that in 2012, sports contributed...
