A recent report by Fitch Solutions’ research arm, Business Monitor International (BMI), highlights the formidable challenges facing Botswana’s new government in its bid to diversify the economy beyond its heavy reliance on diamonds. The report warns that unemployment may persist at high levels for an extended period. Following the Umbrella for Democratic Change’s (UDC) victory in the October general elections, the administration inherited an economy from the Botswana Democratic Party (BDP) that is largely undiversified...

Botswana Telecommunications Corporation (BTC) is projecting a profit-before-tax ranging from P143 million to P150 million for the six-month period from March to September 2024, reflecting a robust financial performance. This week, the BTC Board of Directors confirmed that the company’s profit before tax for the period is expected to be 52% to 57% higher, translating to an increase of P50 million to P57 million over the P93 million recorded in the same period of 2023....

This is amid ongoing export market challenges In the first nine months of 2024, Botswana’s trade balance registered a significant deficit of P31.5 billion, highlighting ongoing challenges in the country’s export markets. This marks the thirteenth consecutive month of trade deficits since September 2023, with the latest data revealing a P4.4 billion deficit recorded in September 2024 alone. The persistent trade deficit in September 2024 can be attributed to the disparity between export revenues and...

29th November 2024 Botswana Telecommunications Corporation (BTC) has donated an HP laptop, HP desktop computer and twelve (12) months of internet connectivity worth P20,778.00 to the Rehabilitation Centre for Ex Offenders in Thamaga village. Rehabilitation Centre for Ex Offenders is a non-government organisation founded by reformed ex-offenders to provide services and support to inspire active criminals to be law abiding as well as the re-integration of ex-convicts through provision of rehabilitation and crime prevention solutions....

The public is informed that Standard Chartered Bank Botswana Limited (Stanchart) is exploring sale of its wealth and retail banking business (that is, personal banking services). The bank will maintain its services to the corporate and investment banking clients, with a focus on the cross-border business. Stanchart, therefore, intends to identify a potential buyer for that business segment, but will ensure that personal banking customers experience no service disruption during the transition. The decision emanates...

28 November 2024 Botswana Telecommunications Corporation (BTC) is pleased to announce its unaudited interim financial results for the half-year ended 30 September 2024. These results highlight modest growth and reaffirm BTC’s unwavering commitment to delivering value to shareholders and customers. Financial Highlights Revenue: BTC recorded a revenue of BWP 722 million, reflecting a 1% year-on-year increase, driven by shifting consumer preferences towards mobility, data services, and mobile financial solutions. Profit After Tax: Profit after tax...