The Bank of Botswana (Bank) wishes to inform members of the public that, in accordance with Regulation 11 (1) of the Electronic Payment Services Regulations, 2019 (Regulations), Beni Fame (Pty) Limited has voluntarily surrendered its licence to operate an electronic payment service, issued by the Bank on 11 May 2020. However, Beni Fame operations as a licensed Bureau de Change remain unchanged. Accordingly, the public is advised not to transact electronic payment services with Beni...
The Companies and Intellectual Property Authority (CIPA) wishes to inform its valued customers that the Online Business Registration System (OBRS) is currently undergoing an upgrade which will deliver enhancements of the system and an improved user-experience. The public is further informed that in order to migrate to the upgraded system, the OBRS will be offline from the 11th to the 18th March 2025. The system will be back online on the 19th March 2025. Kindly...
Africa’s mineral wealth is no secret. From the opals of Ethiopia to the rubies of Mozambique, the continent sparkles with geological treasure. But there’s a critical question that has long haunted African economies: How can we transform these raw materials into economic opportunity? Enter design innovation — a strategy that could revolutionize how African countries approach their mineral resources. The continent isn’t just sitting on a mountain of stones; it’s perched on a potential economic...
In a recent comprehensive assessment, the Bank of Botswana (BoB) has provided a nuanced overview of the country’s financial ecosystem, affirming its fundamental strength despite emerging macroeconomic challenges. The central bank’s latest report offers a transparent examination of the nation’s financial infrastructure, highlighting both its robust foundations and potential vulnerabilities. Despite concerns about fiscal constraints and decelerating economic momentum, Botswana’s financial system demonstrates remarkable adaptive capacity. The banking sector’s resilience is underpinned by sophisticated regulatory...
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...
Group revenue up 7% to P227.0 million (FY23: P212.8 million) · Fair value gains declined to P11.2m as compared to P44.3m in 2023 · Profit before taxation consequently reduced by 40% to P62.3 million Ongoing sustainability and yield-enhancing improvements of existing properties BSE-listed diversified property group PrimeTime today reports its financial results for the year ended 31 August 2024. Despite a challenging macro-economic environment – particularly in Zambia – impacting on tenant performance, the Group achieved significant progress...
Turnstar Holdings, a prominent property investment and development group listed on the Botswana Stock Exchange, has unveiled ambitious plans to broaden its footprint into the burgeoning markets of East Africa. The company aims to capitalize on its robust growth trajectory in Botswana and Tanzania by venturing into Rwanda and Uganda. Currently, Turnstar Holdings boasts an impressive portfolio comprising seven properties in Botswana valued at P1.4 billion, alongside four properties in Tanzania worth P1.1 billion. Additionally,...
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...
Mascom Wireless brought extra joy to the Northeast district community this festive season through its annual CEO’s Kiddies Christmas Party and the official handover of new houses under its Housing Project. The event, which took place on 25th November 2024 at Senyawe Primary School, blended a lively celebration for children with profound contributions to community welfare. The CEO’s Kiddies Christmas Party, hosted by Mascom CEO Ms. Dzene Makhwade-Seboni, has been a cherished annual tradition aimed...
