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...
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....
