Botswana Stock Exchange

Botswana Stock Market Commentary – Week Ending February 10, 2012 | Afribiz.info

2012-02-13T08:55:00.000+02:00

The week closed on a bearish note with a depressed turnover of BWP 11.1m on a volume of 5.2m shares from the BWP 28.9m realized last week. The top trader this week was property stock Turnstar (+2.4%, BWP 1.28) on 2.7m shares worth BWP 3.5m (31.3% of turnover). Banking stock Barclays (+2.9%, BWP 7.10) emerged the top gainer whereas tourism stock Wilderness (-8.1%, BWP 3.40) topped the losers board. The domestic index closed 0.16% firmer at BWP 6984.37.

List of Companies in Botswana - Bloomberg

2012-02-13T08:52:00.000+02:00

Bloomberg: Companies listed in Botswana

NAME	SYMBOL	TYPE	SUB-INDUSTRY
ABC Holdings Ltd/Botswana (ABCH)	ABCH:BG	Common Stock	Diversified Finan Serv
African Copper PLC (ACU)	ACU:BG	Common Stock	Metal-Copper
Barclays Bank of Botswana Ltd (BCBB)	BCBB:BG	Common Stock	Commer Banks Non-US
Blue Financial Services Ltd (BLUE)	BLUE:BG	Common Stock	Finance-Consumer Loans
Botswana Diamonds PLC (BOD)	BOD:BG	Common Stock	Diamonds/Precious Stones
Botswana Insurance Hldgs Ltd (BIHL)	BIHL:BG	Common Stock	Life/Health Insurance
Chobe Holdings Ltd (CHOBE)	CHOBE:BG	Common Stock	Leisure&Rec/Games
Choppies Enterprises Ltd (CHOPPIES)	CHOPPIES:BG	Common Stock	Food-Retail
Cresta Marakanelo Ltd (CML)	CML:BG	Common Stock	Hotels&Motels
Discovery Metals Ltd (DIME)	DIME:BG	Common Stock	Metal-Diversified
Engen (ENGN)	ENGN:BG	Common Stock	Oil Refining&Marketing
First National Bank of Botswana (FNBB)	FNBB:BG	Common Stock	Commer Banks Non-US
Furniture Mart (FURN)	FURN:BG	Common Stock	Home Furnishings
G4S Security Services Botswana Ltd (G4S)	G4S:BG	Common Stock	Electronic Secur Devices
Imara Holdings Ltd (IMARA)	IMARA:BG	Common Stock	Invest Mgmnt/Advis Serv
Letlole La Rona Ltd (LLR)	LLR:BG	Unit	Real Estate Oper/Develop
Letshego Holdings Ltd (LETSHEGO)	LETSHEGO:BG	Common Stock	Finance-Consumer Loans
Lucara Diamond Corp (LUC)	LUC:BG	Common Stock	Diamonds/Precious Stones
New Africa Properties Ltd (NAP)	NAP:BG	Common Stock	Real Estate Oper/Develop
Primetime Property Holdings Ltd (PRIMETIM)	PRIMETIM:BG	REIT	Real Estate Oper/Develop
Sechaba Breweries Ltd (SCHB)	SCHB:BG	Common Stock	Brewery
Sefalana Holding Co (SFLN)	SFLN:BG	Common Stock	Investment Companies
Standard Chartered Bank Botswana Ltd (SCBB)	SCBB:BG	Common Stock	Commer Banks Non-US
Turnstar (TURNSTAR)	TURNSTAR:BG	Common Stock	Real Estate Oper/Develop
Wilderness Holdings Ltd (WIL)	WIL:BG	Common Stock	Travel Services

LETSHEGO Income Statement - Letshego Holdings Ltd - Bloomberg

2012-02-13T08:51:00.000+02:00

Income Statement for Letshego Holdings Ltd (LETSHEGO)

Letshego Holdings Ltd on Bloomberg

2012-02-13T08:50:00.000+02:00

Interactive Stock Chart for Letshego Holdings Ltd (LETSHEGO)

Botswana Metals in rights issue to raise cash for exploration

2012-02-09T12:03:00.000+02:00

Sunday Standard: “The funds will be used to continue exploration at BML’s three discovery areas at Airstrip Copper, Maibele North and Dibete,” Botswana Metals said.

“The funds will also be used to test additional new targets identified as VTEM anomalies to the East at Takane (PL54/98) and cash for general working capital requirements over the next 12 months,” it added.

BIHL CEO brings new opportunities and businesses to the group

2012-02-09T12:02:00.000+02:00

Sunday Standard: “We must anticipate their needs quickly, provide exceptional service and ensure our products add value to the customers,” he says. Hassam says his plans of bringing the organization in order to sustain BIHL's contribution to the country's development at the highest level includes the growth of the BIHL Group by bringing new opportunities and businesses to the BIHL stable.

“My job is to provide leadership to the BIHL Group to ensure shareholder growth in value in a responsible and sustainable manner and be the steward to the BIHL assets and interest,” he explains.
According to Hassam, there will obviously be pressure for anyone in the CEO’s role.

“I, however, am comfortable in handling the pressure; this is due to the highly experienced and competent team we have at BIHL; support we have from our valued customers, of which am thankful and as a result of the supportive stakeholders,” he states.

African Copper secures additional funding from ZCI

2012-02-09T12:01:00.000+02:00

Sunday Standard: “USD1 million will be invested in increasing the trucking of ore from the nearby Thakadu deposit to the Mowana facilities, USD2 million will be invested in a Larox Filter to be installed at Mowana to reduce moisture content in exported concentrate and USD2 million of the Facility will be used for general working capital purposes,” the company said.

Botswana exports record amount of diamonds in 2011

2012-02-09T11:47:00.000+02:00

gabzfmnews: diamondsOfficial figures indicate that Botswana exported a record amount of diamonds, worth 4.34 billion dollars last year.

Firestone Diamonds down despite positive update on operations | 7 February 2012

2012-02-09T11:10:00.000+02:00

Stock Market Wire: Shares in Firestone Diamonds (LON:FDI) fell despite a positive update on its operations in Lesotho and Botswana and the sale of all the goods on offer at its rough diamond tender.

Chief executive Tim Wilkes said: "We are very pleased with the performance of the plant at Liqhobong over the past two months.

"We are implementing a programme of continued improvement and enhancement to maximize the recovery of diamonds and we are confident that we will see positive results over the coming weeks.

"The performance of the mineral resource has been outstanding with respect to grade, mine call factor and diamond assortment.

"The recovery of three plus 100 carat diamonds, albeit broken, confirms Firestone's conviction that the resource has the ability to produce much higher value diamonds than recovered to date.

"These positive indicators bode well for Firestone as we shift our focus towards phase 2 of the project, being the development of a world class diamond mine and a purpose built plant facility."

Shares in Xstrata (LON:XTA) were also down after it agreed an all-shares merger with Glencore that would create a $90bn natural resources group.

Xstrata's operating businesses and Glencore's marketing functions will continue to operate under their existing brands.

It is proposed that the combined entity will be called Glencore Xstrata International, listed on the London and Hong Kong Stock Exchanges, with its headquarters in Switzerland and will continue as a company incorporated in Jersey.

Xstrata chief executive Mick Davis said: "A merger between Glencore and Xstrata offers a unique opportunity to create a new business model in our industry to respond to a changing environment.

"It is the logical next step for two complementary businesses, each with an outstanding track record of shareholder value creation, entrepreneurial management and a proven ability to spot valuable opportunities and capitalise on them."

Norilsk Boosts African, Australian Nickel to Cut Russia Reliance

2012-02-09T10:24:00.000+02:00

Bloomberg: The company is preparing to start its Honeymoon Well project in Australia, with a designed capacity of 40,000 tons of nickel a year, and is working to expand resources at its Tati Nickel project in Botswana, according to the statement.

Downsizing will impoverish Batswan

2012-02-09T09:50:00.000+02:00

The Botswana Gazette: Dr Keitseope Nthomang, senior lecturer at UB and social policy specialist concurred that downsizing is going to impoverish the poor. “They will fall back into the social safety net system which is currently not being sustained, and as such there will never be empowerment. The government is inefficient and cutting of jobs is not being productive,” said Nthomang. He pointed out that emphasis by the government should not be about money but efficiency, productivity and the impact.

Tourism earned P1 billion during festive season

2012-02-09T09:48:00.000+02:00

The Botswana Gazette:

This year’s World Wetlands Day theme was, ‘Wetlands and Tourism a Great Experience - Responsible Tourism Supports Wetland and People’. Mokaila said the revenue earned through tourism last Christmas showed that the industry was a force to reckon with as the government tries to diversify the economy.

About 150,000 Batswana living around the Okavango Delta make a living from tourism and activities around the delta. “There has to be a balance between development and conservation because wetlands like the Okavango Delta and Chobe River bring life to the people near them. We need to draft a policy that ensures sustainable management of the local wetlands because of their good tourism,” he said.

CIC dismisses hostile takeover claims

2012-02-08T15:08:00.000+02:00

BG reporter TSX and Botswana Stock Exchange (BSE)–listed CIC Energy has reaffirmed its commitment to Mmamabula Energy project with its president dismissing comments that the company was selling its crucial project to an Indian energy company. “There is this misconception that we were selling the project. We were contacted by JSW. We considered it and we agreed,” CIC Energy president, Gregory Kinross said Tuesday in Gaborone. In June 2011, Kinross bowed to intense political pressure and withdrew CIC Energy planned bid to engage in a US$418 million all-cash-offer from Indian power utility giant, JSW Energy. When government declined to sign crucial acquisition documents allowing a hostile takeover, the Bombay Stock Exchange-listed energy giant pulled out of the deal. On Tuesday, Kinross could not explain the decision to abandon an 8-month pursuit by JSW, but reiterated his commitment to the 300-mega watts (MW) coal-fired energy project in eastern Botswana. “The deal fell through,” he said on the sidelines of a one-day coal conference, which sought to update investors on the latest developments on coal mining and exploration in Botswana. Analysts say the decision to abandon the P10 billion Mmamabula coal-fired energy project was motivated by South Africa’s decision to opt out of energy import from Botswana. This forced CIC Energy to restrain its ambitions to export 1200 MW power to South Africa, following developments in May 2011 that a second Integrated Resource Plan in South Africa did not provide any opportunity to supply power to South Africa. This saw the company almost putting the ambitious Mmamabula Energy project on hold. In 2008 the Toronto-based energy giant completed a feasibility study on the proposed 1600 kilometre railway project to transport coal to a seaport. Coordinator of the Transport Hub, Thapelo Leareng, explained that the P60 billion coal transport project intends to involve the private sector in the development of both the railway and the port. With over 210 billion tonnes of coal reserves, government is keenly eyeing an opportunity to export 90 million tonnes of coal annually mostly to satisfy Asia’s insatiable appetite for energy. “During the first year, we want to transport 25 million tonnes, rising to 65 million in five years to make the project feasible,” he explained. Government expects to achieve its 90 million tonnes target in the next 10 years. Leareng explained challenges associated with transporting millions of tonnes of coal to a seaport. The government has an option of using the Trans-Kalahari railway route dubbed the Mmamabula-Gobabis-Walvis Bay route, which is estimated to cost over P67 billion (or US$11.16 billion). Leareng is aware of the many conservation and environmental challenges associated with constructing a 1600 km railway line. Government has also signed three Memoranda of Understanding with Mozambique and Zimbabwe regarding the proposed Porta Techobanine Project in Mozambique. To Kinross, the main point is about ensuring that coal reaches its intended destination. He explains that CIC Energy is prepared to assist government. “We don’t care which route, we are ready. We completed pre-feasibility study in 2008. We are very committed to the project.” Coal prices remain stable despite high demand from Asia, especially from China.

Lotsane Dam is complete

2012-02-08T09:36:00.000+02:00

By Kgotsofalang Botsang PALAPYE - The country's sixth largest dam is complete. The Maunatlala-based Lotsane Dam, with a water holding capacity of 40 million cubic metres, is expected to benefit 22 Tswapong villages. The tender for the dam construction was awarded to Sinohydro Corporation in January 2009 at the cost of about P724 million. The project's resident engineer, Mr Moghes Mekonen said in an interview that the dam had started holding water, however he said since the catchment area had not experienced heavy rainfall, the water was not enough. "The dam is filling up but it has not reached a level where we could start supplying water to the 22 identified villages." Mr Mekonen said construction of the 1.4km dam and associated works such as the 180m wide spillway, an irrigation pipeline and a pump station were complete. "Each and every stage of the project was supervised and we applied quality control measures," he said. The dam was initially expected to be complete by October 2011 but the date was extended to December 2011. The dam is also expected to drive the promotion of economic diversification and uplift the socio-economic status of the local communities through the provision of irrigation water for a horticultural project covering 250 hectares. BOPA

Recession calls for prudent spending

2012-02-08T09:24:00.000+02:00

MAUN - The managing director of Maun Lodge says business owners should financially discipline themselves and be selective in their spending. Speaking at a budget review session organised by Stanbic Bank, Mr John Wellio said following the presentation of Botswana's 2012/2013 budget by the minister of finance and development planning, business owners should be mindful of the stern warning made by government. "The minister stated that this year's budget dictates that we must operate within a severely constrained budget and that the budget was prepared under conditions of considerable uncertainty with a possibility of yet another recession looming," he said. Mr Wellio indicated that it is going to be a tough year for everyone. "As we are all aware, government is a major player in the economy and we all depend on government spending," he stated. He further said if government does not spend, it means the private sector has got very little in economic activity. "When government tightens up, the private sector gets a shiver," he noted. Mr Wellio said businesses should get their priorities right so that they can stay afloat and cautioned that if they do not tread carefully they will be the losers. Mr Wellio said it was worrying that the minister stated that Botswana's investment climate is not conducive. "A conducive business environment is necessary if we have to diversify the economy," he said.

Debswana workers fear radiation exposure

2012-02-06T11:36:00.000+02:00

Mmegi Online: "We are worried that some people might in the long run suffer from diseases such as cancer caused by constant exposure to radiation," Ramoitoi said. According to the De Beers website, Scannex is a low X-ray dose full body scanner useful for resource protection. Its primary application is the detection or deterring of illegal diamond possession and trade by personnel at diamond mining operations. The website added that images produced by Scannex are of such high resolution that it can detect diamonds as small as one carat - wherever they are located on a human body.

DEBSWANA LAUNCHES NEW SAFETY PROGRAMME

2012-02-06T10:00:00.000+02:00

The Voice The ECOHS initiative which was officially launched by the Chief Executive Officer of the Botswana Chamber of Mines (BCM) Charles Siwawa in Orapa on Tuesday is expected to achieve total safety for the diamond mining’s employees, its stakeholders and the surrounding community.

“It is a leap from a year of injuries to a year of zero harm , charaterised by zero tolerance to substandard conditions and behaviours; zero repeats, zero pollution and negative biodiversity impacts. A year in which our embrace the fact that all injuries and occupational illness can be prevented”, said the Orapa Mine Plant Manager, Kgolagano Banabotlhe.

De Beers to Switch Its Diamond Trading Activities to Botswana From London

2012-01-23T18:52:00.000+02:00

Bloomberg

“De Beers should benefit from a longer agreement as it removes the periodic disruption in having to wrestle with a new pact every five years,” Des Kilalea, an analyst at RBC Capital Markets Ltd. in London, said in an e-mailed note. “In a world with looming tightness in rough diamond supply, the certainty of a long-term agreement over the world’s largest source of rough is welcome.”

Botswana IT service performance poor

2012-01-23T10:49:00.000+02:00

The main problem or challenge in Botswana is Wide Area Network (WAN) and Application service delivery. If for example you want to download a form from the Ministry of Trade and Industry website to register a company, you will be lucky to manage to download and print the form. It takes more than 10 minutes to buy the Government Gazette because the system is very slow. This is true with most government and parastatals IT systems, especially revenue systems, which normally involve serious authentication processes. I am not attacking any ministry or company here; I am just using them as examples. Standard Chartered Bank Botswana is also often affected by a high system downtime and it is likely that it is because of their WAN Service by BTC. So the government WAN, as well as WAN networks for the private sector, including banks and parastatals are not optimized to deliver optimum quality of service. This is proven by a high system downtime Batswana customers often experience. BTC is a monopoly in providing WAN services. However the problem does not lie only with BTC, companies and government need good network design if they are need increased performance of their networks and maximize use of their bandwidth.

The Recent Financial Crisis: Some Reflections on its Likely Financial and Economic Effects on Botswana

2012-01-12T17:13:00.000+02:00

Before I conclude let me re-emphasise two points: (a) the need for a timely, accurate and sector specific data to examine the depth, scope and transmission mechanisms of the possible effects of the crisis on the Botswana economy. And (b) the focus of any policy must be to search best way possible to manage the transition rather than jump-start the economy, as is the case in other countries.

Botswana Stock Exchange`s biggest listing ever - Investment Insights

2011-12-05T11:33:00.001+02:00

Moneyweb

Chief executive of Choppies talks to Moneyweb about the company's plans. (TRANCRIPT)

G4S plans share split to ease tradability

2011-08-30T08:17:00.000+02:00

The Monitor: ""The ordinary shares have thus become too costly for acquisition by small investors resulting in reduced liquidity and tradability of G4S's shares," Mokgosana said. He added that the company's directors then proposed a ten-for-one sub division that is to be approved at the next extraordinary general meeting in September."

'via Blog this'

Impact sheds 40% to focus on Botswana exploration

2011-07-27T15:12:00.000+02:00

Botswana Gazette: "“The sale of the Nowthanna uranium deposit has come at a good time for Impact and reflects the Company’s continuing primary focus on its highly prospective exploration assets for uranium and nickel-copper-PGE’s in Botswana in Africa,” said Dr Jones, adding that, “The consideration we will receive will be used to further accelerate our exploration programmes on the Botswana Uranium Project where a major drill programme is in progress and the Xade Nickel-Copper-PGE Project where a major airborne magnetic survey has commenced” he said."

Hunt begins for new DTCB boss

2011-07-27T14:59:00.000+02:00

Mmegi: "'I will be retiring at the end of December 2011 after 42 years of service with the company,' McDonald said in a statement. 'These 42 years I have invested in the De Beers Group of Companies were of tremendous value and I look forward to spending time with my family.'"

Paragon Diamonds wins licence in Botswana

2011-07-27T14:55:00.000+02:00

IBTimes: "The award of a new kimberlite prospecting licence in Botswana is a strategic step forward. In combination with our Lesothoan, Zambian and Tanzanian assets, it further strengthens the company's development into a kimberlite explorer and developer in Southern Africa"

Discovery Metals on track for copper mine

2011-07-27T14:45:00.000+02:00

Discovery Metals on track for copper mine: "In addition to project and equipment finance, the banking syndicate will provide a $US25 million overrun and working capital facility plus hedging lines for both copper and silver production."

Diamonds.net - Lucara Says South Africa's Steel Workers Strike May Impact AK6 Mine Development

2011-07-17T22:15:00.000+02:00

Diamonds.net - Lucara Says South Africa's Steel Workers Strike May Impact AK6 Mine Development

Second Take: Botswana mining

2011-07-04T10:19:00.000+02:00

The world's premier mining and mining investment website Impact Minerals Limited [IPT] - Drilling Under Way on Botswana Uranium Project

2011-06-29T12:33:00.000+02:00

Mineweb: "'These styles of mineralisation have only been reported by Impact in Botswana and the drill programmeis designed to test this potential for such new uranium deposits as well as deposits in Karoo sedimentaryrocks similar to those at the large Letlhakane Uranium Project about 150 km to the north' Dr Jones said.There are four priority drill targets, all located west of the town of Mahalapye."

National brand nears global recognition

2011-06-29T10:17:00.000+02:00

The Monitor: "The Botswana Export Development and Investment Authority (BEDIA) says the national brand's path to registering as a trademark internationally, is proceeding seamlessly with approval expected to be granted by December."

Firestone Diamonds Listing on Botswana Stock Exchange

2011-06-13T10:47:00.000+02:00

Firestone Diamonds Listing on BotswDiamondNe.ws: "Philip Kenny, Chairman of Firestone Diamonds, commented: “Firestone Diamonds is currently the only company selling diamonds by tender in Botswana, both from the BK11 Mine in Botswana and the Liqhobong Mine in Lesotho. We are very pleased to be able to offer Botswana-based investors the opportunity to participate in the growth that we expect as production from Firestone’s mining operations continues to increase and the shortfall in diamond supply continues to drive rough diamond prices higher.”"

Botswana Holds Off Unions, Keeps Top Africa Credit Rating, Moody’s Says

2011-06-13T10:45:00.000+02:00

Bloomberg:

"The attitude to the strike “signals to us that the government is very serious about its budget strategy,” Lindow said. “The easy thing would be to give in."

"They’ve been hit hard by the crisis, but they’ve bounced back,” Lindow said. “They have ambitions to reduce very substantially the size of spending relative to GDP. That’s what we’re trying to ascertain, whether that will indeed happen and how soon."

BOTSWANA DIAMONDS IDENTIFIES POTENTIALLY DIAMONDIFEROUS ROCK LAYERS IN CAMEROON LICENSE

2011-06-13T10:42:00.000+02:00

Tacy LTD: "Botswana Diamonds reports that its geologists have identified sequences of sedimentary rock layers in several localities in the east of its Cameroon diamond license. The AIM-listed miner holds an 85 percent share of the reconnaissance license, which lies immediately to the south and west of C&K Mining's Mobilong license area, where recent reports suggest that a very significant reserve of diamonds has been discovered and where a mine estimated to produce one million carats a year is reportedly coming on stream by 2012. "

Strike to undermine GDP forecast - economist

2011-06-11T11:23:00.000+02:00

Mmegi Online "'The intended fiscal adjustment, aimed at bringing the budget into balance by fiscal year 2012/2013, is facing its most severe test yet,' Khan says in the report. 'An outright quarter-on-quarter contraction in non-mining GDP now looks plausible in the second quarter of this year, putting at risk our full year GDP growth forecast of 4.9 percent, despite an overall increase in government spending and a healthy rebound in diamond sales.'"

Fraudsters hit BSE investor and brokerage

2011-06-11T11:09:00.000+02:00

Mmegi Online

Botswana’s Economy Is Back on Strong Growth Path on Gem Exports, IMF Says

2011-06-01T15:52:00.000+02:00

Bloomberg

Botswana’s economy is “back onto a strong growth trajectory” due to a rebound in diamond exports and good government policies, the International Monetary Fund said. While inflation has accelerated there isn’t firm evidence of generalized price pressures in the southern African nation’s economy and the IMF supports the central bank’s neutral stance on interest rates, the Washington-based institution said in a statement on its website. The government must continue efforts to reduce its large state wage bill, it said.

The world's premier mining and mining investment website Exploration program finalized for Botswana coal projects & update on Kenya coals basin tender

2011-06-01T15:51:00.000+02:00

Mineweb

Key Points:

Initial exploration drilling program for Botswana finalised following receipt of report from the Company's independent South African consulting geologists
60 borehole drilling program to be completed in 2011 through two phase exploration drilling program to commence upon appointment of Botswana drilling contractors
Exploration drilling to focus initially on the Serowe Thermal Coal Project with subsequent drilling to commence on the Kweneng Thermal Coal Project
Tender documents received from the Kenyan Ministry of Energy for 4 coal concession blocks in the Mui Coal Basis with submissions due in July 2011

Emerging mid-tier South African focussed coal producer Continental Coal Limited (ASX: CCC) ("Continental" or the "Company") is pleased to provide an update on its planned exploration activities on its Serowe and Kweneng thermal coal projects in Botswana (together the "Projects") following receipt of the planned initial exploration and drilling programs for each of its projects from its independent geological consultants. The Company is also pleased to confirm that it has received a "Request for Proposals for Concession of Mui Coal Blocks" and the accompanying data and will be submitting its detailed proposal as required to the Kenyan Ministry of Energy in July 2011. "We are extremely pleased to have finalised our planned initial exploration program for our Botswana prospecting licenses and to be in a position of being able to commence work in-country very shortly. In addition, having now received the tender documents from the Kenyan Ministry of Energy we are busy preparing our submission to position ourselves to secure one of the 4 exciting coal concession blocks available." commented Continental's Executive Director, Jason Brewer. "It is very pleasing to be able to offer our shareholders such exploration upside in these highly prospective and strategically located coal regions, particularly coupled with export and domestic thermal coal sales from our two producing open cast mines in South Africa and ahead of planned announcements of the Penumbra Coal Project development and funding plans due to be released to the market in the coming days" Mr Brewer added.

S&P affirms Botswana's ratings

2011-06-01T15:48:00.000+02:00

Business LIVE

Standard & Poor's Ratings Services has affirmed its 'A-' long-term and 'A-2' short-term foreign currency sovereign credit ratings on the Republic of Botswana and on the Bank of Botswana, the country's central bank.

"We also affirmed the 'A' long-term and 'A-1' short-term local currency sovereign credit ratings on Botswana and its central bank. The republic's 'A+' transfer and convertibility assessment is unchanged. The outlooks on Botswana and the Bank of Botswana are stable," the rating agency said. It said the affirmation reflects Botswana's strong public sector balance sheet, even though this recently deteriorated. It also reflects its well-managed minerals-based economy, and long record of political stability. These factors are somewhat offset by the country's narrow economic base, which is vulnerable to shocks; heavy reliance on diamond sector performance, despite efforts to diversify; fiscal challenges; and still-significant development needs. "Botswana's stable politics, track-record of prudent macroeconomic policies, and high level of transparency are strong by emerging market standards. However, key structural credit constraints are the country's narrow economy, together with income levels that are amongst the lowest in the 'A' category, high unemployment, and the impact of the HIV/AIDS pandemic. "Botswana is the world's top producer of diamonds and the diamond industry remains the country's economic locomotive. Abundant diamond resources, well-managed and exploited, and a social-democratic-style welfare state, have helped Botswana to develop from one of the world's poorest countries to a middle-income country with GDP per capita of about $7,500 in 2010. "The global downturn hit Botswana hard, as the country's key commodity markets, in particular the diamond market, contracted sharply and external demand slumped. But since mid-2010, the market has rebounded sharply. Real GDP contracted by 4.8% in 2009, but expanded again by an estimated 7.2% in 2010. Our projections indicate that it should remain fairly strong in fiscal years 2011-2013, provided that the recovery in the global demand for diamonds continues. "The stable outlook balances the fiscal difficulties the government faces with a strong public sector external balance sheet. The rating could come under pressure if the government suffered further fiscal slippage and did not meet its consolidation plans, due to weaker than anticipated revenues or to higher than forecast expenditures, which could lead to greater and more rapid dissipation of asset buffers. "Botswana's creditworthiness could improve if reforms are implemented more quickly, dependence on mining continues to decline, and private sector development broadens. However, we do not expect this to be achieved within the current forecast period," S&P said.

Sono Resources Appoints Dr. Luc Antoine as Director

2011-06-01T15:47:00.000+02:00

PRNewswire

Sono Resources Inc. (OTCQB: SRCI) reports that Dr. Luc Antoine has joined Sono as a Director of the Company. Dr. Luc Antoine is a professional geologist and geophysicist who has worked on the African continent in such countries asAlgeria, Libya, Tanzania, Sudan, Mozambique, South Africa, Angola, Congo, Gabon, Mauritania, Senegal, Morocco andBotswana for over 20 years. His expertise is focused on exploration, data security and quality control, data acquisition, and on data interpretation. Dr. Antoine is co-founder and technical director of GeX Surveys, a company specializing in airborne geophysical data acquisition contracting services since 2006. He is also co-founder and technical director of Geoscientific Exploration Services, a company offering geological, geotechnical, remote sensing and geophysical consulting and contracting services since 1999. During his career, Dr. Antoine has been extensively involved in developing exploration programmes for leading mining and mineral companies including Anglo American Gold Corporation (1986 to 1987) and Anglo American Gold's base metals operations (1980 to 1986), as well as Falconbridge Exploration (1973 and 1978 to 1979). He also taught exploration methodology at the University of the Witwatersrand from 1987 to 2002. A resident of South Africa, Dr. Antoine is an Associate Member of South African Geophysical Association (President 1993), a member of the Geological Society of South Africa, the European Association of Geoscientists and Engineers, and the Society of Exploration Geophysicists.

CIC ENERGY TO OPEN DATA ROOM TO OTHER POTENTIAL ACQUIRERS

2011-06-01T15:45:00.000+02:00

CanadianBusiness.com

CIC Energy Corp. ("CIC Energy" or the "Company") (TSX:ELC, BSE:CIC Energy) today announces that its board of directors has approved the termination by the Company of the Acquisition and Supplementary Agreements with JSW Energy Limited ("JSW") in accordance with their terms as the proposed acquisition of the Company by JSW will not be completed by the required deadline of May 31, 2011. A notice of termination will be sent to JSW on June 1, 2011. CIC Energy believes shareholder interests will be better served by pursuing an alternative transaction. While CIC Energy is willing to continue discussions with JSW Energy, any such discussions would have to be on a non-exclusive basis. CIC Energy intends to open its data room to potential acquirers as soon as practicable following termination of the agreements with JSW. CIC Energy has already received several expressions of interest as was reported in the Company's news release of April 28, 2011. It is expected that CIC Energy advisors, Deutsche Bank Securities Inc. and Motilal Oswal Investment Advisors Pvt Ltd., will begin speaking with the advisors of prospective acquirers shortly thereafter. "It is disappointing that after almost eight months the transaction with JSW has not been completed despite several extensions to the original deadline," said Greg Kinross, President of CIC Energy, "we thank shareholders for their patience and understanding and remain committed to unlocking value for shareholders". "We look forward to beginning discussions regarding the acquisition of the Company with other major corporations that have expressed interest in CIC Energy in recent months, as well as other parties," said Warren Newfield, CEO of CIC Energy. "We believe this is the best course of action for shareholders. We are prepared to continue the process with JSW, but only on a non-exclusive basis."

Arbitration by GCL Botswana: In respect of the arbitration process recently initiated by GCL Botswana Limited ("GCL Botswana"), CIC Energy continues to regard it as being entirely without merit. Although discussions have taken place between the Company and GCLBotswana with a view to settling the dispute and terminating the underlying shareholders' agreement, the situation remains unresolved. The Company is open to further discussions with GCL Botswana, but is considering all of its options to resolve its position.

Conference Call: CIC Energy will host a conference call with Warren Newfield, CEO and Chairman, and Greg Kinross, President to discuss this news release on Tuesday May 31, 2011 at 4:00 p.m. Eastern Time (10:00 p.m. SAST). To participate in the conference call, investors and media from the US and Canada should dial 1-888-231-8191 prior to the scheduled start time. International callers should dial +1 (647) 427-7450.

CIC confident of finding new buyer after JSW deal breaks up

2011-06-01T15:39:00.000+02:00

CIC confident of finding new buyer after JSW deal breaks up

CIC Energy is optimistic that it will receive offers from companies interested in its power-generation and coal-export projects in Botswana, after the firm terminated a takeover agreement with India's JSW Energy, chairperson Warren Newfield said on Tuesday. The company has been approached by “more than two” parties and is not concerned that it will not be able to secure a new offer, CIC executives told analysts on a conference call. They declined to provide more details, but, when pressed, conceded that the potential suitors included interest from India, as well as elsewhere in the world. CIC said earlier on Tuesday that it was also still open to nonexclusive negotiations with JSW, but that it “believes shareholder interests will be better served by pursuing an alternative transaction.” Shares in the company rose 5,3% on Tuesday, to C$3,16 apiece by 15:59 in Toronto. JSW, an Indian power utility, agreed in November last year to buy CIC Energy for C$7,75 a share, or about C$422-million. The parties have been trying to close the deal since then, and had set a deadline of May 31 for certain conditions to have been waived or met. JSW had wanted assurances from the government of Botswana related to a future power purchase agreement but was not able to reach an agreement before the cut-off date. CIC now intends to send a letter of termination to JSW, and will then open its data room to other potential buyers as soon as possible. “It is disappointing that after almost eight months the transaction with JSW has not been completed despite several extensions to the original deadline,” CIC president Greg Kinross said in a statement.

Continental Coal finalises Botswana exploration program, receives Kenya Mui Coal Basin tender documents

2011-06-01T15:37:00.000+02:00

Proactiveinvestors (AU)

Exploration drilling is to focus initially at Serowe with subsequent drilling to commence at Kweneng. Jason Brewer, Continental’s executive director, said “we are extremely pleased to have finalised our planned initial exploration program for our Botswana prospecting licenses and to be in a position of being able to commence work incountry very shortly. "In addition, having now received the tender documents from the Kenyan Ministry of Energy we are busy preparing our submission to position ourselves to secure one of the 4 exciting coal concession blocks available.”

Bouquet joins Botswana Diamonds as non-exec director

2011-06-01T15:32:00.000+02:00

Proactiveinvestors (UK)

"We have exciting years ahead in this company and I am sure that his wide diamond pipeline knowledge and commercial experience will be an asset to Botswana Diamonds and a complement to the expertise that we already have within the company." On appointment, Bouquet will be granted options over 250,000 ordinary shares in the company.These options have an exercise price of 6 pence, vest immediately, and expire on 27 May 2018.

SABMiller’s Sechaba Breweries Says Full-Year 2010 Profit Increases 10%

2011-06-01T15:16:00.000+02:00

Bloomberg: "Botswana’s biggest beermaker, said full-year profit rose 10 percent to 240 million pula compared with a year earlier. The improvement in net income for the year through March was due to a change in the calculation of a 40 percent state tax on alcohol, the company said in a statement published in the Gaborone-based Mmegi newspaper today. It declared a dividend of 24 thebe a share. Clear beer sales declined 0.2 percent compared with a year earlier and sales of sorghum beer fell 1.2 percent, the company said."

Botswana says to raise bank reserve requirements

2011-06-01T15:15:00.000+02:00

Reuters: "Botswana's central bank on Tuesday said it would raise banks' primary reserve requirement to 10% from 6.5% to reduce excess liquidity. 'Normally, an increase in the primary reserve requirement ratio implies monetary policy tightening,' the bank said in an statement. 'However, in this instance, the increase is unlikely to constrain supply of credit as, by definition, the funds mopped through the Bank of Botwana Certificates are 'excess' to what is required for productive lending.'"

Hana Mining Ltd.: Infill Drilling Continues to Encounter Thick Intersections of Copper-Silver Mineralization Along the North Limb of the Banana Zone

2011-05-30T17:25:00.000+02:00

Highlights of Recent Drilling Results:

Drilling is progressing as scheduled. Total drilling to date is approximately 12,297 metres (core and reverse circulation).
These latest results confirm the continuity of copper-silver mineralization along the North Limb of the Banana Zone.
Intercepts of 0.56% Cu and 11.0 g/t Ag over 27.9 metres (including 3.49% Cu and 69.0 g/t Ag over 1.5 metres) in hole HA-265-D, 0.47% Cu and 3.0 g/t Ag over 27.6 metres (including 1.24% Cu and 7.0 g/t Ag over 7.9 metres) in hole HA-273-D, 0.61% Cu and 11.0 g/t Ag over 16.8 metres (including 1.02% Cu and 21.0 g/t Ag over 8.6 metres) in hole HA-267-D and 0.54% Cu and 9.0 g/t Ag over 21.4 metres (including 0.89% Cu and 13.0 g/t Ag over 8.5 metres) in hole HA-260-D.

Discussion of Results:

The infill drilling program at North Limb North has confirmed that copper-silver mineralization is continuous and has consistent widths and in some sections it bifurcates into two high-grade zones within a very wide, lower grade, mineralized envelope (Figure 3). This drilling will allow for the conversion more mineral resources from the Inferred category into the Indicated category.

To view the three images associated with this release, please click the following link:http://media3.marketwire.com/docs/530hmgmaps.pdf.

Reinstate dismissed workers, abolish ‘no work, no pay’, utilise pyramid scheme, or strike continues

2011-05-30T17:24:00.000+02:00

Botswana Gazette: "Solidarity and perseverance have brought us this far and no one should be intimidated by anyone. We are going back to work together!"

Botswana on the brink of collapse?

2011-05-30T15:10:00.000+02:00

Business LIVE

"This shows that this man is undermining this country," Boko said, adding that Khama should step down because he had failed to deliver on the principles he enunciated when he was inaugurated as president in 2008.

17th June Dividend

2011-05-30T13:32:00.000+02:00

BancABC: "Notice is hereby given that a final dividend of 33.52 thebe(gross) per ordinary share has been declared. This dividend will be payable on or about the 17th June 2011 to those shareholders registered at close of business on the 3rd June 2011."

Peermont may mull listing after restructuring

2011-05-30T11:59:00.000+02:00

BusinessDay: "PEERMONT Global, the gaming and hotel group that owns Emperors Palace in Johannesburg, may consider a future listing on the JSE after it has completed a restructuring of its balance sheet. Peermont hoped to finish a review of its capital structure by the end of this year, CEO Anthony Puttergill said on Friday. 'We certainly may consider doing a listing at some time. We first need to finish our capital restructure, which would significantly strengthen our balance sheet.' The debt that was being reviewed was a shareholder loan worth about R3,3bn, he said."

History of the common monetary area

2011-05-30T11:56:00.000+02:00

"The common monetary area (CMA) of the rand in southern Africa has its roots in an informal monetary union that made the South African pound the only legal tender in SA, the former Bechuanaland (now Botswana), Lesotho, Namibia and Swaziland after the establishment of the SA Reserve Bank in 1921."

Recovery punctuated by rising inflation

2011-05-26T11:44:00.000+02:00

Botswana Business Diary

“For Botswana, the current state of the economy and the assumptions on both the domestic and external economic outlook, as well as the inflation forecast, exerts pressure to maintain the Bank Rate at 9.5 percent,” read a statement from the Bank of Botswana (BoB).

African Copper copper producer and exploration company, announces a production update for its Mowana and Thakadu Mines.

2011-05-26T09:59:00.001+02:00

LONDON, UNITED KINGDOM--(Marketwire - May 19, 2011) - African Copper Plc ("ACU" or the"Company") (AIM:ACU)(BOTSWANA:AFRICAN COPPER), the AIM and Botswana listed copper producer and exploration company, announces a production update for its Mowana and Thakadu Mines.

Japanese tsunami hit Botswana where it hurts most

2011-05-26T09:56:00.000+02:00

Mmegi

According to a De Beers 2010 Report Japan last year consumed 11 percent of the 33.5 million carats sold worldwide. This year, De Beers had projected to up production to 38 million carats, a situation that would have seen 4.2 million carats consumed in Japan alone.

De Beers bullish on new diamond deposits

2011-05-26T09:46:00.000+02:00

Mmegi

"We have invested a substantial amount of money in trying to extend the lifespan of mines in Botswana, particularly with the Cut 8 project at Jwaneng where we will extract 100 million carats until about 2025," he said.

"But thereafter, we are confident that we will find more deposits in the country, but the key will be sustainable mining as well as beneficiation as one carat mined means one less carat to mine." However, Oppenheimer would not be drawn into discussing progress on the on-going negotiations between government and De Beers.

Not a scrap of info on copper cable market

2011-05-26T09:35:00.000+02:00

Mmegi

Addressing scrap metal dealers in Gaborone recently, Kabo Marage, who is CID Officer for the South Central Division that covers Gaborone, Ramotswa, Palapye, Mahalapye and Serowe, said the police were not sure if stolen copper cables found buyers within the country or abroad. "We have not identified the market for stolen cables," said Marage. "But the market is a very critical area, which once is identified and stopped, the culprits will have nowhere to sell their contraband."

P572,000 minimum price for BHC Flats

2011-05-26T09:31:00.000+02:00

Mmegi

A home loans officer at Barclays Bank who did not want to be named told Mmegi in a telephone interview that to qualify for a loan of P577,000, the high end price for the one bedroom unit, one would need a net income of at least P11,911, after tax and other deductions. This would be for a loan with an 11 percent interest paid over 20 years at a monthly instalment of P5,955.73. The officer said that in her experience, first time homeowners such as recent graduates usually prefer to buy flats. "Older people tend to buy townhouses," she said.

Rural libraries to go hi-tech thanks to Gates Foundation

2011-05-26T09:30:00.000+02:00

Mmegi

"'We want Batswana across the country to have access to the Internet. Every place where there is a library, people should be able to access the Internet. We are also trying our best to ensure that people get an understanding of how the project works,'"

Hodges Resources to acquire up to 99% of the Morupule South Coal project, Botswana

2011-05-26T09:21:00.000+02:00

African Business News - MBENDI:

"Hodges Resources Ltd (ASX: HDG) has exercised its option with SNDP Manufacture Mining and Construction Services (PTY) Ltd ('SDNP') for the rights to acquire up to 99% of the Morupule South Coal project, through a joint venture agreement. They can earn up to 99% interest in a strategic coal project. Inferred JORC resource of 414 Mt's. Exploration Target of 700 to 800 Mt's."

BOCCIM mediates between govt, unions

2011-05-26T09:01:00.000+02:00

Mmegi:

"We have already been told the Finance Ministry is working on figures to see how best the deficit can be reduced so that government can accommodate whatever percentage it can. The issue is how can we help or what ideas can we bring to reduce the deficit, we have some suggestions" - Mbaakanyi

"We want to go to the unions and say 'supposing this scenario were to be the case, how would you react?' We also want to obtain their views so that before we bring the parties together, we are sure that they are agreed on the suggestions that are being made."

Comair Suspends Start of Flights to Gaborone, Maputo, Business Day Reports

2011-05-24T13:59:00.000+02:00

Comair Ltd. (COM) suspended starting flights to Gaborone, Botswana’s capital, and Maputo in Mozambique. The flights, which were due to start on May 30, have been delayed to September as the company awaits a commitment from Lanseria International Airport, Johannesburg, to build a new runway and expand other infrastructure, the Johannesburg- based newspaper reported. Lanseria plans to spend 150 million rand on a new runway and is investing more than 50 million rand in three new terminal gates and 1,000 new parking bays.

Minister of Diamond Rich Botswana Attending Antwerp Diamond Conference

2011-05-24T13:58:00.000+02:00

In pursuit to the objective of establishing a Botswana Diamond Centre and downstream diamond manufacturing facilities, the Minister undertook a trip to Belgium and Switzerland at the end of August 2010 and explored areas of collaboration between Botswana and the Antwerp World Centre. Minister Kedikilwe is expected back home on 25th May, 2011

Adding Value to De Beers

2011-05-24T13:34:00.000+02:00

Diamonds.net

De Beers announced the much-anticipated appointment of its new chief executive officer (CEO) earlier this week, almost a full year after the position was vacated. Ultimately, the length of time taken to make the appointment, and the candidate chosen, indicate a sense of urgency that may have been felt by chairman Nicky Oppenheimer, and fellow shareholders, Anglo American and the Botswana government, to get it right. While former CEO Gareth Penny embarked on a 5-year plan to grow the company, which was subverted to an economic crisis navigation strategy, his heir apparent will be tasked to take a much longer outlook. In accepting the position, Philippe Mellier, a French national, will need to assess the company’s potential in the context of its recent performance and corporate structure. While De Beers hailed a strong year of recovery in 2010, from a broader perspective, it appears to have remained rather stagnant over the past decade. Annual group sales in 2000 were around $6 billion, as they still were ten years later.

The adage “If you don’t move forward, you begin to move backward” may have weighed heavily on the conscience of Oppenheimer’s board.

Botswana's Minerals Minister Attending Antwerp Diamond Conference

2011-05-24T13:29:00.000+02:00

This year's conference is titled "Diamonds 2020: A window to the future" and will indentify and analyze trends expected to affect the diamond industry in the coming years. Kedikilwe is expected to present Botswana's position on the issues of diamond beneficiation and diamond cutting, polishing, and jewelry manufacturing, areas in which Botswana – currently known mainly as a producer of rough diamonds – is seeking to expand.

Nedbank BettaBeta ETF lists on Botswana Stock Exchange

2011-05-19T09:40:00.001+02:00

The Botswana Gazette: "“While Nedbank Capital is justifiably proud of the role it has played in this process, the successful listing of the BettaBeta ETF can undoubtedly be attributed to the perseverance of the Botswana Stock Exchange itself,” Visser says, “because it was the BSE that first identified the need for an affordable and broadly inclusive investment vehicle that would enable more Botswanans (Batswana) to benefit from the country’s economic growth, and it has been their unfailing commitment that has ensured this vision has come to fruition, some four years on.” Visser explains that the Nedbank BettaBeta ETF has been designed to offer investors in the BSE affordable exposure to blue chip companies listed on the JSE/FTSE Top 40 – many of which also operate in Botswana."

Botswana market significant

2011-05-19T09:40:00.000+02:00

The Botswana Gazette: "“The Botswana market is quite significant to our business, the thought that since the consumer market is not as large as other parts of Africa is mistaken,” Boulanger said, adding that, “in our approach we are aware that the country’s economy is government driven, as such our product delivery is in line with that fact without leaving the consumer market behind.”"

De Beers Hires Alstom's Mellier in Echo of Anglo's Carroll

2011-05-17T11:21:00.000+02:00

"We're looking for Philippe really to shape De Beers to be relevant for the next generation," Chairman Nicky Oppenheimer, 65, said in a phone interview from London today. "There's no doubt that De Beers, when Philippe comes to the end of this tenure, will be a different company to what it is today. Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2011/05/15/bloomberg1376-LLA3QM6K50XU01-2V4SFE3598AJU7AKIUA7D198IV.DTL#ixzz1MbGGEEIb

The Development Conundrum Anagram of Africa

2011-05-17T11:17:00.000+02:00

GhanaWeb: "'Are you there... Africa of the millions of royal slaves, deported Africa, drifting continent, are you there? Slowly you vanish, you withdraw into the past, into the tales of castaways, colonial museums, the works of scholars' Jean Genet describes Africa in; The Blacks. I am so fascinated by the writings of Walter Rodney and begin to wonder if our policy makers even know where we came from and the development needs of the continent. It is important for the African policy makers come up with policies that aim at benefiting Africans and not other consideration, just as Botswana did remarkably under former president Sir Quett Ketumile Joni Masire. African countries are unjustifiably referred to as developing, in other words, third world countries. Going by the western definition of the status of these countries, they are underdeveloped and less intelligent. “Underdevelopment makes sense only as a means of comparing levels of development. It is very much tied to the fact that human social development has been uneven and from a strictly economic viewpoint some human group have advanced further by producing more and becoming wealthier.” Walter Rodney"

De Beers names new Group CEO

2011-05-17T11:16:00.000+02:00

Moneyweb: "The Chairman of the De Beers Board, Nicky Oppenheimer announces that the De Beers Group has appointed Philippe Mellier as the company’s new Chief Executive Officer. Mr. Mellier, currently the President of Alstom Transport and Executive Vice President of Alstom SA, was selected after a wide-ranging search. He will formally join De Beers in July and will chair the company’s Executive Committee and be appointed to the De Beers SA Board."

RBZ urges gold-backed Zim dollar

2011-05-17T11:14:00.000+02:00

RBZ urges gold-backed Zim dollar: "Government ditched the Zimbabwe dollar in 2009 after it had been rendered worthless by record inflation levels and adopted multiple foreign currencies with the US dollar, the South African Rand and the Botswana being the most widely used."

Botswana trade deficit at record high in February

2011-05-10T12:10:00.000+02:00

Botswana trade deficit at record high in February: "Botswana's trade deficit widened to a record high of 2.25 billion pula (US$335 million) in February on a sharp fall in diamond and beef exports, Statistics Botswana said on Monday"

World's poorest states must diversify: World Bank - Reuters -

2011-05-09T12:02:00.000+02:00

World's poorest states must diversify: World Bank - Reuters -

CIC Energy-JSW deal in trouble over Botswana project

2011-04-29T11:19:00.000+02:00

Reuters
CIC Energy Corp's buyout by JSW Energy Ltd might be terminated or delayed if it fails to get a "comfort letter" from the Botswana government for its 300 MW power project in Botswana. Last November, CIC had agreed to a C$422 million, or C$7.42 a share, buyout offer from JSW Energy, subject to CIC having obtained such a comfort letter from the Government of Botswana. CIC said it has begun talks with JSW and the government of Botswana. The discussions are expected to conclude by May 31. CIC said the deal may also be delayed pending talks and fulfilment of several conditions. It had expected to close the deal by end of May. If the proposed acquisition of CIC is not completed by May 31, either CIC Energy or JSW will be entitled to terminate the supplementary agreement, CIC said in a statement. Last month, the Botswana government had declined to renew one of CIC's two mining licenses.

"Should the supplementary agreement be terminated, CIC Energy will review its strategic plans, including exploring alternative corporate transactions."

Public service strike exposes chinks in Botswana's armour

2011-04-29T11:14:00.000+02:00

Mail & Guardian
Almost 100 000 public servants have been on strike in Botswana since Monday last week, in an unprecedented display of popular militancy in the country. The nationwide strike, over demands for a 16% salary increase, has potential political implications for a state ruled by the Botswana Democratic Party since independence. Thousands of striking workers have gathered daily at the Gaborone Secondary School (GSS) grounds, chanting anti-government slogans. Some union members say the strike is clearly influenced by events in North Africa, adding that the GSS grounds have been nicknamed "the Tahrir Square of Botswana", recalling the scene of protests in central Cairo. Workers in major towns and villages have also been demonstrating. The strike is said to have paralysed government operations such as health and education. Trade unions claim that about 80% of the civil service has joined in. The state is Botswana's largest employer. Unionists said the government has redeployed members of the Botswana Defence Force, the Botswana Police and volunteers to keep services running. The Botswana Red Cross Society has also been roped in to assist in clinics and hospitals. This week the government of President Ian Khama dismissed reports of a "crisis". The government spokesperson and deputy permanent secretary in Khama's office, Jeff Ramsay, told the Mail & Guardian that the situation is under control. "While the strike has certainly not paralysed the government service as a whole, it has had a negative impact in some areas. No hospitals or schools have been closed, but some have been affected," Ramsay said.

Botswana Beef Exports Slump 89% After Exports to Europe Halted

2011-04-29T11:12:00.000+02:00

Bloomberg: "Beef exports from Botswana fell 89 percent in February after the country halted shipments to the European Union, according to the Bank of Botswana. Botswana’s beef shipments were 7.5 million pula ($1.2 million) in the month, compared with 66.3 million in January, according to a statement from the Gaborone-based central bank. The state-owned Botswana Meat Commission is working to solve problems outlined in a January EU inspection, including better identification of animals."

Botswana Couriers set to unlock abundant value

2011-04-29T11:09:00.000+02:00

Botswana Business Diary: "Sitting on world class infrastructure owned by both Botswana Couriers along with the parent company’s pervasive nationwide footprint and a healthy international network, Botswana Couriers is set to leverage all the advantages open to it with a long term vision to grow beyond being just a courier company."

BCPYL want De Beers, BDP relations probed

2011-04-29T10:57:00.000+02:00

Botswana Gazette
“When the BCP’s central committee convenes sometime next month they will look among other things at our request to file a case against the corrupt relations between the ruling party and De Beers, which dates back to the era of Sir Ketumile Masire’s presidency,”

Botswana central bank keeps rates at 9.5 pct

2011-04-29T10:53:00.000+02:00

Reuters
"The current state of the economy and the assumptions on both the domestic and external economic outlook ... suggest that maintaining the prevailing level of interest rates is consistent with the achievement of the bank's 3- 6 percent inflation objective in the medium term"

Sarin Ships Galaxy 1000 Diamond Scanning System to Shrenuj Botswana

2011-04-29T09:52:00.000+02:00

"Israel's Sarin Technologies has shipped a Galaxy 1000 diamond scanning system to Shrenuj Group's jewelry manufacturing operation in Botswana, the company reports."

Silver Swan Group and Botswana Metals top the Proactive Investors Rippers today

2011-04-29T09:43:00.000+02:00

Proactiveinvestors (AU)

Optimising economic value creation

2011-04-19T14:41:00.001+02:00

"Despite concerted efforts by many African economies to diversify, the continent still remains primarily a commodities exporter. A commodity price shock owing to poor demand might mean less revenue for government and a disruption of government capital projects. The global economic slump made an example of Botswana in this regard when the diamond was relegated to the bottom of, or off, the international customer’s shopping list.

The shift in demand for African products especially by the European Union and the United States, accounting for almost 60% of Africa’s exports, did not help Botswana either. Many businesses went bust while those that trudged on were saddled by unsettled obligations and desperately needed recapitalization. With owed financial institutions demanding their dues it made little sense to ask them for more.

“In such circumstances three traditional options for raising capital are borrowing from the bank, listing on the stock exchange to raise capital or approaching a rich uncle for help,” VPB, founder and managing director, Anthony Siwawa told The Business Diary in an exclusive interview."

The world's premier mining and mining investment website Nimrodel Resources Commences Drilling at Takatokwane Project, Botswana - COMPANY RELEASES | Mineweb

2011-04-19T14:41:00.000+02:00

HIGHLIGHTS

Diamond drill rig mobilized and drilling commenced ahead of schedule

First hole has intersected 3 coal seams

Estimated gross mineralisation intervals of the 1st and 2nd coal seams: 3.7m and 16.5m respectively

Nimrodel Resources Limited (ASX: NMR) is pleased to announce the commencement of drilling at the Takatokwane Project in Botswana. The Company was able to secure a diamond drilling rig earlier than planned and the rig was mobilized to site on Thursday last week. Drilling commenced on Friday and continued over the weekend."

Leighton in JV awarded US$586m mining service contract in Botswana

2011-04-19T14:40:00.000+02:00

“We are very comfortable working in Botswana and, in particular of course, for the owners of the Jwaneng mine, being the Government of Botswana and DeBeers. Our partners, Basil Read from South Africa and Bothakga Burrow of Botswana, have operated extensively and for many years in the country,” said Mr Stewart.

“Strategically it makes sense for Leighton – the world’s largest contract miner - to take our mining capability to resources markets like Southern Africa. We see this region, which includes Botswana, Zambia, Namibia, Tanzania and Mozambique, as offering a significant range of mining opportunities.

Stocks to watch

2011-04-19T14:39:00.000+02:00

Stocks to watch: "The world's biggest contract miner Leighton Holdings has won a $US586 million diamond mining services contract in Botswana as part of a joint venture."

IAMGOLD's Essakane Mine Continues to Operate Without Interruption in Burkina Faso

2011-04-19T14:34:00.000+02:00

"'It is business as usual. We have not had any disruption to the Essakane operation. We have had no interruptions to our supply chain. More importantly, all of our employees, including 1,800 Burkinabe nationals, are safe and going about their normal routines."

Analysts recommend G4S Share split

2011-04-19T14:32:00.001+02:00

"'Investors are currently facing market liquidity constraints with G4S,' says the research note. 'With only 8 million shares in issue, lack of transferability remains a concern. 'This is further worsened by the fact that the company's share price of P34.30 is too high, rendering it unaffordable for retail investors. We believe a 10 for 1 share split would help promote transferability and liquidity, as well as facilitate the acquisition of the company's shares by small investors.'"

African Mobile Broadband, Data and Mobile Media Market - Market Research Reports - Research and Markets

2011-04-19T14:32:00.000+02:00

"This annual report offers a wealth of information on the mobile broadband and data market in 38 African countries as well as the emerging market for mobile content, applications and media on the continent. Subjects covered include:

- Mobile data services – SMS, MMS, WAP, GPRS, EDGE, 3G, 3.5G, 4G;
- 3G and 4G mobile broadband technologies – WCDMA, HSPA, EV-DO, LTE;
- Statistics, trends and analysis;
- Major market players;
- Mobile content, applications and media;
- Mobile TV;
- Location-based services;
- M-commerce, m-payments, m-banking.

The countries covered in this report include: Algeria, Angola, Benin, Botswana, Burkina Faso, Cameroon, Chad, Cote d’Ivoire, Democratic Republic of Congo, Egypt, Ethiopia, Gabon, Gambia, Ghana, Guinea, Kenya, Lesotho, Liberia, Libya, Madagascar, Malawi, Mali, Mauritius, Morocco, Mozambique, Namibia, Nigeria, Rwanda, Senegal, Sierra Leone, South Africa, Sudan, Swaziland, Tanzania, Tunisia, Uganda, Zambia, Zimbabwe."

ThePoor waste management led to tannery Closure'

2011-04-19T14:31:00.000+02:00

"'The BMC Wetblue Tannery was closed in 2006 due to a number of long term threats to its financial viability, particularly associated with the management of waste from the facility. Wetblue processing uses a considerable amount of chemicals that are toxic to the environment (eg Chronium),' Assistant Minister of Agriculture Oreeditse Molebatsi said."

Basil Read wins JV Mining Services Contract for Debswana Diamond Mine

2011-04-19T14:29:00.001+02:00

Ba"The South African construction company Basil Read has announced that the Majwe Mining Joint Venture, which consists of Basil Read Mining, Leighton International and Bothakga Burrow Botswana, has secured a five-year multi-billion rand mining services contract at the Debswana diamond Mine in Botswana."

Botswana seeks regional beef markets

2011-04-19T14:29:00.000+02:00

"The Botswana Meat Commission says it is looking look for alternative beef markets in the Southern African region after the European Union temporarily stopped imports starting in March this year.

Exports to EU markets are expected to resume after six months when the commission should have sorted out concerns raised by the European bloc.

Reports indicate that the suspension of exports is taking a heavy toll on BMC's finances, threatening the livelihoods of the plus-1 000 workers, and the prices paid to ranchers.

Official statistics show that the BMC exported products worth P868.8 million primarily to the EU last year, supporting export parity payments to more than 6 000 farmers and propping up tens of thousands of dependents, support industries."

Group eyes neighbouring markets

2011-04-19T14:28:00.001+02:00

Funeral Service Group’s continued impressive performance within Botswana’s boundaries in 2010 is expected to catapult, the Group’s activities in neighbouring markets this year, the company has said.

Botswana’s Government Says It Will Not Pay Striking Workers

2011-04-19T14:28:00.000+02:00

Botswana’s government won’t pay state employees who begin a strike over pay today, Festinah Bakwena, director of the Department of Public Service Management, said on state television yesterday.

The workers are demanding a pay rise of 16 percent while the government has offered 5 percent. Botswana’s annual inflation was unchanged at 8.5 percent in March.

ANT Steel plans rebar mill in Botswana

2011-04-19T14:26:00.002+02:00

Local media reported that an Indian delegation hosted by the Botswana Export Development and Investment Authority said that it is very keen to set up thermal power stations and steel manufacturing companies in Botswana.

Sono Resources Announces Management and Board Appointments

2011-04-08T15:42:00.000+02:00

Sono Resources Inc. (OTCQB: GVRS) (www.sonoresourcesinc.com) announced that the Company has appointed Peter Wilson as President and Director, William D. Thomas as CFO and Director and Paul Robert Lindsay as a Director of the Company. During the past 20 years, Mr. Wilson lead the management of several public companies through his private investment firm which is based in Vancouver, Canada. His experience spans a wide range of property negotiations, but primarily the financings of companies in the mining, energy and real estate industries. His business experience includes international assignments in the United Kingdom, Canada, the United States, Switzerland and Norway.

CIC’s buyout by JSW in doubt

2011-04-04T14:00:00.000+02:00

IOL.co.za: "CIC Energy Corp said the Botswana government had declined to renew one of its two mining licenses there which could derail a buyout of the Canadian coal miner by Indian power utility JSW Energy Ltd. CIC's shares fell 16 percent. The company said it was discussing the new developments in Botswana with JSW Energy, and the deal will not go through unless the latter waives a license renewal condition. Last November, CIC had agreed to a C$422 million, or C$7.42 a share, buyout offer from JSW Energy, subject to its getting both its Mmamabula East and Mmamabula South mining licenses renewed in Botswana. The buyout offer comes at a time when Indian firms are scouting coal assets overseas to fire up power plants at home, looking to benefit from the energy-hungry nation's aim to halve its nearly 14 percent peak-hour power deficit within two years."

Botswana Diamonds gets licence in Cameroon

2011-03-25T13:51:00.000+02:00

Botswana Diamonds has been awarded an 8,087 square kilometre diamond exploration reconnaissance licence in Cameroon.

The concession is held 85% by Botswana Diamonds and 15% by local Cameroon partners.

The reconnaissance licence is for an initial period of 12 months with an automatic right to a one-year extension on performance of the agreed work programme - including sampling, geochemical work and geological mapping.

Following completion of the agreed work, Botswana Diamonds can apply for one or more multi-year exploration licences of up to 1,000 square kilometres each.

BNPC perturbed by Botswana's work ethic

2011-03-25T13:47:00.000+02:00

Mmegi

Botswana's Economy to Grow 10-12% This Year, Mohohlo Says

2011-03-25T13:45:00.000+02:00

Botswana's economy may expand by 10 percent to 12 percent this year on a recovery in world diamond demand, said Linah Mohohlo, the governor of the country's central bank.

GIA Offers Diamond Grading Classes in Gaborone

2011-03-25T13:43:00.000+02:00

The Gemological Institute of America (GIA) will offer diamond grading lab classes in Gaborone, Botswana, in April and again in September. These classes offer a practical, hands-on approach to learning and are designed to help students in Botswana increase chances for employment and career development within the diamond production industry.

Fall in Botswana Diamonds shares

2011-03-24T12:00:00.000+02:00

The Irish Times