Tuesday, 19 January 2010
Monday, 18 January 2010
Friday, 15 January 2010
Letshego nets 45% profits, aims higher
Letshego nets 45% profits, aims higher
Kabanda Chulu (15th January 2010, 04:00 CAT) - PAN African consumer lending Group, Letshego, has stated that there is need to focus on brand building and increasing its market share through intensive marketing and building stakeholder relation by offering high level customer services.
Kabanda Chulu (15th January 2010, 04:00 CAT) - PAN African consumer lending Group, Letshego, has stated that there is need to focus on brand building and increasing its market share through intensive marketing and building stakeholder relation by offering high level customer services.
FTSE 100 slides as Dow, S&P 500 and NASDAQ futures inch lower on JPMorgan results
Tunisia focused metal miner Maghreb Minerals (AIM: MMS) headed in the opposite direction, sliding 5.5%, while Botswana operating nickel and copper miner Discovery Metals (AIM: DME), iron ore focused investor Red Rock Resources (AIM: RRR) and copper and nickel explorer Regency Mines (AIM: RGM) followed with losses of over 4%.
Sunday, 20 December 2009
Saturday, 19 December 2009
Friday, 18 December 2009
Botswana Central Bank Reduces Benchmark Interest Rate (Update1) - Bloomberg.com
Botswana Central Bank Reduces Benchmark Interest Rate
The central bank cut its benchmark interest rate for the first time since August as inflationary pressures eased. “Prospects for the level of inflation being sustained within the 3 to 6% objective range during 2010 remain good,” according to the Gaborone-based Bank of Botswana. “Accordingly, the bank has reduced the bank rate by 1% to 10% with immediate effect.”
The central bank cut its benchmark interest rate for the first time since August as inflationary pressures eased. “Prospects for the level of inflation being sustained within the 3 to 6% objective range during 2010 remain good,” according to the Gaborone-based Bank of Botswana. “Accordingly, the bank has reduced the bank rate by 1% to 10% with immediate effect.”
Botswana’s inflation rate dropped to 5% last month from 6.9% in October, the Central Statistics Office said on December 16th 2009. Further price increases should be contained by excess industrial capacity, lower commodity prices and weak labor market conditions, the central bank said.
Botswana is the world’s largest diamond producer. Demand for the gems has slumped amid the global economic recession, and the International Monetary Fund expects the southern African nation’s economy to contract 10.3% this year.
“There is an improvement in economic prospects as the world economy recovers from the recent deep recession,” the central bank said. “The sustainability of the global economic recovery depends on normalization of the global financial system, as well as a smooth and coordinated exit from the policy stimulus packages that the advanced countries undertook to support economic activity.”
The central bank last cut its benchmark interest rate on Aug. 25, lowering it by half a percentage point.
Botswana backs African Diamonds deal
Lucara has completed the buy-out of De Beers from the AK6 diamond discovery in Botswana following the approval of the Botswana government, which was brokered by African Diamonds, which is headed by John Teeling.
Lucara, a part of Lundin Group, takes over De Beers' 70.3% stake in AK6. African Diamonds currently holds a 29% stake and Lucara intends to take up an option to increase its interest to 40% in early 2010. African Diamonds says construction of the diamond mine is expected to begin in mid-2010, with a start-up date in late 2011.
Lucara, a part of Lundin Group, takes over De Beers' 70.3% stake in AK6. African Diamonds currently holds a 29% stake and Lucara intends to take up an option to increase its interest to 40% in early 2010. African Diamonds says construction of the diamond mine is expected to begin in mid-2010, with a start-up date in late 2011.
Thursday, 17 December 2009
Olympia Capital unveils new business strategy for SA
Olympia Capital Holdings Limited announced the acquisition of the Yokota brand name and the manufacturing plant belonging to Natural Wooden Products Limited from the liquidators of Plush Products in South Africa.
The deal is part of Olympia’s new business as it seeks to increase its presence in the South African market. Olympia Capital Holdings Chief Executive Michael Matu said the company had already acquired a 74% stake in Plush Products as part of the regional expansion strategy in 2006.
Olympia Capital Holdings owns 100% in Dunlop Industries Limited (Kenya), a 49% in Avon Rubber Limited (Kenya), 13% of Heri Limited (Kenya), and 53% in Olympia Capital Corporation. Olympia Capital Corporation holds 100% in Kalahari Floor Tiles (Botswana), which owns Gaborone Enterprises Limited.
Wednesday, 16 December 2009
ABN AMRO launches banking system in Botswana
ABN AMRO launches banking system in Botswana
To strengthen its presence in Africa, ABN AMRO ID & JG launched its OLYMPIC Banking System in Botswana a few days after the bank obtained its license. The International Diamond and Jewellery Group's business unit for the financing of the diamond industry, ABN AMRO, opted to deploy the OLYMPIC Banking System with a multi-entity configuration to support its activities in various countries including Botswana.
To strengthen its presence in Africa, ABN AMRO ID & JG launched its OLYMPIC Banking System in Botswana a few days after the bank obtained its license. The International Diamond and Jewellery Group's business unit for the financing of the diamond industry, ABN AMRO, opted to deploy the OLYMPIC Banking System with a multi-entity configuration to support its activities in various countries including Botswana.
BSE shines as Letshego stages surprise share price surge (Prof Malema 02.12.2009 9:28:13)
"“This was a clear case of profit takings,” Garry Juma, an analyst at Motswedi Securities, said Monday as BIHL, Chobe Holdings were snarled in a fog of profit taking� as the year approaches festive season.
“We are likely to see (this sort of) mix trading� in the four weeks to the end of the year,” he added."
“We are likely to see (this sort of) mix trading� in the four weeks to the end of the year,” he added."
Tuesday, 15 December 2009
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