Letshego Holdings Limited Selects TCS BaNCS Core Banking Platform

Letshego Holdings Limited Selects TCS BaNCS Core Banking Platform:The vision of LHL is to transform itself from a pan-African financier into a retail banking firm by expanding its financial services footprint. With the modularized and scalable TCS BaNCS solution, the Bank will be able to easily configure the solution for its specific lending needs, while also fostering innovation in the form of a range of retail banking solutions from the same platform. This multi-entity, multi-lingual and multi-currency solution will integrate all operational processes in the Bank in real-time, and manage increased transaction volumes, while its flexible configuration features will cater to the needs of a multi-country deployment. With this modern banking platform, LHL will derive a world-class, high-performance solution, enabling low Total Cost of Ownership (TCO). It will also provide for lean and efficient operations across Africa and consolidate disparate systems onto a single platform.

Broker Roundup Pt 2 including Ferrex, ENK, Firestone Diamonds, Plethora Solutions and Providence Resources

It follows a strategic review of the firm's operations and was oversubscribed, the firm said, adding the cash will also be used to repay debt, the ongoing costs of the BK11 in Botswana and for general working capital.

Stanbic foils P13 million cellphone banking fraud

Sunday Standard - Online Edition: “The fraudsters start by reporting that the customer’s cell phone sim card is malfunctioning or lost to the Mobile phone service provider (beMobile, Orange or Mascom), who will in turn verify the customer’s identity from the fraudster as they will have all the necessary documentation,” he warned.

Debswana raises boxing sponsorship to P85, 000

Mmegi: "The realisation of these achievements begins with provision of access to the right resources. As Debswana, we are delighted and humbled by this development, hence we decided to increase the sponsorship amount for this year's awards," he said.

Budget at variance with reality-report

Mmegi: "A subjective analysis by people who attended public consultations revealed a strong disdain for the figures presented by the Finance Minister (issues were the same across areas visited; city, urban villages and remote areas)," reads part of the report.

Zim Finance Minister Supports Regional Currency Idea

RadioVop Zimbabwe: "We are a growing economy," he told more than 500 international investors."Our economy is beginning to stabilise since we began using the United States dollar and the South African Rand. We are on the right path as a country and you must support us in our endeavours to make Zimbabwe the number one investment destination in Africa."

Debswana taps into 39 million-tonne treasure chest

Mmegi: That would secure Jwaneng up to 2033." The tailings dump was originally slated to be established in 2008, before the global recession interfered in 2009. Plans to resuscitate the project in 2010 were subsequently set aside, with Debswana opting to focus on its existing operations.

Good networks necessary for coal market

Mmegi: "There is therefore need to make sure that our costs are at the minimum," he said. Scott believes that for the Botswana to fully meet its coal export potential which has been estimated at 60 million tonnes per annum (Mtpa) upgrading of the current infrastructure is critical.

Galane Gold acquires Botswana exploration assets

JOHANNESBURG (miningweekly.com) – TSX-V-quoted Galane Gold has completed the acquisition of Northern Lights Exploration (NLE), giving it control over prospective gold areas in the Tati Greenstone Belt, in Botswana.

“Completing the acquisition of NLE is a significant milestone for Galane. Combining the existing Galane exploration tenements with those of NLE means that the company has a combined area of more than 1 200 km2 and control of what we believe is all prospective ground for gold exploration on the Tati Greenstone Belt,” CEO Philip Condon said in a statement.

Glen Valley horticulture gets a boost

Mmegi: Stanbic Bank Botswana this week joined forces with the Local Enterprise Authority (LEA) in a bid to bolster the development of the nation's Small Medium Enterprises sector.


Said Stanbic Bank Head of SME, Keletso Setimela, "We hope this donation will go a long way towards assisting with the development of the SME sector and horticulture in particular. This contribution is also an investment in our country as it promotes economic diversification in the country. Through such investment, competent horticultural entrepreneurs are developed and the nation's horticultural import bill is reduced. In addition, jobs are created in the horticulture sub-sector and the country's agricultural GDP is raised. In light of these, Stanbic Bank looks forward to the beginning of a long and fruitful relationship with LEA." 

Research Report: Standard Chartered Bank Botswana Limited (STDBT)

Financial and Strategic SWOT Analysis Review: This comprehensive SWOT profile of Standard Chartered Bank Botswana Limited provides you an in-depth strategic analysis of the company's businesses and operations. The profile has been compiled by GlobalData to bring to you a clear and an unbiased view of the company's key strengths and weaknesses and the potential opportunities and threats. The profile helps you formulate strategies that augment your business by enabling you to understand your partners, customers and competitors better.

Botswana Stock Market Commentary – Week Ending April 6, 2012

Globalbizconcierge: The week’s trading was bullish with volumes pushing to 1.5m to realize a BWP 39.3m market turnover despite a shorter trading week. Turnover was boosted by a block trade of 1.1m units of BetaBetta (-1.4%, BWP 35.37) valued at BWP 37.5m. Financial stock Barclays (+0.9%, BWP 7.10) was the week’s top trader on the domestic board followed by FNBB (flat, BWP 2.75). The domestic index closed 0.3% firmer at 7,058.8 on notable gains in RPC Data (+11.1%, BWP 0.30) and Chobe (+4.5%, BWP 2.30).

Alexander Forbes brings Financial Planning Consultants to Botswana

Alexander Forbes brings Financial Planning Consultants to Botswana

IFSC goes into partnerships with 13 international firms

Sunday Standard: “We want to ensure that the private sector plays a leading role in the investment promotion of our financial centre,” IFSC Acting CEO, Letsebe Sejoe, said.

Botswana Diamonds makes progress in Bots, Zim and Cameroon projects

Sunday Standard: “Sampling operations have commenced on our Mobilong licence in Cameroon. Two 100-150 tonne samples are being gathered from areas of potentially diamond-bearing conglomerate identified in earlier exploration,” the company said.

GMK Noril'skiy nikel' OAO : OJSC MMC Norilsk Nickel selects contractors for modernization of power generation facilities

4-Traders: MMC Norilsk Nickel, a company incorporated under the laws of the Russian Federation, is the largest diversified mining and metals company in Russia, the world's largest producer of nickel and palladium and one of the world's largest producers of platinum, rhodium, copper and cobalt. In addition to this, MMC Norilsk Nickel produces a large number of other by-products, including gold, silver, tellurium, selenium, iridium and ruthenium.

The key production units of the Company's group in Russia are at the Polar and Kola Peninsulas. MMC Norilsk Nickel international assets include operations in Finland, Australia, Botswana and South Africa.

MMC Norilsk Nickel's shares are traded at MICEX-RTS. ADR's on the Company's shares are traded on the other the counter market in the US and at the London and Berlin stock exchanges.

Diamonds.net - Leveraging South Africa’s Diamonds

Diamonds.net:
Industry leaders estimate that the number of cutters employed in South Africa has fallen to about 900, down from last year’s count of about 1,200. Ernie Blom, president of the Diamond Dealers Club, which represents the local industry at the World Federation of Diamond Bourses (WFDB), reasoned that the workforce has dwindled due to a combination of insufficient training, an aging skilled labor force, and competition from other centers in the region, particularly Botswana.
These are all valid. However, Blom and others stress that fewer goods are being supplied to sustain the local factories. This scenario became most evident when De Beers Diamond Trading Company (DTC) announced in December 2011 that it is cutting the number of its South African sightholders from 14 to 10, effective from next month’s April sight. In addition, De Beers is expected to supply fewer goods to those successful sightholders as the company continues to shift its focus toward Botswana (see Editorial “Moving DTC” published on March 16, 2012).

Petra's Dippenaar Upbeat for Small Diamond Demand

Diamonds.net: Dippenaar stressed that these goods were significantly cheaper a few years ago and that there is still “room for growth,” as scores of new Chinese consumers enter the market. “Diamonds are a late cycle product and China’s urbanization is bringing more and more diamond customers to the market,” he explained. “This hasn’t even happened in a big way yet, but they will start by buying moderately priced goods and create a larger market for smaller stones.”

Firestone Diamonds PLC : - Interim Results

4-Traders: Tim Wilkes, CEO of Firestone Diamonds, commented: "The higher than expected cash outflows in H1 2012 are mainly due to the general weakness in the diamond priceexperienced from July 2011 combined with technical challenges experienced at both the Liqhobong and BK11 plants. With the restructuring that has been undertaken, the Company is now focused on increasing Liqhobong's revenue per carat production in 2012 and in developing the Main Treatment Plant in order to reach our target of producing over 1 million carats per annum by 2015, whilst achieving the required run rate by Q4 2014".

Bots forms diamond firm

Southern Times: “The diamond market is changing to the extent that not only the traditional markets of the US, Europe and Japan have to be watched but also the developing markets of China and India. In addition, there are also new private-sector company participants.

STANBIC TURNS 20

The Voice: "“Stanbic Bank is very proud of its association with Botswana. It has been a very exciting 20 years for the Bank in this market, and we are satisfied with our growth in this period. We have developed into a mature and profitable entity, and it is our hope that the Bank will continue to make a positive impact in the lives of our clients,” attested the Stanbic Bank Managing Director Leina Gabaraane."

Choosing Your Forex Broker - Five Things To Consider

 Blog Tim EA Fx: "If you decide to trade forex, you will have plethora of brokers to choose from. This very fact leads to the confusion. Choosing the best broker is a little tricky. It is a fierce market. Different brokers will come up with variety of ideas to attract more and more traders. You should not choose the broker based on the attractive schemes but on the basis of the few fundamental factors which are very important. If you combine those with any schemes, it will be the icing on the cake."

RAVOS retrenches staff

RAVOS retrenches staff: "Effectively the staff compliment has surpassed the student population since there will be no intake this year," he said. He said the downsizing could have ended in February but management said that they did not have capital to cover staff benefits. He said they gave them an extension, and the process should be complete in March. The staff will be given benefits that they are legally entitled to and two months' salaries.

Tata Shuns Coal for Clean-Energy Projects in Chase for Growth

Tata Power Co. (TPWR) bid for its first overseas wind and solar farms in South Africa with Pretoria-based Exxaro Resources Ltd. (EXX) this week in a renewable-energy tender whose results will be known by May, said Tata Power Executive Director S. Padmanabhan. He declined to say how much capacity their joint venture Cennergi is seeking, citing auction rules.
Tata Group, which owns Corus Group and Jaguar Land Rover, is focusing on new clean-energy investments as coal-powered projects face fuel shortages in India and environmental hurdles in the U.S. and Europe, he said. South Africa, where average power prices almost tripled in four years, is a “prime market for development” because of its size and abundant clean-energy resources, according to Bloomberg New Energy Finance.
“Why would anyone want to invest at this stage in a coal project?” Padmanabhan said in an interview in Mumbai yesterday. “Investment has stopped.”
South Africa’s auction of 3,725 megawatts of renewable- energy capacity drew Suzlon Energy Ltd., (SUEL) India’s largest wind- turbine maker, in an earlier round. Suzlon Chairman Tulsi Tanti said in November the company may build a factory there if Africa’s largest economy generates enough demand.
Tata Group accounts for almost 5 percent of India’s gross domestic product and has built a global business spanning steel, cars and drinks by acquiring Corus, Jaguar Land Rover and Tetley Group Plc. Its overseas clean-energy investments include stakes in two geothermal projects in Australia and Indonesia with Sydney-based Origin Energy Ltd. (ORG)

Chinese tussle over P1.5bn tender

According to PPADB Tender No: PR 10/1/3/8-V, the Ministry of Minerals Energy and Water Resources had approved Sinohydro/CMC JV as the preferred bidder and Consolidated as the reserve bidder on the tender for the construction of the North-South Carrier 2 Water Transfer Project through an Engineering Procurement Contract (EPC).
Major Sinohydro projects Dikgathong dam: P1.13-billion
Lotsane dam: P41m
Kang/Hukuntsi: P536 million
SSKA Airport construction: P550m
Major Consolidated Co projectsKolobeng river bridge: Manyana. P13, 887,847.92.
Sekoma-Kokotsha road: P146,94, 617.67
Mahalapye road:  P186,534,881.82.
Mopipi/Rakops road: P98,102,025.00
Mosopa River Crossing: P17,450,393.73.

Alliance Media wins airport advertising tender

Alliance Media wins airport advertising tender: Alliance Media Botswana, Botswana's largest billboard company has been awarded the contract for the exclusive indoor and outdoor advertising concession at Botswana's newly built Sir Seretse Khama International Airport.

The Alliance Media Botswana team at the newly constructed airport
The award followed a rigid tender process where the company was successful over both Primedia and Continental media, as well as other local players. Alliance Media had previously held the advertising concession in the old terminal building and their strong historic performance to the Civil Aviation Authority of Botswana contributed to the award. Alliance Media is widely known as Africa's largest airport advertising company, and holds the advertising concession to over 50 airports on the continent.

State incorporates new diamond trading firm

Government has formed a new private diamond trading company that will purchase, market and sell the 10 to 15 percent portion of Debswana production that the state is entitled to through the new marketing agreement signed with De Beers last year. Styled Okavango Diamond Trading Company, the new company is expected to independently auction an estimated $300 million (P2,250 million to $350 million (P2,625 million) worth of diamonds on the open market per annum from Debswana's average $3 billion-a-year supply. In his Committee of Supply speech to Parliament this week, the Minister of Minerals, Energy and Water Resources, Ponatshego Kedikilwe said his ministry had completed the incorporation of the private company, which is wholly owned by government.
 "The interim board of directors of the company has been appointed and the appointment of Chief Executive Officer will follow suit immediately as the potential candidate to set up the company has already been identified," Kedikilwe said.

Debswana announces board changes

Mmegi: "Debswana is 50-50 joint partnership between the Botswana government and De Beers. In the rotation arrangement, the permanent secretary to the president, Eric Molale who has been a Debswana director since 2003, has come back as chairman of the board with Nicky Oppenheimer as his deputy. Molale previously chaired the board in 2008-2009. The chairmanship of the board rotates every two years between the two shareholders.In other changes, Gareth Mostyn and Bruce Cleaver have been appointed as directors of the company by the shareholders. Mostyn was recently appointed the new De Beers chief financial officer. Cleaver is the director, strategy and new business at De Beers. Other members of the Debswana board include; S.H. Brennan, P.J.C. Mellier, L.K. Mohohlo, Dr. A.L. Molokomme, D.N. Moroka, B.B. Paya, S.M. Sekwakwa and L.R. Smart,"