Standard Bank named African Bank of the Year

In addition to becoming a full-service financial services firm domestically, Standard Bank also has ambitions to enter other emerging markets, particularly those with links to Africa.

SA move costs Botswana jobs

South Africa's resoluteness regarding an export incentive scheme for textile manufacturers is forcing Botswana's largest textile company to close its doors in December 2009. About 5 000 jobs will be lost at Caratex Botswana, one of the neighbouring country's major earners of foreign exchange, when the company ceases trading at year-end according to its current managing director and owner Craig Chow. Chow said the decision had been taken because of the procrastination in arriving at a decision about the export incentive scheme. Ever since March manufacturers in the Southern African Customs Union (Sacu) have been in the dark as to which products would finally qualify for the scheme.

SA move costs Botswana jobs

South Africa's resoluteness regarding an export incentive scheme for textile manufacturers is forcing Botswana's largest textile company to close its doors in December 2009. About 5 000 jobs will be lost at Caratex Botswana, one of the neighbouring country's major earners of foreign exchange, when the company ceases trading at year-end according to its current managing director and owner Craig Chow. Chow said the decision had been taken because of the procrastination in arriving at a decision about the export incentive scheme. Ever since March manufacturers in the Southern African Customs Union (Sacu) have been in the dark as to which products would finally qualify for the scheme.

Atlas Copco opens office in Botswana

"The establishment of Atlas Copco in Botswana is expected to help the country diversify its economy through the mining and construction sectors, as well as strengthening the manufacturing sector. Speaking at the official opening of Atlas Copco on Thursday, the Assistant Minister of Trade and Industry, Ms Dorcas Makgato-Malesu said her ministry was prepared to support the South African company as it settles and establishes itself in Botswana. My ministry is committed to provide a conducive environment for you to grow as you help us diversify our economy, she said."

Botswana to add 250 MW via integrated gas, coal bed methane plants

In his most recent State-of-the-Nation address, President Seretse Khama Ian Khama said the project involved the development of an integrated 250 MW open-cycle gas turbine and coal bed methane power plant fed by substations situated at Orapa for 90 MW and the Mmashoro area for 160 MW.

Non-mining sector beat recession - Khama

Khama said the nation would be counting on newly created Hubs in Agriculture, Education, Diamonds, Innovation, Health and Transport for diversification of the economy. He said a general presentation by the Hubs was made to the private sector in the latter part of 2008, while another presentation and update would be made shortly. ' I also expect all the Hubs to engage the private sector on a sector specific basis from time to time. There will be an opportunity for the private sector to invest in the infrastructure development of the Innovation Hub early next year, in keeping with our policy of Public-Private Sector partnership', Khama told the HLCC.

Debswana pumps P3.5bn into Cut 8 project

"Styled Cut 8, the critical stay-in-business project is one of a number by which Debswana aims to sustain its revenue streams and ensure the continuity of shareholder returns into the latter part of the next decade."

Botswana Telecom Expands Mobile Network With Ceragon

Ceragon Networks Ltd. (NASDAQ and TASE: CRNT), a leading provider of high-capacity wireless backhaul solutions announced that Botswana Telecommunications Corporation (BTC) selected their advanced solutions for upgrading its nationwide wireless backbone as well as the backhaul network of its cellular subsidiary beMobile. Ceragon solutions will enable BTC to support rapid subscriber growth and meet its service expansion plans. Equipment orders related to this deployment top $1.5 million.

With Botswana's high mobile phone penetration-rates in Africa, BTC offers voice and data services supported over its mobile network. Ceragon’s FibeAir(R) solutions that support high speed wireless transmission, will enable the BTC to continue to offer its growing customer base high-quality and disturbance free service delivery as part of the Rural Services Improvement and Expansion project that BTC has signed with Botswana Telecommunications Authority. Deployments are already under way and are expected to be completed by the end of 2009.

"In order to succeed in the dense telecom market of Botswana, it was important for us to select a backhaul solution that will ensure high quality service delivery at a competitive price," said a BTC spokesperson.

Watch out ORANGE (BOTSWANA)

Lucara to Acquire AK6 Diamond Project From De Beers.

Lucara to Acquire AK6 Diamond Project From De Beers.

Lucara Diamond Corp. (TSX VENTURE: LUC) entered into a Sale Agreement to acquire a 70.268% interest in Boteti Exploration (Pty) Ltd. ("Boteti"), which holds a 100% interest in the AK6 advanced diamond development project located in the Orapa (largest diamond region in the world) of Botswana from from De Beers Prospecting Botswana (Pty) Limited ("De Beers").

African Energy Discovers Uranium Mineralization At Gojwane Prospect, Botswana - Energy Business Review

African Energy Discovers Uranium Mineralization At Gojwane Prospect, Botswana - Energy Business Review

Posted using ShareThis

AfDB Approves 153 Million for Botswana Power Project

allAfrica.com: AfDB Approves 153 Million for Botswana Power Project

Mmegi Online :: Botswana businesses the most upbeat in the region

Mmegi Online :: Botswana businesses the most upbeat in the region


Posted using ShareThis

IAMGOLD Increases 2009 Production Guidance

Assumptions used in the updated 2009 guidance include an annual average price of gold and fuel at $935 per ounce and $60 per barrel, respectively. All dollar amounts are expressed in US dollars, unless otherwise indicated.

Mmegi Mobile :: UK equity firm starts African expansion in Botswana

A private equity firm focussing on micro-finance and telecommunications will soon open an office in Gaborone as part of its expansion into the African continent.

The UK's Ariya Capital, a private equity firm specialising in sustainable investments in frontier markets, says it has already sourced manpower for the project that will see it join the few private equity firms that already operate in Botswana."

Hana Mining RC Drilling Intersects 2.72% Cu and 64.8 g/t Ag Over 14 Metres in North Limb of Banana Zone | SYS-CON CANADA

Hana Mining RC Drilling Intersects 2.72% Cu and 64.8 g/t Ag Over 14 Metres in North Limb of Banana Zone SYS-CON CANADA

Botswana’s Khama Must Wean His Country Off Diamond Dependence - Bloomberg.com

"Khama, whose Botswana Democratic Party won 45 of the 57 seats in parliament in the Oct. 16 general elections, is presiding over an economy that will contract 10.3 percent this year, according to the International Monetary Fund, because of a slump in demand for diamonds caused by the worst global recession since World War II."

De Beers Sees Recovery in International Diamond Market, FT Says - Bloomberg.com

De Beers Sees Recovery in International Diamond Market, FT Says - Bloomberg.com

Shared via AddThis

Botswana Ruling Party Claims Victory in Elections (Update1) - Bloomberg.com

"Oct. 17 (Bloomberg) -- Botswana’s ruling party, which has governed the world’s biggest diamond-producing nation for more than four decades, claimed victory in parliamentary elections, as electoral officials continued counting ballots."

Botswana Sept inflation quickens to 7.0 pct yr/yr | Reuters

"JOHANNESBURG (Reuters) - Botswana's consumer inflation quickened to 7.0 percent year-on-year in September from 6.1 percent in August, the Central Statistics Office said on Thursday."

Mining - Hong Kong investment firm eyes Botswana for uranium | Moneyweb

"As China's hunger for resources at home increases, China Growth Minerals (CGM) has been mandated to invest in mineral projects across the world and it is doing so. CGM is eyeing Botswana's numerous uranium deposits. It has reached an agreement to acquire 6.34% or 5.92m shares of Australia's Impact minerals."

UPDATE 1-African Copper resumes concentrate shipments | Reuters

UPDATE 1-African Copper resumes concentrate shipments | Reuters: "UPDATE 1-African Copper resumes concentrate shipments"

The reality behind Africa's 'blood diamond' trade - December 11, 2006

The reality behind Africa's 'blood diamond' trade - December 11, 2006: "But the system is hardly flawless, even in the U.S. In September the U.S. Government Accountability Office found that Customs and Treasury officials were only haphazardly enforcing the system, leaving companies to monitor themselves. Last year about 300,000 more carats were exported from than imported to the U.S. - which produces no commercial diamonds itself. Representatives from all 71 countries met last month in Botswana to try to tighten loopholes and squeeze out nonmembers. 'There are fewer and fewer countries left that nonmembers can trade with,' says Sue Saarnio, the U.S. State Department's representative to the November conference."

FNB Botswana appoints new CEO

FNB Botswana appoints new CEO

Shared via AddThis

Petra Forecasts a Further Recovery in Prices of Gems (Update2) - Bloomberg.com

Petra Forecasts a Further Recovery in Prices of Gems (Update2) - Bloomberg.com: "Petra rose 9.3 percent, the most in a month, in London trading. Gem prices will “slowly and gradually strengthen,” the St. Helier, Jersey-based company said today in a statement, after a rebound of about 25 percent in the market for so-called rough diamonds from lows reached earlier in 2009. Trading conditions remain “challenging” for now, Petra said."

Silobreaker: Fact Sheet for Imara Holdings Limited

Silobreaker: Fact Sheet for Imara Holdings Limited: "Imara Holdings Limited is a Botswana-based company. The Company is a holding company of a group of companies conducting stock broking, asset management and corporate finance activities for institutions and private clients. The Company has operations at Botswana, British Virgin Islands, South Africa and the United Kingdom. As of January 31, 2006, the Company acquired 69.27% of CF Africa Limited. The subsidiaries of the Company are Africa Investments Limited, Imara Capital Botswana (Pty) Limited, Imara Capital Limited, Imara Capital South Africa (Pty) Limited, Imara Asset Management Limited, Imara Asset Management (Pty) Limited (Botswana), Imara Asset Management UK Limited, Imara Botswana Limited and Imara Trademarks (BVI) Limited."

Mining industry of Botswana - Wikipedia, the free encyclopedia

Mining industry of Botswana - Wikipedia, the free encyclopedia: "The mineral industry of Botswana has dominated the national economy since the early 1990s. Diamond has been the leading component of the mineral sector since large-scale diamond production began 25 years ago. Most of Botswana’s diamond production was of gem quality, which resulted in the country’s position as the world’s leading producer of diamond by value. Copper, gold, nickel, and soda ash production also has held traditionally significant, though smaller, roles in the national economy. In 2005, mining accounted for about 38% of Botswana’s real gross domestic product (GDP), and more than 50% of Government revenues were derived from mining and mineral-processing activity. In 2005, the nominal value of minerals produced in Botswana exceeded that of 2004 by about 20% in terms of the United States (U.S.) dollar. Much of the increase was attributed to higher international mineral prices. Diamond, copper-nickel matte, and gold, in order of value, accounted for most of the increase.[1]"

Mmegi Online :: Investor confidence returning to markets-analyst

Mmegi Online :: Investor confidence returning to markets-analyst: "The Domestic Companies Index (DCI) has started the second half of the year on a winning streak with an improvement in volumes across the board, and according to an analysis by Motswedi Securties, this reflects an improvement in investor confidence in the market."

Mmegi Mobile :: Stanbic partners with Russian investment group

Mmegi Mobile :: Stanbic partners with Russian investment group: "Stanbic Bank Botswana's parent company, Standard Bank of South Africa, recently entered into yet another strategic partnership with Russian investment giant, Troika Dialog Group."