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January 14, 2019 4:00 AM Higher SACU receipts help trim 2018/19 deficit

Last February, Finance Minister, Kenneth Matambo projected a deficit of P3.6 billion, revising this in September to P4.6 billion, mainly due to revenues being diverted to Debswana mega-projects. Government, as a shareholder in Debswana, has funding obligations to the diamond miner’s upcoming projects, which include Cut 9 at Jwaneng and Cut 3 in Orapa 1252

December 22, 2018 4:00 AM 2018: From gold in Gold Coast to shattered Olympic Dreams

2018 will go down in history as a year when Botswana launched an audacious bid to become the first ever African country to host the Youth Olympic Games. Botswana, went head-to-head with other African countries, Tunisia, Senegal and Nigeria for the right to organise the 2022 tournament. While the Botswana National Olympic Committee (BNOC) thought it had done enough 948

December 3, 2018 4:00 AM Debswana to unveil Cut 9 contractor

Cut 8, involving the expansion of Jwaneng Mine pit at a cost of more than US$3 billion, was previously the single largest contract for a mine in Botswana. Majwe Mining, a joint venture amongst three major contractors, scooped the Cut 8 contract running it from 2011 to 2016, with a further two-year extension to 2018. The latest contract, a further expansion 126

November 9, 2018 7:50 AM Credit uptake drops among businesses

Bank of Botswana data released this week shows that while restrained, credit growth among resident businesses had been marginally rising from the beginning of the year, with total commercial bank loans outstanding to the sector reaching an annual peak of P28.8 billion in June. just under 40% of total loans outstanding to commercial banks, compared to 60.2% for households 120

October 29, 2018 4:00 AM Debswana production drops in Q3

According to Anglo American’s third quarter production figures, output at Orapa dropped 21% quarter on quarter to 2.6 million carats, while at Jwaneng it rose marginally to 3.14 million carats from 3.03 million carats. Anglo American owns 85% of De Beers, with the balance held by the Government of Botswana. De Beers, in turn, owns 50% of Debswana with the balance 142

October 8, 2018 4:00 AM Global equities lift Debswana’s P7bn pension fund

The Debswana Pension Fund (DPF) has more than 12,000 members and holds about P7 billion in assets locally and offshore through 10 fund managers. The assets include local cash, local and offshore equities, property, local and offshore bonds, African private equity and emerging market equities. According to statements the DPF shared with members this week, global 111

September 17, 2018 4:00 AM Oral diseases impact every aspect of life – Madigele

He said this during at the Oral Health Day Commemoration held at Lobatse on Tuesday, held under theme, ‘Let us Think Mouth, Think Health’. He said reports from local oral health facilities indicate tooth decay and gum diseases as the top most prevalent oral diseases affecting school children and adults. He pointed out that despite being easily preventable 153

September 17, 2018 4:00 AM Stampede as gov’t raises P1.1bn on bond market

Each quarter, the Bank of Botswana (BoB) holds auctions of bonds and six-month treasury bills on behalf of government under the P15 billion note issuance programme which dates back to February 2011. The auctions are limited to commercial banks, who hold exclusive bidding rights. The August 31 auction was marked by intense bidding, due largely to the debut 158

September 16, 2018 4:00 AM Frank De Painter in a state of heavenly madness

History tells us that creative people sometimes go into a state of “heavenly madness” and it enables them to communicate deeply with their art, be it visual or performing. Frank The Painter is a man who likes to tell his stories through his artworks and his creativity has proven to be essential. We may never know the emotional effects that drives him to strike 148

September 4, 2018 1:52 PM BIHL draws hope from Masisi’s overtures

For several years, BIHL has cited falling household incomes, rising unemployment particularly among the youth and restrained growth of the overall economy, as key operating challenges for the group’s subsidiaries. Two of BIHL’s subsidiaries, Botswana Life and Legal Guard, are heavily reliant on the disposable incomes of the formally employed, as are the group’s 111