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January 14, 2019 4:00 AM Lucara targets P2bn sales from Karowe

Should the diamond miner hit its target, the revenues would be higher than the 2018 forecast of US$180 million. Lucara has become globally renowned for the discovery of exceptionally large diamonds at its Karowe Mine in Letlhakane, particularly the famous Lesedi la Lone, the second biggest rough diamond ever discovered, dug up in November 2015. Eira Thomas 1305

December 24, 2018 4:00 AM Grace period for BSE free float rules

Known as free float, current listing rules require companies on the BSE’s main board to have 20% of their shares held by the public. The new rules, part of a range of changes for equity listings, were initially due to come into effect on January 1, 2019. Information gathered by BusinessWeek indicates that ahead of the January 2019 deadline, none of the affected 994

December 4, 2018 4:00 AM Orange Launches Data Centre

The Centre would be inclusive of equipment space, office space, and two redundant energy centres with the completion date anticipated to be end of 2019. Located at the Botswana Innovation Hub (BIH), the state-of-the-art centre will become a central point of connectivity for national and international networking, and provide world-class data services 173

September 25, 2018 4:00 AM Molepolole’s Afritec Branch Opens Opportunities

This brings the number of Afritec branches across the country to 32, in addition to the kiosks across Furnmart stores countrywide. The branch’s opening comes at a time when the microlender increased its loan ceiling from P350,000 to P400,000. According to CEO Christo Kloppers, Afritec today boasts of 20,000 revolving clients, mostly government employees 175

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 159

August 20, 2018 4:00 AM Gov’t clips SA airline’s wings

CemAir, a mid-tier airline based out of Johannesburg, operated Air Botswana’s Gaborone-Cape Town route on a wet lease between February 2017 and January 2018, when the South African airline was grounded after failing a technical inspection by that country’s civil aviation authorities. A wet lease refers to an arrangement where one airline uses another’s 117

May 29, 2018 1:39 PM De Beers U-turns, jumps into synthetics

De Beers previously singled out synthetic or lab-grown diamonds as the biggest threat to rough diamonds, as players in the former industry pushed out countless carats, at low input costs, while marketing these as natural. By not only labelling its lab-grown diamonds, but also cutting their prices and flooding the market with them, De Beers is hoping 99

May 1, 2018 4:00 AM LEA To Focus On Creating Competitive, Sustainable Enterprises

Speaking during LEA’s annual Pitso, themed ‘Empowering Botswana SMMEs in pursuit of business development and economic diversification’ the CEO Dr Racious Moatshe said that the strategy is aimed at creating a competitive and sustainable pool of enterprises within the targeted period. “We undertake to execute this strategy which would be launched this year with utmost 140

April 17, 2018 4:00 AM Lucara Recovers 472 Carat Diamond

The new discovery follows the world’s second largest gem quality diamond found at the same mine two years ago. The 1,111-carat stone was recovered from its Karowe mine, about 500 km north of the capital, Gaborone. The stone is also the sixth largest gem quality diamonds ever mined. According to the Global Mining Observer, Lucara Diamond Company insured 170

March 12, 2018 4:00 AM Bamalete Lutheran Hospital suspends CEO, Principal on corruption allegations

This comes after some employees of BLH wrote a letter to the Office of the President (OP) and Directorate on Corruption and Economic Crime (DCEC) to look into allegations of corruption and malpractice at the BLH and BLSON. Mmegi has it on good authority that DCEC had made a report to the Board about a number of things. Amongst others, the DCEC allegedly 138