Letshego ready to close Nigerian bank deal

Letshego Holdings Limited, Botswana’s biggest micro-lender looks set to acquire 100 percent stake in FBN Microfinance Bank (FBN MFB) to advance its diversification and financial inclusion agenda in Africa.

15th December 2015

Oil price hits fresh post 2009 lows as glut grows

15th December 2015

Oil prices resumed their slide on Tuesday, with U.S. crude falling below $37 per barrel for the first time since early 2009, amid fears the world was running out of capacity to store crude as a global glut intensifies.

BIHL lets women run the show

9th December 2015

Botswana Insurance Holdings Limited (BIHL), the country’s principal diversified insurance and asset management group, has lined up all its most powerful positions with women, from Chief Executive to board chairperson, Business Trends has observed.

PrimeTime mall in Pilane on schedule-official

9th December 2015

PrimeTime mall in Pilane will be open for business come July 2016, a senior company’s official has disclosed to Business Trends. This year, the leading property development and management company commissioned the construction of the mall, which is expected to also serve neighbouring villages.

Change business focus-Business Botswana chief

9th December 2015

The current economic climate of soft commodity prices provides an opportune time for the government and stakeholders to change their business focus.

Alexander Forbes upbeat despite volatile market

9th December 2015

Diversified financial services group Alexander Forbes had a tough trading environment in the six months to September characterised by volatile equity markets and headwinds in the South African economy.

Cresta, UB partnership bears fruit

1st December 2015

In 2010, Cresta Marakanelo and the University of Botswana (UB) merged the industry and academia to develop a comprehensive ‘on the job training’ programme which is now reaching six years. The two are bound by a Memorandum of Understanding (MOU) which aims to identify two excelling graduates from the UB’s Tourism and Hospitality Department to be inducted into the two (2) year Cresta Management Development Programme.

Orange eCattle app

1st December 2015

Orange Botswana has given 10 000 Euros (about P121, 000) to a young application developer, Kabo Raditladi who developed eCattle application in the Orange Botswana Developer Challenge competition. The application is a solution based mobile application that is expected to help local farmers trace their lost cattle.

Lucara discovers large diamond

1st December 2015

On the heels of announcing the recovery of the world’s second-largest diamond, Canadian miner Lucara Diamond Corp, last week revealed that it had recovered another two large diamonds, including an 813 ct stone, from its flagship Karowe mine, in Botswana.

Swedish, Ghantsi councils in progress talks

1st December 2015

Ghantsi District Council is currently hosting senior officials of Swedish Ale municipality to check on progress of a partnership the two councils signed three years ago. The partnership, known as Citizen Project is aimed at engaging with the community on formulation, delivery and audit of development activities in the district.

Kazungula bridge behind schedule’

1st December 2015

The construction of the multi-million Pula Kazungula Bridge across the Zambezi river that started with the laying of a temporary bridge over three months ago is behind schedule, Business Trends learnt recently. 

Motswana elected JCI Vice President

30th November 2015

Kabo Garechaba, a Motswana who is a broad- cast journalist has won elections to become Vice President of international organisation Junior Chamber International (JCI). He was elected during the 2015 JCI world congress in Japan recently, Business Trends has learnt.

The congress was one of the largest gatherings with over 8000 delegates from over 105 countries. Garechaba, 35, becomes the second Motswana since 2005 to be elected to the highest JCIoffice after Joseph Pheto who was elected to the same role 10 years ago. Speaking to Business Trends, Garechaba expressed joy saying it is a great milestone for a young Motswana to be elected to be part of the international board of exectives for such an organisation.

“I am really humbled to have won the position. This would give Botswana an opportunity to be part of the decision making team and we will be able to have first-hand information on what projects are going to be funded by the organisation,” said Garechaba. JCI president is Pascal Dike from Nigeria.
As VP, Garechaba will be overseeing the growth and development of the organisation in several countries including South Africa, Zimbabwe, Malawi, Mauritius, Comoros and Democratic Republic of Congo where he is expected to ensure the national organisations grow and make impact- ful projects in their communities.

He joined the organisation in 2007 upon which he served the organisation in various capacities at local and national levels until becoming national president of JCI Botswana in 2013.

LLR mulls shopping mall in S/Phikwe

30th November 2015

Property investment company, Letlole La Rona (LLR) is mulling over developing a shopping centre in Selibe Phikwe.Currently LLR has one retail property in Gaborone, which translates to six percent of the company property portfolio.

In the company’s 2015 annual report, LLR Chief Executive, Paul More said a feasibility study has already been undertaken that has confirmed the demand for more retail space in Selibe Phikwe and the targeted development will fill part of the existing gap in the gross let- table space. “The site targeted for development is conveniently located at the heart of the town’s CBD and the envisaged retail development will complement the hotel already situated o the said piece of land,” said More.

Speaking to Business Trends, More said currently they are in the process to publish an expression of interest and get advice on the size and how to construct the property. “Construction processes requires a lot of time as there are lots of processes involved. At the moment we are still processing the expression of interest,” said More. He said they want to start the construction by the first
half of 2016.

For the next financial has identified opportunities that will drive the growth of its property portfolio. More said the company is in the process of negotiating substantial standby facilities with a view to taking full advantage of opportunities as they arise. LLR is also listed company.

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