Business

Mpho Masupe appointed the Stanchart CEO

The Board of Standard Chartered Bank Botswana Limited (SCBB) last week appointed Mpho Masupe as the new Chief Executive Officer of Botswana effective from 1 October 2017. Masupe was the Acting Chief Executive Officer since April 2017 after the departure of former CEO Moatlhodi Lekaukau. He has been serving as Chief Financial Officer of the bank, a position he has held since March 2013.


4th October 2017

Matambo calls for prudence

4th October 2017

The 2018/19 financial year budget points to a constrained fiscal space, which continues to characterise the domestic economy. Minister of Finance and Economic Development, Kenneth Matambo says this is mainly a result of slow growth in revenues, coupled with continued expenditure pressures due to additional budgetary requirements by various Ministries.

Liberty Life lures BDF staff members

27th September 2017

Liberty Life Botswana opened the Mobile office at the Botswana Defence Force (BDF) shopping complex to improve their business operations with the BDF Retiring Members Association (BDF RMA). Launching the office on Tuesday, Liberty Life Botswana Managing Director, Lulu Rasebotsa said they are committed to creating solutions to BDF RMA. She said the office will assist them to improve their services to the members.

NDB loan burden hovers over P500million

27th September 2017

The National Development Bank finds itself crippled by non-performing loans which are hovering at over half a million. In an engagement with the media last Friday, the Chief Executive Officer of the soon to commercialise development bank, Lorato Morapedi revealed that the business is going through a tough trading environment. Non- performing loans (NPLs) are on the shoot up.

BHC revenue on the decline

27th September 2017

The Botswana Housing Corporation’s total revenue for the financial year ended 31stMarch 2017 has recorded a nine percent decline. The Corporation’s total revenues reached a low of P493 million, when compared to the P539 million recorded in the prior year. According to the Corporation’s financial statement by its General Manager, Reginald Motswaiso, the decrease was mainly driven by sales revenue which decreased by a significant P43 million or 13 percent, from P326 million to P284 million.

PPC gives to Tlamelong Rehabilitation Centre

27th September 2017

PPC Botswana has invested more than P1 million towards Tlamelong Rehabilitation Centre to support its projects and promote awareness, self reliance and sense of responsibility. Speaking during the horticulture project handover on Thursday, General Manager Tuelo Botlhole said they continue to work with communities in which they operate. He said this was in accord with the country’s national Vision 2036, some of which pillars call for achieving prosperity for all through Sustainable Economic, Human and Social Development.

LLR readying to absorb market shocks

27th September 2017

Property investment company, Letlole La Rona continues to find investment opportunities in various property sectors in Africa to achieve competitive returns. Commenting on the published results, LLR Chief Executive Officer Paul More said LLR will target sectors and markets in the continent and this will be informed by potential revenue and capital growth to be generated. “LLR will also target acquisitions that come with tenants of competitive covenant strength on long leases, as this will not only guarantee occupation, but also real growth in income through predetermined escalations,” said More.

FNB Botswana increases footprint with new Branch in Mochudi

27th September 2017

First National Bank of Botswana recently officially opened a new branch at Pilane Mall in Mochudi. The Bank’s 23rd Branch was officiated by the Governor of Bank of Botswana, Moses Pelaelo. The Bank, which has renewed its focus on customer-centricity, is making an effort to make banking easier and more accessible to more Batswana.

Orange Botswana/Kwese TV form partnership

27th September 2017

Orange Botswana will soon deliver world-class video content to its customers across the country thanks to its partnership with recently-launched pan-African multi-platform Pay-Tv broadcast network, Kwesé TV. The telecommunications company has joined forces with Kwesé TV to provide its customers with premium entertainment and sports programming on their mobile devices. Leveraging Orange’s speedy 4G network, subscribers will soon be able to stream Kwesé’s premium programming on their connected devices through innovative data bundles, which will be available to its customers.

Minergy making strong progress on Masama project

7th September 2017

Botswana Stock Exchange (BSE)-listed coal mining company, Minergy Limited, yesterday (Tuesday) released its inaugural results for the year ended 30 June 2017, reporting a loss per share of 6,76 thebe. The company embarked on a capital-raising exercise in the first quarter of 2017, raising P70 million via a private placement prior to listing on the main board of the BSE in April this year. Minergy CEO, Andre Boje commented that, “A lot of work had been done and continues to be done since inception.

Bliss Kids Party Décor ready to captivate market

7th September 2017

The passion for events and décor has driven Leungo Kgogwane to establish Bliss Kids Party Décor Company, which now serves as a means of income and has created employment for other young people.

BIHL’s short term insurance continues to suffer

7th September 2017

The first half of 2017 has seen a continuation of challenging market conditions for the short-term insurance at Botswana Insurance Holdings Limited (BIHL) group as it continues to experience a significant decline in new business. The Group led by Cathrine Letebele-Letegele, indicates in its recently released half year results, that in addition to the decline in new business, there has also been a rise in policy cancellations.

Letshego reports double digit growth

7th September 2017

Letshego Holdings Limited has delivered satisfactory results that have yielded good growth at half year for the period ended 30th June 2017. This has seen growth in loans and operating income with Ghana featuring first time since the 100 percent Afb Ghana acquisition in March 2017. The Group’s strategic agenda to build Africa’s leading inclusive finance group, is underpinned by embedding future capability with investment in people and systems to enhance customer experience. Financial highlights for the six months ended 30th June 2017 show total assets increase by 16 percent to P8.7billion from P7.3billion in the same reporting period in 2016.


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