Tax incentives for SPEDU companies

The Minister of Finance and Economic Development, Kenneth Matambo has said plans are underway to introduce a specific regional tax incentive through which companies operating in the Selibe Phikwe Economic Diversification Unit (SPEDU) will be granted the Development Approval Orders. Matambo told parliament this week that his ministry together with that of Investment, Trade and Industry, is busy finalising this instrument.

8th August 2017

Sefalana’s Commercial Motors relocates to Setlhoa

8th August 2017

Sefalana Group has announced that it is planning to relocate Commercial Motors to the Setlhoa properties along the A1 road to give it better visibility and exposure to customers because it is currently not doing well in Broadhurst. Sefalana Group Managing Director, Chandra Chauhan said the performance of the company is very much dependent on government tenders placed in the market.

LG unveils Multi V5 Air Conditioner

8th August 2017

The new LG Heating Ventilation and Air Conditioning (LG HVAC Botswana) has brought forth a Multi V 5, VRF air conditioner intended for buildings including office blocks, malls and enormous houses. According to LG HVAC Engineering Manager William Aphane, the air conditioner has fully improved its technological power with ever powerful and reliable yet economical LG’s ultimate inverter compressor and the ocean Black Fin with the most effective corrosion resistant performance and biomimetic technology.

Pula Medical Aid expects poor results

2nd August 2017

Pula Medical Aid is expecting lower profits by the end of the year as a result of rising due to costs driven by the rising cases of non-communicable diseases, a top executive has disclosed. At the end of 2016/17 third quarter (March 2017), the fund recorded P7.8 million surplus against P22.7 million recorded in the prior period. Presenting the fund’s performance, Associated Fund Administrators’ Managing Director Duncan Thela said the decline was caused by high health care costs claims which increased by P21.6 million (14 percent year on year).

MADE exhibitors strike business deals

2nd August 2017

Exhibitors at the Manufacturing and Distribution Exhibition (MADE) 2017 held last week have expressed satisfaction with the show after managing to clinch business deals and interact with clients. The three day business event attracted local manufacturers, distributors, suppliers and industry affiliates across the world. United Refinery Botswana finance manager, Lorato Bojosi, whose company was one of the exhibitors, said through the event, they managed to meet new and old customers.

Debswana picks De Beers rough diamonds output

2nd August 2017

De Beers, the world biggest diamond producer has mined 8, 7 million carats of rough diamonds, up 36 percent in the second quarter of the year, its parent company has disclosed.

Property market takes a knock in the absence of foreign retailers

11th July 2017

The suspension of issuance of trading licences to foreign retailers has negatively affected the local property market leading to lower prices and revenue loss, complains Turnstar Holdings Managing Director Gulaam Abdoola. He said the issue has contributed to the vast challenges in the property market in Botswana.

BTCL stock bullish into July

11th July 2017

R Botswana Telecommunications Corporation Limited last week closed the week trading 15 thebe higher for the week, a 11.8 percent climb following the release of the company’s financial results for the year ended March 2017. The company’s profits rose by P608.2 million, from a deficit of P370mn to P272.3 million for the year, after revenues grew by 8 percent to P1.6 billion.

Engen declares special dividend

11th July 2017

Engen Botswana Limited has declared a special dividend of 40.70 thebe (gross) per share for the year ended 31 December 2016. A statement from the company’s Managing Director Chimweta Monga and Chairman Dr Shabani Ndzinge has revealed.  The dividend will be payable on or about the 21st of July 2017 to those shareholders registered at close of business on the 14th of July 2017.

FNBB closes trading period

11th July 2017

First National Bank Botswana’s final financial results for the year ended 30 June 2017 are said to be in the process of being prepared and are expected to be published on or about August 2017. According to the Chief Finance Officer, Makgau Dibakwane, in compliance with the Botswana Stock Exchange rules and good corporate governance, the Company declared a closed period from 1 July 2017 ending on the date of publication of the financial results. During this period members of the Board and Staff of the Company are prohibited from dealing directly or indirectly in the listed securities of the Company in any manner. Any changes to these dates will be communicated in writing.

Choppies closes trading period

11th July 2017

The preparation of the results of Choppies group for the year ended 30 June 2017 is in progress and will continue until Thursday 21 September 2017 or thereabout when the results for the year are expected to be published. Choppies CEO, Ram Ottapathu has announced. In line with good corporate governance and in compliance with the Botswana Stock Exchange Rules, the company declared a closed period commencing with effect from 4 July 2017 and ending on the date of publication of the financials for the year ended 30 June 2017.

Aon drills farmers on business planning and insurance

11th July 2017

Aon Botswana in partnership with Thari Communications held a two-day small stock workshop this past weekend at the University of Botswana, under the title “Small stock risk and Insurance business planning workshop”. At the workshop, participants were taken through a variety of issues that can disrupt their businesses from operating and shown how having an agriculture related insurance can help them recover. Apart from risk and insurance, the farmers were also trained on how to write an effective business plan. Some of the topics covered included basic record keeping, heart water, nutrition, financial projections, marketing, breed selection, herd performance and farm structures.

PS worried at slow pace of doing business reforms

14th June 2017

Doing Business reforms are being implemented at a very unsatisfactory pace, disadvantaging on the ease of doing business in Botswana. The PermanentSecretary in the Ministry of Investment, Trade and Industry, Peggy Serame admitted that, “we have not been as fast as we needed to be on implementing the business reforms and we are working on it.” The reforms were first approved by Cabinet in 2014.

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