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Leina Gabaraane to take the reins of Stanbic Bank Zambia

Stanbic Bank Botswana wishes to advise valued stakeholders that Leina Gabaraane, our current managing director, will take the reigns as Chief Executive of Stanbic Bank Zambia effective 18th January 2018. Leina moves on to this exciting assignment after 10 years of leading Stanbic Bank Botswana.

Leina joined the Standard Bank Group in 2002 as Principal Business Development Officer (Projects) at Stanbic Investment Management Services (SIMS) and excelled through the ranks to Executive Director at SIMS in 2004. In 2007, Leina was appointed Deputy Managing Director of Stanbic Bank Botswana and promoted to Managing Director in 2008. He started his career at Botswana Development Corporation (BDC), in 1995 where he joined as Assistant Operations Officer responsible for business development, project evaluation and monitoring. Leina currently sits on the Board of Stanlib, Liberty Life and UB Foundation.

“We are very pleased to share this great news of Leina’s next chapter, moving on to a much larger market in Zambia, and taking the culture, passion, experience and learning from our Botswana business with him. This is something we are all tremendously proud of, and we look forward to seeing yet another export of Botswana talent, which serves us well in showcasing the depth of skill Botswana have and can be proud of, and indeed bringing learnings back for us to continue to grow here. We are confident that the Zambia business will come to appreciate his immeasurable leadership as much as the team he leaves in Botswana have over the last decade,” said Chief Executive – Africa Regions, Sola-David Borha.

During the last 10 years in Botswana, Leina grew Stanbic Bank Botswana to be a trusted banking partner to Batswana for 25 years. He drove the increase of Stanbic Bank’s market share and expansion of its footprint from being the 4th largest bank in Botswana to now being the 3rd largest. Under his leadership, Stanbic Bank Botswana received the following internationally recognised accolades:

Best Foreign Exchange Provider in Botswana 2013, 2014, 2015, and 2017 (Global Finance Magazine);
Best Investment Bank in Botswana 2016 (EMEA Finance);
Bank of the Year in Botswana 2016 (The Banker Magazine); and
Best Innovative Bank in Botswana 2017 (Global Finance Magazine).
This is above and beyond having implemented and championed a number of well recognised strategic initiatives, both on the business and community fronts.

Concluded Leina Gabaraane, “I am incredibly excited for this next phase in my journey, and take with me memories and relationships with our staff, customers, partners, and various valued stakeholder’s. One cannot describe the importance of the family we have grown here, and for this I am grateful. Now, with a new challenge and a new opportunity, I look forward to helping grow the Standard Bank narrative in Zambia, and moving another market in Africa forward. After all, Africa is our home and we drive her growth.” Details on the Interim Acting Chief Executive will be shared in due course, and the process of identifying a permanent person for the role has begun. Updates will be shared accordingly.

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Matsheka seeks raise bond program ceiling to P30 billion

14th September 2020
Dr Matsheka

This week Minister of Finance & Economic Development, Dr Thapelo Matsheka approached parliament seeking lawmakers approval of Government’s intention to increase bond program ceiling from the current P15 Billion to P30 billion.

“I stand to request this honorable house to authorize increase in bond issuance program from the current P15 billion to P30 billion,” Dr Matsheka said. He explained that due to the halt in economic growth occasioned by COVID-19 pandemic government had to revisit options for funding the national budget, particularly for the second half of the National Development Plan (NDP) 11.

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Lucara sits clutching onto its gigantic stones with bear claws in a dark pit

14th September 2020
Lesedi La Rona

Botswana Stock Exchange (BSE) has this week revealed a gloomy picture of diamond mining newcomer, Lucara, with its stock devaluated and its entire business affected by the COVID-19 pandemic.

A BSE survey for a period between 1st January to 31st August 2020 — recording the second half of the year, the third quarter of the year and five months of coronavirus in Botswana — shows that the Domestic Company Index (DCI) depreciated by 5.9 percent.

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Botswana Diamonds issues 50 000 000 shares to raise capital

14th September 2020

Botswana Diamond PLC, a diamond exploration company trading on both London Stock Exchange Alternative Investment Market (AIM) and Botswana Stock Exchange (BSE) on Monday unlocked value from its shares to raise capital for its ongoing exploration works in Botswana and South Africa.

A statement from the company this week reveals that the placing was with existing and new investors to raise £300,000 via the issue of 50,000,000 new ordinary shares at a placing price of 0.6p per Placing Share.

Each Placing Share, according to Botswana Diamond Executives has one warrant attached with the right to subscribe for one new ordinary share at 0.6p per new ordinary share for a period of two years from, 7th September 2020, being the date of the Placing Warrants issue.

In a statement Chairman of Botswana Diamonds, John Teeling explained that the funds raised will be used to fund ongoing exploration activities during the current year in Botswana and South Africa, and to provide additional working capital for the Company.

The company is currently drilling kimberlite M8 on the Marsfontein licence in South Africa and has generated further kimberlite targets which will be drilled on the adjacent Thorny River concession.

In Botswana, the funds will be focused on commercializing the KX36 project following the recent acquisition of Sekaka Diamonds from Petra Diamonds. This will include finalizing a work programme to upgrade the grades and diamond value of the kimberlite pipe as well as investigating innovative mining options.

Drilling is planned for the adjacent Sunland Minerals property and following further assessment of the comprehensive Sekaka database more drilling targets are likely. “This is a very active and exciting time for Botswana Diamonds. We are drilling the very promising M8 kimberlite at Marsfontein and further drilling is likely on targets identified on the adjacent Thorny River ground,” he said.

The company Board Chair further noted, “We have a number of active projects. The recently acquired KX36 diamond resource in the Kalahari offers great potential. While awaiting final approvals from the Botswana authorities some of the funds raised will be used to detail the works we will do to refine grade, size distribution and value per carat.”

In addition BOD said the Placing Shares will rank pari passu with the Company’s existing ordinary shares. Application will be made for the Placing Shares to be admitted to trading on AIM and it is expected that such admission will become effective on or around 23 September 2020.

Last month Botswana Diamond announced that it has entered into agreement with global miner Petra Diamonds to acquire the latter’s exploration assets in Botswana. Key to these assets, housed under Sekaka Diamonds, 100 % subsidiary of Petra is the KX36 Diamond discovery, a high grade ore Kimberlite pipe located in the CKGR, considered Botswana’s next diamond glory after the magnificent Orapa and prolific Jwaneng Mines.

The acquisition entailed two adjacent Prospecting Licences and a diamond processing plant. Sekaka has been Petra’s exploration vehicle in Botswana for year and holds three Prospecting Licenses in the Central Kalahari Game Reserve (Kalahari) PL169/2019, PL058/2007 and PL224/2007, which includes the high grade KX36 kimberlite pipe.

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