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“Grudge Product”

The concept of protection dates back to early human society, with examples such as neighbours committing to rebuild a family’s house after a natural disaster occurs or merchants travelling across violent seas to distribute their cargo using multiple vessels to limit the loss from the possibility of one vessel succumbing to the unpredictable.

Protection became so necessary, that it eventually developed to its own industry. The need for peace of mind has often been considered as a non-essential ‘expenditure’ or rather a ‘grudge purchase’. Having different priorities and challenges in our daily lives, one wouldn’t think to make a provision for a ‘grudge purchase’. Having the desire to spend money elsewhere is a common task we’re faced with and in most instances; the protection of the very things you possess is an afterthought.


Being in Insurance, we at Zurich understand that more often than not, the solutions we provide aren’t directly attributable to generating core revenues or increasing a household’s income. As a virtue of this challenge, we strive to ensure that value is derived from risk and knowledge sharing.

The afterthought for you as a client is our job and central focus for protection. The ideal of protection focuses on covering you where you might not see. Be it a fire, electrical failure or theft, these are the most basic forms of occurrences we have to think about on a daily basis. The knowledge gained over the past century has cumulated into a wealth of experience in dealing with the most complex of unpredictable events that result in business interruption, a decrease in value of assets or civil action.


As underwriters, we play a key role in developing economies through risk solutions, mitigating losses and comprehensively reviewing market conditions for the interests of our clients.  We draw on our global expertise and networks to offer distinctive services that respond to the market needs and equip our customers with the appropriate tools to manage risk and protect what they love. As one Zurich, we have highlighted 4 key pressure points:

Digital: this entails cyber-security threats that arise quickly and need constant monitoring.

Lifestyle challenges: includes factors like shifts in demographic patterns and availability of skills.

Physical world: natural disasters, local context

Regulation and Governance.


Having positioned ourselves as a partner for any business or household, we strive to ensure that you are protected in all ways; from the comprehensive assessment of risks, historical insight I previously mentioned last week and ensuring that all possibilities of loss and quantities thereof, are in the best interests of the business or family. Life as we know it is of unpredictable events, both good and bad.

The power that you as a decision maker have is in ensuring that at least one of the two basic types of events is controlled. Through Zurich Insurance Company Botswana, you’re guaranteed the best way over a century of experience can protect your assets.


To learn more about  Zurich Insurance Company, contact us at 363 5015 or visit us at www.zurich.co.za/botswana.

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Business

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
Diamonds

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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