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Daily Finance News Highlights are a www.hotwireprc.com service to our top clients, with daily alerts on what is making Botswana's finance news. |Source: Hotwire
Finance News (Print)

Finance News 7 June 2020

Summaries of today's leading financial news

By Taazima Kala-Essack


Billions at risk! - Cut throat corporate brawls have finally claimed the skull of Botswana Public Officers Pension Fund (BPOPF). (The Patriot)

Jefferies resigns – In terms of the Botswana Stock Exchange equity listing requirements, Sefalana Holding Company Limited (Sefalana) is required to announce through the BSE the resignation of a director of the company. (The Patriot)

Letshego appointments – Following the executive appointments of Andrew Fening Okai as Group Chief Executive on 1st February 2020 and Tinotenda Gwendoline Muteiwa as Group Chief Financial Officer on 1stMarch 2020, the Letshego Holdings Limited Board has appointed both individuals to the LHL Board as Executive Directors. (The Patriot)

Investec Director changes – The Board announces that David van der Walt will be stepping down from the boards of Investec PLC and Investec Limited (together the “boards”) with effect from 4 June 2020, ahead of his retirement from the Investec Group in December 2020. (The Patriot)

Absa offers Purchase Order (PO) Finance – While Botswana, together with the rest of the world continues to experience the rippling effects of the outbreak, this time has also presented opportunities for SMEs. (The Patriot)

ADB boss facing new graft probe – The African Development Bank on Thursday launched an independent inquiry into allegations of embezzlement and preferential treatment against its embattled President Akinwumi Adesina, who is seeking re-election in August, its board of governors said. (The Patriot)

Letshego shareholder update: Covid-19 – Letshego therefore wishes to provide an update to all its valued customers and stakeholders on the Business Continuity Management Plan instituted over this period, as well as incorporated into out outlook going forward. (The Patriot)

Absa donates PPE worth P700 000 to BONU – As part of their corporate social responsibility programme, Absa Life Botswana has donated Personal Protective Equipment (PPE) valued at P700 000 to the Botswana Nurses Union (BONU). (The Patriot)

Freezing temperatures would be good for Botswana’s economy – It has emerged that Botswana’s national economy shares a unique trait with Covid-19 – it thrives under very low temperatures. (Sunday Standard)

“Small-man” takes BancABC to the cleaners – Botswana Stock Exchange (BSE) listed Banc ABC recently escaped the public auctioneer’s hammer by a whisker following a major upset in a David and Goliathesque court battle with a little known trucking company. (Sunday Standard)

Jefferis back in Govt pay-roll while his company “wins” lottery – The former deputy governor at Bank of Botswana – Dr Keith Jefferis this week made a shock reemergence at the government enclave. (Sunday Standard)

It doe not rain but pours for “Dineo tsa Pula” at the national lottery – Grow Mine’s main shareholder is Sefalana Group, a listed Botswana Stock Exchange company that supplies its trade in fast moving consumable goods (FMCG). (Sunday Standard)

Chobe Holdings confident of quick recovery post Covid-19 – The Botswana Stock Exchange listed Chobe Holdings, which owns and operates twelve eco-tourism lodges and camps on leased land in northern Botswana and the Caprivi Strip in Namibia is confident of a fairly quick recovery when it is deemed safe for international travel following the ban due to Covid-19 two months ago. (Sunday Standard)

Letshego executive gives post Covid-19 brief – Letshego Holdings Limited Group says it has recently witnessed select sub Saharan markets progressing toward reviving economic activity with easing levels of lockdown. (Sunday Standard)

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