Tag: Botswana

Botswana issues license for first large-scale solar power plant

Frank

BOTSWANA – The government of Botswana through its energy regulator has granted a generation license for a 100MW solar project to local firm Shumba Energy, a company executive told IOL, making it the first independent power producer to set up a large-scale solar plant in the country. The southern African nation does not currently have large-scale solar power generation and its 600 MW national energy demand is met by state-owned coal-fired plants and imports, primarily from South Africa and Mozambique. The Botswana Stock Exchange-listed Shumba Energy plans to implement the…

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Diamond mining company Lucara gets US$30.9m financing for Karowe mine expansion

Frank

BOTSWANA – Botswana-focused Lucara Diamond Corp has announced US$30.9 million in financing to support the development and ongoing operation of its Karowe mine. The Vancouver-headquartered company will raise US$18 million on a bought-deal basis at US$0.61 a share and US$13 million in a concurrent private placement to Nemesia and other investors. BMO Capital Markets is the lead underwriter for the public offering with the underwriters having an option to purchase up to an additional 15% of the public offering to cover over-allotments if any. The offering will close on July…

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Botswana and Namibia sign MoI to implement 5000MW solar complex

Frank

BOTSWANA – The governments of Namibia and Botswana have virtually signed a Memorandum of Intent (MoI) for the implementation of their 5,000 MWp mega solar project. Both countries have already received support from the International Finance Corporation (IFC), the International Bank for Reconstruction and Development (BIRD), the African Development Bank (AfDB), as well as the US government’s Power Africa initiative. The Memorandum of Understanding signed between Namibia, Botswana and the international financial institutions comes just days after the signing of a first agreement, also via video conference. These agreements will…

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Nigeria’s Access Bank set to buy controlling stake in African Banking Corporation of Botswana

Frank

NIGERIA – Access Bank, Nigeria’s biggest lender, has agreed to buy a majority stake in African Banking Corporation of Botswana for cash, a month after acquiring a South African bank. The Nigerian bank will acquire just over 78% of BancABC Botswana for an undisclosed cash sum of around 1.13 times book value as well as a two-year deferred payment, Atlas Mara said in a statement. Access Bank is expanding across the African continent to counter stagflation and dollar shortages in Nigeria that have frustrated businesses, shrinking the lending market. The…

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Canadian oil company to start fracking in Okavango Delta, Botswana

Frank

BOTSWANA – Canadian oil and gas firm, Reconnaissance Energy Africa Limited (Recon Africa), is planning to start hydraulic fracturing (fracking) in one of Africa’s most sensitive environmental areas along the Namibia-Botswana border. The move has infuriated environmentalists, civil society organisations and local communities about the long-term effects of the activity on the Okavango Delta, one of Africa’s last natural sanctuaries. In August this year, Recon Africa announced that it was planning to drill oil and gas wells in an environmentally sensitive and highly protected area in southern Africa that supplies the…

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Solar Rooftop Program to improve PV installed capacity in Botswana

Frank

BOTSWANA – The government of Botswana through the Ministry of Mineral Resources, Green Technology and Energy Security (MMGE), have launched a net metering scheme for rooftop PV systems called the Rooftop Solar Programme (RTS) in order to create an enabling environment for end users who can generate their own electricity and sell to Botswana Power Corporation (BPC) and also to improve the country’s PV installed capacity which was at 3MW at the end of last year. Supported by the United States Agency for International Development (USAID) the scheme will run for 3 years and…

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Liquid Telecom intensifies fibre rollout in Botswana

Frank

BOTSWANA – Pan-African telecoms group, Liquid Telecom, is activating 82km of fibre in a cross-border network into Botswana. According to the company, this implementation gives more people in Botswana access to Liquid Telecom’s footprint of over 73,000km of Pan African fibre, and increased access to the global digital economy. This expansion connects the Lobatse Border to Gaborone with intent to create efficient mobility and connectivity in Botswana. “At Liquid Telecom, we have a proven track record of investing in and deploying technology designed to grow, strengthen and build Africa’s digital…

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Botswana Diamonds gets closer to full Sekaka acquisition

Frank

BOTSWANA – Diamond mining company Botswana Diamonds has announced that all the conditions precedent for the acquisition of Sekaka Diamonds, as previously announced on 20th July 2020, have now been satisfied. Sekaka’s Prospecting License which holds the KX36 high-grade kimberlite pipe has also been extended for a further two years to 30th September 2022. “We are grateful to the Botswana Authorities for the quick approval of our acquisition of the KX36 discovery, the extension of the licence and the award of two surrounding licences,” John Teeling, chairman of Botswana Diamonds…

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Galileo Resources completes acquisition of Africibum

Frank

BOTSWANA – Galileo Resources has finalised the acquisition of Africibum and its five prospecting licences in the North East Kalahari Copperbelt project in Botswana. The transaction also includes two mining tenement applications that Africibum had submitted. Galileo will issue 42 million fully paid ordinary shares to Africibum’s shareholders as well as warrants to buy more shares.  Additionally, Galileo will issue one of the seller’s seven-million shares related to reimbursement costs incurred by Africibum to date. “I am very pleased that we have completed the acquisition of Africibum whose licences lie in an…

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Giyani Metals commences 2020 field drill programme in Botswana

Frank

BOTSWANA – Giyani Metals Corp has commenced its 2020 feasibility study field programme for K.Hill manganese project in Botswana Subsequently, the company has appointed a drilling contractor, project management and geological services contractor and their imminent mobilisation. The 2020 Field Programme follows Giyani’s recent successful capital raising, which closed on 18 September 2020. Robin Birchall, CEO of Giyani Metals Corp, commented, “The next step with our feasibility study is to conduct in-fill drilling in order to upgrade the current inferred mineral resource to an indicated mineral resource. We have designed an operational programme…

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