Botswana’s Central Bank Holds Interest Rate Steady

Botswana’s Central Bank Holds Interest Rate Steady

CNBCAfrica reports that Botswana’s central bank has decided to keep its main lending rate at 1.90% on Thursday, citing expectations that the economy will remain below capacity and not generate inflationary pressures due to a downturn in the global diamond market. This marks the second consecutive meeting where the rate has been left unchanged. The rate is applied through a seven-day instrument.

December 6, 2024 8

Africa

Botswana and DeBeers sign $1 billion deal

Botswana and De Beers have approved a $1 billion investment to dig under the world's richest diamond mine by volume. The Debswana Diamond Company's board said it has given the go-ahead to works that are to extend the life of the Jwaneng mine turning it from an open-pit site to an underground operation. About 70% of profits for Debswana come from Jwaneng. Here is the Deputy Minister of Mines and […]

January 11, 2024 34

Namibia

Ministry of Mines urges G7 to reconsider proposed restrictions on Russian diamonds

The Ministry of Mines and Energy has expressed concerns about the G7’s proposed restrictions on imports of Russian diamonds and has called for direct and meaningful engagement with all diamond-producing countries on the matter. The intergovernmental political and economic forum consists of Canada, France, Germany, Italy, Japan, the United Kingdom and the United States of America, plus the European Union (EU) as a ‘non-enumerated member.’ The ministry in a […]

December 21, 2023 9