BOTSWANA POST INCREASES TARIFFS
BotswanaPost have announced an increase in postal tariffs with effect from April 1.
The standard letter will cost P3.20 from P2.60. According to BotswanaPosts’ communique, reviews are necessary to mitigate the operating costs that continue to rise and to meet the regional and international operating standards. The tariffs were last reviewed in 2010. “BotswanaPost has taken bold steps to diversify its products and services range to meet a diversified customer base and to increase its footprint to meet and serve customers wherever they live. The post still offers convenience to businesses and customers through easy access quick transactions and direct delivery, through a network of 121 post offices and 79 postal agencies. Some of the services on offer are postal, money transfers courier services and agency services,” reads the communique.
BancABC TO INCREASE LOCAL STAKE
BancABC has predicted a positive outlook amid posting pleasing set of result for the year ended 31 December.
The Group chief executive officer, Douglas Munatsi stated on Tuesday when announcing the financial result for the year ended 31 December that the bank continues to increase its stake in the local market share.
He said the overall performance of Botswana BancABC subsidiary was strong with attributable profit of P28 million, which translates into 40 per cent of the previous year. The total income improved by 37 per cent to P116 million from P85 million on the back of an increase in both volumes and margins.
He said the net interest income improved by 54 per cent to P80 million mainly due to improved margins and a substantial increase in the balance sheet size, adding that the loan portfolio increased by 109 per cent.
Munatsi said the operating expenses increased by 41 per cent due to an increase in activity as the entity made inroads into the retail banking market. “BancABC successfully signed a number of agreements with government unions, for consumer lending business”.
CAAB OPENS THE SKY
The Civil Aviation Authority of Botswana (CAAB) has authorized more direct air connections to the country.
In a statement the authority said Air Namibia has been approved to expand their operations to Gaborone with three weekly flights between Gaborone and Windhoek. The flights on Tuesdays, Thursdays and Saturdays are in addition to the Windhoek-Maun route which has been operated by Air Namibia for sometime now.
The maiden flight from Windhoek to Gaborone will on May 15. Another development will be the introduction of the Johannesburg-Maun-Johannesburg seven frequencies per week flights operated by the South African Airlink. The route is planned to commence on June 1.
“An approval has been granted by the Aeronautical Authority of South Africa for Air Botswana to expand its route network to include three flights per week from Gaborone to Cape Town on June 1.
“These developments are in line with CAAB’s mission of providing efficient and effective aviation services to customers through continuous development of the aviation industry in Botswana,’’ reads the statement.