30 Mar 2016

The Minister of Minerals Energy and Water Resources Mr Kitso Mokaila says he is aware that De beers Botswana (Pty) Ltd  has closed its offices in Botswana after it had been dormant for some time.

Responding to a question in Parliament on March 29 he said in fact, with the relocation of De Beers Global Sightholder Sale to Botswana in 2013, De Beers has never had a larger presence in Botswana.

He said in 2008, the operations of the De Beers Botswana (Pty) Ltd and De beers Prospecting Botswana (Pty) Ltd were amalgamated into De Beers Prospecting Botswana (Pty) Ltd and the company name was changed to De Beers Holdings  Botswana (Pty) Ltd (DBHB).

The Minister said DBHB was still operational and undertakes De Beers exploration activities.

He said he was informed that Peo Venture Capital was currently dormant and that its activities were going through a review to determine whether its objectives could be effectively undertaken through another investment vehicle.

The MP for Gaborone North Mr Haskins Nkaigwa had asked the Minister if he was aware that De beers Botswana (Pty) Ltd had closed its offices in Botswana, if so why the sudden closure of the offices and what that meant to the country as a partner with De beers in Debswana.

He had also asked the minister if he was aware that the closure of De beers Botswana office also influenced the closure of Peo Venture Capital, a business development initiative by Debswana and De beers, and why Peo Venture Capital had to close.  ENDS