Archive for April 28th, 2010
The value of Foreign Direct Investment (FDI) facilitated by the Botswana Export Development and Investment Authority (BEDIA) dropped by approximately 69 percent last year as the global recession restricted capital flows and blunted the country’s allure to investors.
Yesterday, the government’s key foreign investment agency unveiled lacklustre FDI figures for 2009 indicating a 68.8 percent decline in investment to P319.7 million. This was against a target of P550 million for the year.In comparison, in the 2008/09 financial year, BEDIA facilitated foreign investment in Botswana worth P539.9 million against a target of P500 million. Over the same period, these investments created 2, 044 jobs while for the 2009/10 reporting period the P319.7 capital investment created 225 jobs. During both years, the [continue reading]
The Citizen (Dar es Salaam)
27 April 2010
Poor infrastructure is eroding Africa’s competitiveness as an investment destination.
To improve the situation, the World Association of Investment Promotion Agencies (Waipa) is calling on the continent to find a lasting solution to the problem.
In a statement obtained in Dar es Salaam, Waipa vice-president Emmanuel ole Naiko told the First Africa Regional Investment Conference in Yaoundé, Cameroon, that poorly interconnected air routes within the continent and barriers to cross-border trade were discouraging investors.
Mr ole Naiko, who doubles as the Tanzania Investment Centre executive director, also bemoaned poor connection of roads, railways and ports.
He said most of such facilities targeted Europe and the US instead of [continue reading]
Kgosi Kgafela and his regiments do not have any legal or administrative authority to impose civil or criminal reprimand upon the Family of God Church (FoG) or other affiliates of the Evangelical Fellowship of Botswana (EFB).
In an interim ruling issued yesterday following an urgent application by both the EFB, as the first applicant and FoG, as the second applicant, Justice David Newman of the High Court ordered Kgafela and his regiments to lay their hands off the Family of God Church and all evangelical and Pentecostal churches in Kgatleng. Kgafela was cited as 1st respondent in the matter, his brother Mmusi was cited as the second respondent and Morafe was [continue reading]
The Nation (Nairobi)
27 April 2010
Harare — A High Court judge has given the cash strapped Zimbabwe government the nod to start selling diamonds from a controversial diamond field whose exploitation has been met with sharp criticism from human rights groups.
President Robert Mugabe’s administration in 2006 seized mining claims from the British registered Africa Consolidated Resources accusing the firm of illegal mining in the country.
After years of uncontrolled mining and smuggling of diamonds, the government last year gave the claims two companies that have partnered the Zimbabwe Mining Development Corporation to start commercial mining.
ACR had approached the High Court seeking an interim order interdicting the Minerals Marketing Corporation of Zimbabwe, ZMDC and the two companies from selling the precious stones from the Chiadzwa diamond fields.
The company argued that it still owns the claims from which the [continue reading]