Archive for August 27th, 2007

source: ChinaView
2007-08-27 19:49:09

BEIJING, Aug. 27 (Xinhua) — China and Botswana are willing to advance bilateral cooperation in various fields, senior officials of the two countries agreed here Monday afternoon.

Chinese State Councilor Zhou Yongkang met here with Phandu T.C. Skelemani, Minister of State President of Botswana.

During the meeting, Skelemani expressed the wish to learn from China, the world’s most populated country that has managed to achieve rapid development while maintaining social stability.

Skelemani visits China from Aug. 26 to Sept. 1 at the invitation of the Chinese People’s Institute of Foreign Affairs. It was the lawyer-turned politician’s first trip to China.

Besides Beijing, he will also go to Shanghai, the economic and financial center, and Guiyang, capital city of Guizhou province in the relatively backward southwestern part of China.

Skelemani reiterated Botswana’s stance on sticking to the one-China policy, which he [continue reading]

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source: Engineering News
By: Mariaan Olivier
Published: 27 Aug 07 – 16:41

Japanese firm Sumitomo may buy a 20% equity stake in the Mmamabula energy project, in Botswana, Canadian-listed CIC Energy said on Monday.

The company said that it had entered into a preliminary agreement with Sumitomo on the possible subscription of a 20% equity interest in the first phase of Mmamabula, which would comprise a coal mine and a power station.

CIC Energy and Brittian’s International Power (IPR) each held a 50% stake in the project.

In the first phase, the planned power station would generate between 2 100 MW and 2 460 MW, using between 7,5-million tons and nine-million tons of coal a year. The company had [continue reading]

source: Fin24

Aug 27 2007 01:07 63

Sikonathi Mantshantsha

Johannesburg – The Southern Africa Development Community (SADC) Secretariat has awarded a contract worth $27.4m (R197m) to a consortium that includes South African construction company, Stocks Building Africa.

The Bongwe Consortium signed the public-private-partnership agreement for the construction of the new SADC headquarters in Gaborone.

The Bongwe consortium is made up of Stocks and Stocks Botswana (a division of Stocks Building Africa), Botswana Insurance Fund Management (Bifm), Outsourcing Botswana and Barclays bank in that country.

Stocks and Stocks Botswana would be responsible for the design and construction of the facility, which is anticipated to take about [continue reading]

spurce: allAfrica
Business Day (Johannesburg)

27 August 2007
Posted to the web 27 August 2007

Mathabo Le Roux
Johannesburg

PLANS to ease import tariffs under its recently launched industry policy framework could put SA on a collision course with its neighbours in the Southern African Customs Union (Sacu).

SA’s neighbours are heavily reliant on the shared income from the common revenue customs pool, with this income accounting for more than half of the national budgets of both Lesotho and Swaziland, while Namibia and Botswana also benefit handsomely.

Any change is likely to be raise the ire of the other members of the customs union.

SA wants to use the Sacu tariff book to enhance and aid its industrial development. Primarily, the policy framework identifies four lead sectors, namely capital and transport equipment, and metals; automotives and components; chemicals, plastic fabrication and pharmaceuticals; and forestry, pulp and paper, and furniture. But an array of other sectors will also ultimately receive support, including clothing and textiles, agriprocessing, biofuels, information and communication technology, white goods and retail.

The industrial policy aims to support key [continue reading]

source: IOL
August 27 2007 at 01:47PM

Workers at Cape Town’s 2010 World Cup stadium have downed tools and brought construction to a standstill.

“The entire workforce has downed tools,” Murray & Roberts project director Andrew Fenton told Sapa on Monday afternoon.

He said there were about 800 workers on the site.

Negotiations were under way with union representatives to try to address the workers’ problems “as quickly and amicably as possible”.

Fenton said this [continue reading]

source: allAfrica
Business Day (Johannesburg)

27 August 2007
Posted to the web 27 August 2007

Renée Bonorchis
Johannesburg

THE Bond Exchange of SA (Besa) has been given the go-ahead by the majority of its members to come up with a full proposal to offer foreigners remote access to local debt markets, hopefully before the year is out.

“It seemed no one who was there (at the debate last week) was anti the principle,” said Garth Greubel, head of Besa.

“There must have been at least 80% of our members represented, including national treasury and the Financial Services Board.”

Besa is considering such a move because liquidity appears to be flowing to London’s bond market, among others.

Bruce Simpson, a fixed-interest expert at Sanlam Investment Management and a member of the exchange, said at the weekend that the growth of London’s over-the-counter (OTC) market was of major concern.

“We are a locally based company with a local client base and so believe that it is in our and our clients’ best interests to have a healthy, liquid, transparent and regulated local market,” Simpson said. “We are of the opinion that there is no way to force the London flow to come back to SA.

“Rather, we will need to [continue reading]

source: IOL

August 27 2007 at 09:03AM

By Deon de Lange

Corruption in the embattled Department of Home Affairs has reached such an alarming state that officials are being fired faster than the department can fill vacancies.

This was one of a number of startling revelations made by senior officials from the department during a briefing to parliament’s home affairs portfolio committee on Friday.

Chief of Immigration Yusuf Simons told committee members that “as soon as we fill vacancies, our countercorruption strategies create new vacancies”.

Simons also admitted that the country’s porous borders, infrastructure problems, limited resources, poor management, and the rising influx of refugees and immigrants from the rest of the continent were placing a huge strain on [continue reading]

source: Sunday Standard
by Morula Morula
26.08.2007 7:35:04 P

The Vice President of the Botswana Congress Party, Dr Kesitegile Gobotswamang, rallied behind the Botswana National Front’s call urging all Batswana, irrespective of their political affiliations, to condemn the ruling Botswana Democratic Party’s alleged intention to allow the United States of America army to set up a military base in the country.

Gobotswamang made the call whilst addressing a political rally at the Gaborone Bus Station’s Freedom Square on Thursday afternoon.
Gobotswamang said that the ruling Botswana Democratic Party government had not consulted either Batswana in general or their representatives in Parliament on this very sensitive matter before making conclusions.

The fact that the government has not disputed media reports on this issue, he said, is an indication that there is truth in those reports which he said should worry every Motswana, regardless of his political affiliation.

Most surprising, he said, is the fact that this story comes after the government had signed an agreement with the Americans agreeing that it would not prosecute or hand over to the International Criminal Court American security personnel who commit crimes whilst in Botswana.
He further said that [continue reading]

source: IOL
August 27 2007 at 07:13AM

By Chiara Carter

Deadlines have come and gone but the Department of Trade and Industry is once again promising that the Lotto is about to begin again.

Trade and Industry Minister Mandisi Mpahlwa has been sitting on advice from the National Lotteries Board (NLB) for several months, but department director-general Tshediso Matona says there is nothing wrong; the minister and the department have simply been preoccupied with a variety of demands, and an announcement is imminent.

Matona confirmed at the weekend that everything had been ready for more than a month and said he had hoped to meet with the minister last week to discuss when the big announcement would be made, but a variety of events had intervened. It now seemed their chat would take place early this week.

“We are just waiting for the right moment,” Matona said.

He pointed out that [continue reading]

source: IOL
August 26 2007 at 10:28PM

The establishment of a council to oversee the development of e-skills in South Africa was announced by President Thabo Mbeki at a advisory council meeting on information society and development in KwaZulu-Natal, the department of communications said on Sunday.

The advisory council comprises of a number of high-profile personalities who inform Mbeki on the developing trends in the ICT sector and ways to encourage economic development.

At the meeting held this weekend, an industry proposal was presented on the composition and mandate of the e-skills council and the working group on the council, said communications department spokesperson Albie Modise in a statement.

“The role of the e-skills council is to provide advice on services and programmes that can have a measurable impact on ICT-related skills in [continue reading]

source: allAfrica
Zimbabwe Independent (Harare)

25 August 2007
Posted to the web 26 August 2007

Paul Nyakazeya
Harare

ZIMBABWE’S month-on-month rate of inflation shed 54,6 percentage points from 86,2% in June to 31,6% in July, the biggest decline since the beginning of the recession seven years ago.

However, analysts said the figures are not genuine as consumers were being ripped off on the black market through exorbitant prices due to shortages.

Economists yesterday said the figure could rise by the same margin next month following government’s policy u-turn on the blitz this week.

According to figures from the Central Statistical Office (CSO), the July month-on-month figure witnessed the decline courtesy of the controversial price reduction which has resulted in a number of shops closing, shortage of basic commodities and job cuts.

“Month-on-month food and [continue reading]