Archive for October 2nd, 2007

source: Sunday Standard
by Sunday Standard Reporter
01.10.2007 9:55:26 PM

Botswana’s Travel & Tourism industry is expected to generate US$1,620 million of economic activity according to the latest Tourism Satellite Accounting (TSA) report produced by the World Travel & Tourism Council (WTTC) and commissioned by the Government of Botswana and the Botswana Tourism Board.

Over the next ten years Botswana’s Travel & Tourism industry is expected to achieve an annualized real growth of 5 percent, exceeding the world average at 4.3 percent and the Sub-Saharan African average at 4.5 percent. According to the forecasts detailed in the report, Travel & Tourism already contributes over 10 percent of total employment and some 16 percent of non-mining GDP.

At the official launch delivered to the Botswana Cabinet, WTTC President Jean-Claude Baumgarten cautioned, “Although this growth is positive and the country is [continue reading]

source: SouthAfrica.info

2 October 2007

South Africa officially opened two new peaking power stations in the Western Cape province, providing an additional 1050 megawatts of electricity during times of high demand.

Engineering News reports this week that the open cycle gas turbine (OCGT) power plants, situated in Atlantis and in Mossel Bay, had been completed by June this year at a combined cost of about R3.5-billion.

Eskom chief executive Jacob Maroga told the publication that the two plants had already been used extensively to supply demand for peak electricity during the winter.

The Ankerlig OCGT Station in Atlantis, to the north of Cape Town, has four 147-megawatt generating units in operation, while the state-owned electricity utility has applied for [continue reading]

source: Mining Weekly

By: Mariaan Olivier
Published: 1 Oct 07 – 15:38
Diamond producers De Beers and African Diamonds might build a one-million-ton-a-year diamond mine in Botswana, the companies’ joint venture firm, Boteti Exploration, said on Monday.

Boteti, in which De Beers hold a 66,2% stake, African Diamonds a 28,8% shareholding, and Wati Ventures a 5,4% stake, said that it could start operations in the last quarter of 2009, should Botswana’s Minerals, Energy and Water Resources Ministry grant the firm a mining licence.

This would be African Diamonds’ first diamond mine in Botswana.

Boteti has submitted its application to [continue reading]

source: IMF
Press Release No. 07/209
September 27, 2007

Mr. Takatoshi Kato, Deputy Managing Director of the International Monetary Fund (IMF), made the following statement today in Gaborone:

“This is my first visit to Botswana. I am grateful for this opportunity and want to thank Vice President Ian Khama, Minister of Finance and Development Planning Baledze Gaolathe, Central Bank Governor Linah Mohohlo, and the other Botswanan officials I met for their kind hospitality.

“This trip has given me a unique opportunity to hear directly from policy makers and others in Botswana about national priorities.

“At my meeting with Vice President Khama, I noted Botswana’s steady progress over [continue reading]

source: allAfrica
U.S. Africa Command (Stuttgart)

PRESS RELEASE
1 October 2007
Posted to the web 1 October 2007

Washington, D.C.

U.S. Africa Command, or AFRICOM, officially stood up today when the organization reached its “initial operating capability” (IOC) to start functioning as the Pentagon’s newest regionally-focused headquarters.

General William E. “Kip” Ward was confirmed by the U.S. Senate on September 28 as AFRICOM’s first commander.

AFRICOM’s IOC marks a realignment of the U.S. Defense Department’s regional command structure, creating one headquarters staff that is responsible to the Secretary of Defense for U.S. military relations with 53 countries on the African continent. For its first year, AFRICOM will operate under U.S. European Command (EUCOM), which currently has responsibility for the bulk of U.S.-African military relationships, as it progressively accepts oversight of the many programs and activities that the U.S. military conducts with African nations. AFRICOM is projected to become a fully operational unified command by October 2008.

Since February 2007, a team of military and civilian specialists in Stuttgart, Germany has been designing the organizational structure and [continue reading]

source: SW Radio Africa

By Tichaona Sibanda
1 October 2007

According to Reserve Bank Governor Gideon Gono the country’s central bank will soon launch a new currency in a bid to curtail a widely-used black market for foreign exchange and fight the world’s highest rate of inflation.

Speaking on Monday Gono also announced that the central bank would raise its main lending rate from 650 percent to 800 percent to tame the ‘angry and formidable’ inflation. The opposition MDC described the plan to introduce a new currency as ‘madness’ and a dream by the government.

The acting treasurer-general of the Tsvangirai camp, Elton Mangoma said a new currency at this stage of the economy won’t help as it would also rapidly depreciate on a daily basis.

‘I really think these guys have no other plans for this economy. If they believe their new policies will [continue reading]





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