Archive for November 21st, 2007

source: Mmegi


SELEBI-PHIKWE: The Palapye Development Trust (PDT) board has taken no action against the anticipated selling of its land mainly because some board members had not been attending meetings since the National Development Bank (NDB) advertised the sale.

NDB is scheduled to sell the land on Friday next week for alleged failure by the trust to pay the bank loan for the construction of the newly opened mall behind BP filling station.

Vice chairman, Dithapelo Tshotlego said they are just surprised as to why some board members who were supposed to be attending all urgent indoor meetings have been absenting themselves since the sad news broke. “We even do not know the reasons behind their continued absence. Even Dikgosi, who are ex-officio members, are very surprised and disturbed. We will definitely have to take serious action against them,” said Tshotlego. There had been about four indoor meetings that the board members in question have not [continue reading]

Shaun Benton

21 November 2007

The cost of hosting the 2010 Fifa World Cup is expected to escalate by between R2.8-billion and R3.4-billion, Deputy Finance Minister Jabu Moleketi says.

Briefing the media on the government’s progress with World Cup preparations, he said that it was a key challenge for the state to contain rising costs.

South Africa has already budgeted about R17.4-billion for 2010 projects, including R8.4-billion to build or refurbish the ten host stadiums and a further R9-billion for supporting infrastructure. The increased cost projections could see total expenditure rising to as much as R20.8-billion.

Moleketi said that government teams working through the 2010 Local Organising Committee as well as the Department of Labour were closely looking into projected cost escalations. No detail will be [continue reading]

Allan Seccombe
Posted: Tue, 20 Nov 2007

[] — SCHARRIG Mining could have an agreement in principle with one or more partners to build a power station and/or a coal-to-liquid fuel plant at one of its jointly owned billion tonne coal deposits in Botswana, CEO Robin Berry said on Tuesday.

The project would be modelled on the CIC Energy project at Mmamabula in Botswana where the Canadian company is building a seven to nine million tonnes/year mine to supply a 2,200-2,400 megawatt power plant.

Scharrig, which will be called Sentula Mining from 26 November, will select which of the three billion-tonne coal deposits it will focus on to conduct a pre-feasibility study by end-March 2009 and a bankable study 18 months later.

“We are looking to [continue reading]

source: BBC News
By Alex Last
BBC News, Abuja

Nigerian President Umaru Yar’Adua speaking to the UN General Assembly (26/09/2007)
President Yar’Adua said he would prefer a regional standby force
The Nigerian government has said it would not allow its country to be used as a base for the US-African military command, Africom.

At a meeting of the National Council of State, President Umaru Yar’Adua said that Nigeria was also opposed to any such bases in West Africa.

He said Nigeria would prefer to work towards the establishment of an African standby force under regional direction.

The decision leaves Liberia as the only country willing to host the Americans.

There has been considerable unease in many African nations about American plans to [continue reading]

source: Mmegi


For the second time in as many months, Standard Chartered Bank Botswana has introduced a new product specifically targeted at assisting the small and medium enterprises (SME) sector.

The latest product, the International Trade Account (ITA), is a deposit-based current account for the SME’S in the import and export industry.

Last month, Stanchart launched the Express Credit Loan, which provides both secured and unsecured loans to small businesses.

According to Pierre Mourier, the bank’s Head of Consumer Banking, the ITA is meant to [continue reading]