Archive for November 26th, 2007

source: BOPA
26 November, 2007

GHANZI – Small Medium and Micro Enterprises (SMMEs) have been urged to take advantage of Botswanas consumption needs and venture into businesses geared towards import substitution.

Speaking at the official launch of Local Enterprise Authority (LEA) Branch office in Ghazi recently, Christian De Graaff, who is the member of Parliament for the area, said the country consume over 70 per cent as imports and called for a revived SMMEs to reverse the situation.

The fact that Botswana is a signatory to a number of regional and international agreements there is an opportunity for our SMMEs to penetrate markets, said the De Graaff.

He however said the agreements also open up the local market for imports and called for the introduction of measures that would ensure that locally produced products are able to compete internationally This could be made possible if strategies for skills development, capacity building, product research, improved productivity, product innovation and many others are put in place.

He said lack of data on performance of SMMEs remains one of the impediments to the development of the sector in Botswana said De Graaff.

This therefore calls upon LEA to ensure that it starts keeping data on [continue reading]

source: BOPA
26 November, 2007

KASANE – Southern Africa has made good progress in controlling Malaria disease, says the World Health Organisation representative, Mrs Kentse Moakofi.

Speaking at the SADC malaria commemoration day held in Kasane, Mrs Moakofi said progress had been made because of the positive attitudes towards malaria control by individual countries and the region as whole.

Countries recognise Malaria as the number one killer and a major contributor to poverty and have taken a lead in scaling up the delivery of Malaria interventions at all levels, she said.

The priority in malaria control for the region is to achieve a massive level of delivery for malaria control to make a logical move towards the achievement of the Abuja targets, aimed at halving the malaria morbidity and mortality by the year 2010,she said.

She said the impact of malaria on the economy of local communities and households is significant.

Malaria drains the economy of African nations and traps their people in poverty, ironically effective tools and medicines and control strategies are available and could dramatically reduce the deaths and sufferings caused by this disease, she said.

Mrs Moakafi said in the SADC region, Malaria and HIV are major emerging concerns and [continue reading]

source: allAfrica
The East African (Nairobi)

26 November 2007
Posted to the web 26 November 2007

Francis Ayieko
Nairobi

Many African economies appear to have turned the corner and have embarked on the path of faster and steadier economic growth, says a new World Bank study.

According to the Africa Development Indicators 2007 study, released in South Africa on November 14, the solid economic performances across Africa between 1995 and 2005 contrast sharply with the economic collapse of the 1975-1985 decade and the stagnation experienced between 1985 and 1995.

The report indicates that sustained and equitable economic growth can be achieved by accelerating productivity and increasing private investment. Accomplishing this, the report notes, will require improving the business climate and infrastructure in African countries, as well as spurring innovation and building institutional capacity.

“Over the past decade, Africa has recorded an average growth rate of 5.4 per cent, which is at par with the rest of the world. The ability to [continue reading]

source: BOPA
26 November, 2007

GABORONE – The long awaited new Bank Gaborone main branch, furbished at a significant investment of one million Pula was officially opened last week.

Speaking at the opening ceremony the Managing Director of Bank Gaborone Mr Andre Barnard said the new branch marks the beginning of the banks network expansion in Gaborone and the rest of the country in the medium to long term.

He said that the branch offers convenient banking to Gaborone customers with a spacious 720 square metres of banking hall and state of the art equipment including two ATMs.

The branch will be led by Mr Moses Matlala and will employ nine tellers, two of which will be dedicated to bulk teller services, four sales staff and three customer service staff, he said.

Mr Barnard proudly asserted that over the past year the bank experienced positive response from the public, adding that the number of accounts opened has proven that the economy still needs and will support commercial banks that offer excellent services and products.

Our services and products range include, Home loans, commercial loans, vehicle and asset finance, savings accounts and ATM devices. He said the bank also offers treasury services, wholesale banking and [continue reading]

source: SouthAfrica.info

26 November 2007

The local motoring scene is in for some extra Va va voom, with French car manufacturer Renault announcing plans to start manufacturing its entry-level Sandero hatchback in South Africa from early 2009.

Speaking to reporters in Johannesburg on Wednesday, Patrick Pelata, Renault’s vice president of Asia-Africa projects, said the company would assemble the cars at a plant owned by its affiliate, Nissan Motor, in Rosslyn, north of Pretoria.

“South Africa is considered as an important market for Renault’s worldwide growth because of its growing automotive market, with an increase of 73% between 2003 and 2006,” Renault South Africa said in a statement.

The Sandero, “a new step in Renault’s globalisation,” will first be launched and produced in South America in December 2007 before arriving in Europe in mid-2008 and South Africa in early 2009.

While it is primarily aimed at the SA market, Pelata said the [continue reading]

source: BOPA
26 November, 2007

SEROWE – Mosolotshane, Bonwapitse and Mmutlane are among villages that will benefit from the rural electrification programme, says minerals, energy and water resources minister, Mr Ponatshego Kedikilwe.

Addressing a kgotla meetings at the three villages, Mr Kedikilwe said the National Grid Rural Electrification programme in Botswana began in 1975 as part of governments efforts to promote rural development.

He told residents of the three villages that the programme would contribute a lot to economic growth of the country through development of small-scale industries thus creating employment.

Residents heard that during NDP 9 the government intended to electrify a total of 105 villages, adding that the project had been impeded by lack of funds.

In addition, he said to date only 15 of the 105 villages had been electrified during 2003/2004 financial year.

However, he said the government had been able to secure funds to electrify 130 more villages for the [continue reading]

source: Mmegi

STAFF WRITER

The Directorate of Public Prosecutions is setting up a regional office in Palapye as part of long term plans to phase out the police from doing prosecution work.

“Gradually people will see more lawyers taking up prosecution duties to relieve police officers who are overwhelmed by their police work,” says Chief Prosecuting Officer, Wesson Manchwe, who is the Officer in Charge of the Palapye regional office.

The office will cover Botswana’s South Central villages such as [continue reading]

source: Sunday Standard
by Sunday Standard Reporter
25.11.2007 10:18 P

Inflation figures moved in zigzag bands in the last three months to burst through the Bank of Botswana ceiling for the second time within the period but the business community was optimistic that it would remain within the confines in the long term.

According to figures released by the Central Statistics Office (CSO), the consumer price index edged from 6.8 percent to 7.3 percent in October at the back of food price spike and vehicle prices. Food annual price hike was recorded at 12.9 percent against 12.5 in the previous month while transport’s annual rate accelerated from 4.9 percent to 7.7 percent.

“We hold a long term view that inflation will stabilize around the bank of Botswana target range. That is around seven percent and at the most [continue reading]

source: Sunday Standard
by Thato Molefe
25.11.2007 10:16:15 P

The Ministry of Education is introducing and phasing in an entrepreneurship education program developed by a United Nations agency, the International Labour Organisation (ILO) in 1997. The program, titled Know About Business (KAB), will be introduced in 10 senior secondary schools, and 3 vocational institutions.

KAB was launched in May last year and will be first taught in the next school year. The program is designed to induct entrepreneurial attitudes and behaviour into students aged between 15 and 25.
Geneva-based Klaus Haftendorn, who is Global Coordinator of Know About Business, spoke to The Sunday Standard at Enterprise Botswana premises, during his recent trip to Gaborone.

“Jobs are in demand worldwide, in developing countries 50 percent of the population are under the age of 25, the labour market cannot absorb them all,” Haftendorn said. “What KAB does is convert jobseekers into job creators.”
The program has been introduced in more than [continue reading]

source: Mmegi

WANETSHA MOSINYI
CORRESPONDENT

FRANCISTOWN: Venture capital and private equity fund management firm, Venture Partners Botswana (VPB),which currently manages the CEDA Venture Capital Fund, is in the process of raising money for a second fund which will be capitalised to the tune of 150 million euros.

VPB Marketing Associate Diphuka Maganu told Business Week that the new fund aims to achieve its first close in June 2008 on 60 million euros, and they anticipate that 60 percent of the capital will be from Botswana.

Maganu said the private equity firm intends to invest across the region in countries such as Zambia, Namibia and Angola.

“Because of the Southern African Development Community, whose aim is to harmonise economic development in [continue reading]

FNB launches FirstPlus

source: Sunday Standard
by Kgomotso Kgwagaripane
25.11.2007 10:19 P

Continuing with its tradition of banking innovation, the First National Bank Botswana (FNBB), a wholly owned subsidiary of First National Bank Holdings Botswana, has introduced a whole new way of banking excellence dubbed FirstPlus Campaign.

This campaign is expected to bring an innovative array of products and service from the bank.

Bomolemo Selaledi, the Head of Marketing and Communication, said historically, FNBB has always been active as a banker and provider of financial services to its customers. However, she said it is now going to the market with an array of solutions that have been bundled and packaged to meet a specific and growing need, proven through recent customer research feedback.

She further stated that the integrated campaign would still maintain a separate product identity and personality, though focusing on cross selling of [continue reading]

source: allAfrica
The Monitor (Kampala)

25 November 2007
Posted to the web 25 November 2007

Grace Matsiko, Grace Natabaalo & Frank Nyakaru
Kampala

A CAREER Indian diplomat has beaten two other candidates to take the job of secretary general of the Commonwealth, replacing Mr Don McKinnon of New Zealand.

The Commonwealth heads of state and government, now in retreat at Munyonyo on the southern outskirts of Kampala, named Mr Kamalesh Sharma to the job on Saturday morning.

“He will be taking the job in April next year,” Mr McKinnon, who steps down on March 31, said while announcing the leaders’ choice of his successor.

Mr Sharma, India’s High Commissioner to Britain, defeated Mr Michael Frendo, the foreign minister of Malta, and Dr Mohan Kaul, the head of the Commonwealth Business Council.

Both Mr Sharma and Mr Frendo were backed by [continue reading]

source: Sunday Standard
by Sunday Standard Reporter
25.11.2007 10:02:40 P

Aviva Corporation, the Perth–based energy company, is on Monday to enter the open-cry Botswana Stock Exchange (BSE) as part of its long term plans to raise capital to develop its Mmamantswe coal finds aimed at mitigating the impending southern African power shortage.

The Australian Stock Exchange listed company said in its pre-listing statement ahead of its secondary listing on the BSE that it was upbeat about the Mmamantswe project – which lies 110 km north-east of the capital Gaborone – as a viable project with an estimated resource to last for 70 years.
The Mmamatswe concession area fell into the hands of Mawana Minerals (Pty) Limited—a company owned by Paul Ramaloko and his family — some time last year after the discoveries made by JCI and BP in the 1960 and 1980s.

And in April this year, Ramaloko invited the [continue reading]

source: Mmegi

BRIAN BENZA
STAFF WRITER

Property giant Prime Time Property Holdings is set to list on the Botswana Stock Exchange (BSE) next month after this week’s opening of its Initial Public Offer (IPO) through which the company hopes to raise about P107 million capital.

The company, whose portfolio ranges from retail property, to office and industrial property, officially opened its IPO on Tuesday and is scheduled to run until December 7.

During this period the public will be able to buy Prime Time shares at P1.25 per share with over six million shares on offer.

Speaking at a press conference in Gaborone on Wednesday, Geoffrey Bakwena, Head of Stockbrokers Botswana, the sponsoring brokers for the placement, said the BSE listing committee has already given the green light for [continue reading]

source: Sunday Standard
by Sunday Standard Reporter
25.11.2007 10:06:13 P

Moti Ganz, chairman of the Israeli Diamond Institute (IDI), and President of Israeli Diamond Manufacturers Association said that Africa holds the greatest economic opportunities today and urged the industry to invest in Africa as part of the diamond beneficiation process.

Speaking in Tel Aviv recently at a conference marking 50 years of economic cooperation between Israel and Africa, Ganz praised the rise of stable democratic regimes in Africa —and Botswana in particular – saying the new developments provide a greater call for “beneficiation” on the part of African diamond producer countries.

He said that Israeli diamond manufacturers have recognized the economic opportunity, and are leading the creation of a local manufacturing industry, alongside the mining activities in producing countries.

So far, the three leading diamond producer countries of Botswana, Namibia and South Africa are at the fore-front of the [continue reading]