Archive for December 6th, 2007

source: Mmegi


The Minister of Works and Transport Lesego Motsumi has confirmed that the government is going to spend P100 million on recapitalizing the national airline to improve its performance and make it ready for privatisation.

This follows the collapse of privatisation talks between government and South African Airlink two months ago.

“The government remains concerned that the coverage and quality of air transport services are less than (what) we require,” Motsumi said in Parliamnet yesterday. “Better air transport services are vital for economic diversification and employment creation, particularly in the tourism sector.”

Motsumi revealed that government has decided to [continue reading]

source: Mmegi

DURBAN: Construction of the Eastern Africa Submarine Cable System (EASSy), a 9 900km-long optical submarine cable between Durban and Port Sudan, is expected to begin in mid-December.

A group of development banks, including the International Finance Corporation (IFC), announced a $70.7-million investment in the project, reports

The IFC said in a statement last week that it would provide long-term financing to the value of $18.2-million, while the African Development Bank, the European Investment Bank, Germany’s development bank KfW and the French development bank AFD would jointly provide the rest.

The total cost is $235-million and the rest of the financing will be provided by a consortium of [continue reading]

source: IOL
December 05 2007 at 04:12PM

South Africa said on Tuesday it would not sign a new trade pact with the European Union until its concerns over possible “detrimental impacts” new accords could have on Africa had been addressed.

“SA is very much opposed to the inclusion of certain trade and services clauses in the new accord that the European Union wanted.

“We objected to that because we thought that the impact … to Africa will be detrimental,” foreign ministry deputy director general Gert Grobler told journalists.

The European Commission and the 78 African, Caribbean and Pacific countries making up the ACP group are struggling to clinch new agreements by December 31, when current preferential trade and tariff conditions expire. The new agreements would require ACP countries to gradually open their markets to European goods in exchange for open access to European markets from January 1, 2008, with the exception of rice and sugar.

Existing trade agreements giving preferential market access to [continue reading]

source: SW Radio Africa

By Henry Makiwa
5 December 2007

The ongoing cash shortages look set to persist with the blessing of the government as analysts say the Mugabe regime is using the crisis as a “tool” to control people.

It has been learnt that despite the serious cash squeeze that the country is experiencing, new money has been printed for use by a few within the Mugabe administration. The move is a double-barrelled ploy to fund Mugabe’s cronies and keep back monetary resources from perceived critics and the opposition.

Sources at the Reserve Bank and some commercial banks on Wednesday confirmed knowledge of a scheme by government to control the populace by denial of their hard-earned money. Keeping back money will ensure that people are restricted from movement and travelling in the run up to next March’s crucial elections. Many people working in towns will also find it hard to make the traditional journey to their rural homes this Christmas.

It is understood that trillions of dollars have been injected into countries within the [continue reading]

source: IOL
Staff Writer
December 05 2007 at 06:04PM

The project director of the Green Point 2010 World Cup stadium has dismissed concerns that the multi-million rand development would not able to meet its timelines, boldly claiming construction would be finished by 2009.

Andrew Fanton, project director of building Cape Town’s soccer venue for the 2010 soccer tournament, told the Cape Argus that, despite construction delays, the development was on schedule.

To ensure that all stakeholders, especially the workers, understand the need to complete the project on time, Murray & Roberts WBHO, the joint venture company tasked with building the stadium, has established a training centre at the construction site. The centre also provides skills training opportunities for the workers.

Meanwhile soccer fever is building ahead of [continue reading]

source: Mmegi


FRANCISTOWN: The Bank of Baroda willofficially open its first branch in Francistown today after receiving an operating licence from the Bank of Botswana (BoB).

“All the necessary logistics, like staff recruitment have long been completed and we were just waiting for Bank of Botswana to give us the go ahead,” said Ravi Sharma, the senior manager of the new branch.

Sharma said reasons to open a branch in Francistown are both strategic and demand-based. The decision was in response to the economic boom in the city and demand for their services from potential customers.

The branch is located on [continue reading]

source: allAfrica
Business Day (Johannesburg)

5 December 2007
Posted to the web 5 December 2007

Sanchia Temkin

ACCESS of black South Africans to senior and middle management posts has come a long way since 1994, but is being stalled by difficulties in finding experienced candidates and the general skills shortage plaguing the country.

These were findings in a new report released yesterday by human resources consultancy P-E Corporate Services.

In its latest salary and working conditions survey of more than 850 companies employing more than 1,5-million people, the consultancy shows that just under 25% of senior management posts are held by black executives.

While this compares favourably with less than 5% in 1994, the penetration level has shown a minimal increase in [continue reading]

Mugabe won`t listen

source: ZimNews
author/source:News24 (SA)
published:Tue 4-Dec-2007

“He is also planning on giving them a lesson”

Brussels – Zimbabwean President Robert Mugabe is unlikely to listen to his European critics at the EU-Africa summit in Lisbon this weekend, the Zimbabwean Human Rights Association warned on Tuesday. “Mugabe is not going to listen and I think as much as they (Europeans) are planning on giving him a lesson, he is also planning on giving them a lesson,” the group’s president Arnold Tsunga told a human rights conference in Brussels. “He is going to be referring to historical disadvantages Africa has suffered from the colonial process, out of slavery. He is going to divert from the real issues,” he said, adding Mugabe uses the same rhetoric with his own people. The nation’s institutions “are made to brainwash Zimbabweans and to portray Zimbabwe as a country under siege and penalised for trying to allow for blacks to be in control of their own economic destiny,” the lawyer added.

The Portuguese presidency of the European Union invited Mugabe to the EU-Africa summit on Saturday and Sunday despite a warning from British Prime Minister Gordon Brown that [continue reading]