Archive for January 4th, 2008

source: BOPA
04 January, 2008

GABORONE – African Alliance Botswanas unit trust funds are suitable for all investors, large or small who want to be exposed to both local and global financial markets.

Speaking in an interview, the Funds Portfolio Manager, Ms Claire Mathe explained that a unit trust is an investment that enables investors to pool their money along with other investors who have similar investment objectives.

She explained that investment managers such as African Alliance then invest this pool of funds in a wide range of financial assets such as equities, bonds and cash, issued in both local and international markets.

Ms Mathe noted that the value of the pool of invested money is split into equal portions called units.

She added that there are four types of unit trusts that one can invest in at African Alliance Botswana, namely the African Alliance liquidity fund, value fund, global allocation and [continue reading]

source: BOPA
04 January, 2008

GABORONE – The number of people entering and leaving Botswana through the Tlokweng border post on New Years day was low compared to the period starting from December 21 until after Christmas.

In an interview, the officer in charge of Tlokweng Border Post, Ms Ivy Simon, said the number of people who used the border post decreased on Tuesday morning.

A lot of people who crossed into both sides were from churches and came from both South Africa and Botswana, she said.

She noted that the extension of hours at the border post has eased congestion problems as a lot of people prefer to travel late during holidays.

She also observed that the travellers cooperated well with immigration officers and this made their job easier.

Ms Simon noted that there were no immigration offences recorded at the border post during this period.

Also she said the flow of people was unpredictable as volumes rose and fell at different intervals during [continue reading]

source: allAfrica
The Herald (Harare)

4 January 2008
Posted to the web 4 January 2008


THE National Incomes and Pricing Commission has allowed schools to provisionally increase fees by up to 600 percent while their individual applications are being considered.

Addressing a Press conference in Harare yesterday, NIPC chairman Mr Godwills Masimire-mbwa urged parents to ignore any invoices they might have received from schools as the fees on the invoices were not approved.

Provisions of Statutory Instrument 159A of 2007 outline measures that all non-Government schools must follow before revising school fees.

Mr Masimirembwa said information received by NIPC had shown that some trust and private schools had sent out [continue reading]

Posted Fri, 04 Jan 2008

French reinsurer Scor Group announced on Thursday that it had opened an office in Johannesburg, both to reinforce its ties with the South African insurance market and to create a platform for expansion in the English and Portuguese speaking markets on the continent.

The company said in a statement that it believed the South African insurance market would continue to expand and that it wished to “actively contribute to this expansion”.

Scor Global P&C chief executive officer Victor Peignet said the group aimed to enlarge its client base and solidify and diversify its regional portfolio in South Africa and countries such as Angola or Nigeria, with which it has long maintained relations, particularly through its activities in the oil and mining industries.

“It is our clear desire to be an important [continue reading]

source: News24
04/01/2008 09:39 – (SA)

Durban – Jacob Zuma’s homestead at Nkandla in KwaZulu-Natal is said to be bracing for another festivity with the new African National Congress president reportedly planning to marry Nompumelelo Ntuli – the mother of two of his children – on Saturday, the Mercury newspaper reported on Friday.

If the ceremony goes ahead, Ntuli would become Zuma’s fourth wife. Ntuli has recently been featured in media speculation that she could become the next first lady of the country, should Zuma become the president in 2009.

A family source who spoke to the Mercury acknowledged that a ceremony involving Ntuli would take place, but was cagey about the exact nature of the ceremony, labelling it [continue reading]

source: BOPA
04 January, 2008

GABORONE – Weight loss and owning a car seem to be intertwined as resolutions for the New Year, thanks to a proliferation of gym houses plus vehicle finance schemes.

Perhaps that is why buying myself a car and maintaining a healthy life were the top New Years resolutions during a random survey conducted in Gaborone on New Years day.

With a litany of personal loans and vehicle finance schemes from banks and micro lenders, owning a car is no longer a mirage for may Batswana.

The situation is also made easy by the influx of affordable second-hand cars from Asian countries such as Singapore, Japan and Korea.

I must be seen driving a car this year for sure, says Mr Thabo Kgosimore, a University graduate working for government.

Mr Kgosimore says initially he intended saving for an affordable vehicle so that he eventually buys it without a bank loan.

But because of the demand for cars, one can not keep up the pace because of [continue reading]

source: BOPA
04 January, 2008

FRANCISTOWN – Kgosi Robert Matenge of Matenge has appealed to his people who reside in towns to help develop their village as it is where they will return when they retire from work.

He said in a kgotla meeting to discuss issues about the development of the village that their stay in towns was short lived and that the village was where they would return to spend the rest of their lives.

Kgosi Matenge told them that they were the ones who could develop their village.

He also encouraged them to register for the coming general elections and vote in the village to indicate that the village had a large population, something that would bring it developments.

Former chairperson of the Village Development Committee(VDC), Mr Jobe Nyamadzombe informed the [continue reading]

source: Reuters
Thu 3 Jan 2008, 15:27 GMT

JOHANNESBURG (Reuters) – Botswana credit growth quickened to 27.8 percent year-on-year in November moving further away from the target, the central bank said on Thursday.

Strong demand from the business sector and households, which rose to 28 percent and 27.7 percent respectively, accounted for the increase.

Strong credit demand and rising inflationary pressures are a major concern for the bank, with consumer inflation at the top end of its 4 to 7 percent band.

The central bank left its bank rate unchanged at 14.5 percent in [continue reading]

source: Harald Tribune
By Jeffrey Gettleman
Published: January 3, 2008

NAIROBI: Nairobi degenerated into violence Thursday as the riot police used tear gas, batons and water cannons to push back thousands of opposition supporters who poured into the streets to answer a call for a million-person rally that had been banned by the government.

Later in the day, the Kenyan attorney general broke ranks with the president and insisted on an independent investigation into disputed election results, an indication of the growing divide within the government about how to solve a crisis that has ignited chaos and ethnic fighting throughout the country, killing more than 300 people.

Starting about 10 a.m., protesters burned tires, smashed windows and [continue reading]

source: allAfrica
Business Daily (Nairobi)

3 January 2008
Posted to the web 3 January 2008

Washington Gikunju

The Nairobi Stock Exchange closed prematurely against a backdrop of thin trading as most stock brokers and investors kept off the city centre fearing violence that loomed following the ban on an opposition rally.

A statement by the NSE compliance manager Andrew Wachira said trading would stop at 11.20am, one hour and 20 minutes after opening.

“Please note that the day’s trading activity at the Nairobi Stock Exchange has been discontinued as from 11.20am for the remainder of the day,” read the terse statement.

Chris Mwebesa, the NSE chief executive officer, told the Business Daily that the board had decided to stop trading upon realising that trading would be lean.

Only eight of the 18 licensed stock brokerage houses were open.

“Only about eight stock brokers were accessing our [continue reading]

Neville Maakana

3 January 2008

Construction of bed-and-breakfast facilities has begun in the rural hinterland of South Africa’s Limpopo province in preparation for expected visitors during the 2010 Fifa World Cup.

A R15-million European Union-funded project is under way in the Muhlava, Sekgopo and Thabina villages outside Tzaneen in the Mopani district municipality.

The site where these accommodation establishments are being constructed is about 30 minutes’ drive from Polokwane, a town which will host some World Cup matches.

The project is expected to be completed by December this year.

Project Manager Elvis Ntlwane said the project was one of the municipality’s local economic development projects, which seek to improve the [continue reading]

source: BBC News

China is sending 5,000 metric tons of food aid to Zimbabwe, official media reports, to help the African nation cope with dire food shortages.

China’s deputy ambassador to Zimbabwe made the announcement, adding that the two countries wanted to increase trade to $500m (£253m) in 2008.

More than 3m Zimbabweans, 25% of the population, depend on UN food aid.

An official crop assessment after last year’s harvest in May estimated the country had about a 1m ton shortfall.

The UN World Food Programme said last year that a poor harvest and the country’s worsening economic situation meant hundreds of thousands of Zimbabweans were running out of food.

It said the crisis was set to peak between [continue reading]

source: BBC News
Last Updated: Thursday, 3 January 2008, 16:10 GMT
There have been a number of lion attacks on farms and lodges
A South African man has been killed and eaten by lions at a game lodge where he worked 150km (90 miles) west of Johannesburg, police say.

Samuel Boosen, 36, was attacked after entering the enclosure on Tuesday where an estimated nine lions were kept.

“Only his spine and skull remained,” police spokesman Lesego Metsi told the South Africa Press Association.

The mauling to death of a nine-year-old boy by [continue reading]

source: SW Radio Africa

By Lance Guma
03 January 2008

South African based businessman Mutumwa Mawere has claimed the recent escape to the United Kingdom of Guruve North MP David Butau, exposes the plot by Reserve Bank Governor Gideon Gono to shift the blame for the current economic mess onto western countries. Mawere told our Behind the Headlines series that the victimisation of several high profile individuals, allegedly for foreign currency exchange violations, fits in neatly with a propaganda campaign to blame the cash shortages on western countries.

The government is extensively using the Butau case as part of its propaganda strategy. Mawere added: ‘The role of business in undermining the sovereignty of Zimbabwe is a subject that Gono has taken up as his main theatre of operation.’ More worryingly Mawere believes Gono has become a law unto himself and only reports to Robert Mugabe. Mawere said; ‘If anyone was in doubt of Gono’s powers, the Butau saga has removed any doubt that Gono is the law in Zimbabwe. If you are on his target list, you better [continue reading]

source: IOL
January 03 2008 at 08:51AM

The corruption trial of Jacob Zuma, leader of the ANC, was unlikely to take place any earlier than the already scheduled August starting date, his lawyer Michael Hulley said on Thursday.

The National Prosecuting Authority (NPA) said this week it was prepared to proceed with the case early if Zuma wished.

“I don’t think that there is any likelihood that it will be sooner than (August),” Hulley told 702 radio in an interview.

Zuma, who won the African National Congress leadership in a election contest last month against the incumbent, President Thabo Mbeki, has been charged with [continue reading]