Archive for January 11th, 2008

Report warns of tough times

source: BOPA
11 January, 2008

GABORONE – The World Economic Forum report on Global Risks 2008 highlights the need for new thinking and concerted action on a number of problems.

The report expresses fears that the current liquidity crunch will spark a United States recession in the next 12 months and calls for new thinking on systematic financial risk in response to the revolution in financial markets over the last two decades.

Global Risks 2008 warns that food security will become an increasingly complex political and economic problem over the next few years, with issues of equity and trade offs between security and other issues making the drawing of global policy both difficult and necessary.

The report is published in cooperation with Citigroup, Marsh & McLennan Companies, Swiss Re, and the Wharton School Risk Center and Zurich Financial Services.

It highlights key areas of risk that will be a focus of discussions by business leaders and public policy-makers at the World Economic Forum Annual meeting in Davos later this month.

On food security, the report says in 2007, prices for many [continue reading]

source: allAfrica
Business Day (Johannesburg)

11 January 2008
Posted to the web 11 January 2008

Linda Ensor
Cape Town

Finance Minister Trevor Manuel yesterday dismissed concerns about the possible future direction of fiscal policy post-Polokwane as so much “hype”.

The election of Jacob Zuma as president of the African National Congress (ANC), and his supporters to top leadership positions at the party’s national conference in Polokwane last month, has raised fears of fiscal policy becoming more expansionary, which would contribute to higher inflation.

But Manuel said such concerns were misplaced.

Asked at a news conference whether he personally had any concerns in this regard, Manuel said firmly: “No. No, I don’t have any concerns.

“Somehow there is a lot of hype,” Manuel told journalists at the [continue reading]

source: BOPA
10 January, 2008

PALAPYE – People who have relatives buried on the land ear-marked for the second university have agreed to suggestions that the graves be exhumed and the remains buried elsewhere.

In fact, they proposed that the remains be reburied in Palapye. However, coordinator of the second university project, Mrs Badumetse Hubona told them in a meeting on Tuesday that the issue is sensitive and that the reburial site will be decided after consultations with residents of Lecheng.

More than 16 graves have been found at Setase farms near Palapye, where the proposed second university will be build.

Mrs Hubona told representatives of former residents of Setase farms that initially they found one tomb which they thought of preserving, but later found others.

This, therefore, requires that the remains of those buried there be exhumed and reburied. Mrs Hubona pointed out the issue is delicate and [continue reading]

source: Mmegi

RYDER GABATHUSE
STAFF WRITER

FRANCISTOWN: The Botswana Congress Party (BCP) this weekend joins the race for Palapye as two politicians slug it out for the party ticket ahead of the coming by-election.

James Olesitse and Comfort Molosiwa will face each other in what promises to be a thriller. The two met in a general election contest before under different parties.

The first time they faced each other was in a general election in 1999 in which Molosiwa stood under the newly formed Botswana Alliance Movement (BAM) whilst Olesitse used the BCP ticket.

They both go into the primaries with three each of [continue reading]

source: SouthAfrica.info
Michael Appel

10 January 2008

South Africa and China, who are celebrating 10 years of diplomatic relations, are to strengthen these further through the establishment of a strategic dialogue mechanism.

This follows talks between Foreign Minister Nkosazana Dlamini-Zuma and her Chinese counterpart, Foreign Minister Yang Jiechi, in Pretoria on Monday.

The strategic dialogue mechanism will focus on boosting cooperation and support between South Africa and China in the economic, trade and political spheres.

Dlamini-Zuma said she and Yang were working together to see the establishment of a programme which would assist South Africa in adding value to products for export.

She added that it was the [continue reading]

source: Mmegi

BAME PIET
STAFF WRITER

A huge cargo plane landed at Sir Seretse Khama International Airport in Gaborone yesterday to deliver three live camels from Libya.

The three animals were among others to be delivered in Lesotho, Mozambique, Madagascar and Sudan.

The Trans Attico Cargo plane – IL 76TD – the largest to land at Sir Seretse Khama International Airport, arrived at 5pm. It had already delivered its camel cargo in Zambia and Zimbabwe.

The animals that were delivered in Botswana are a present to President Festus Mogae from the Libyan leader, Colonel Muammar Gaddafi. The Libyan ambassador to Botswana, Assed Almutaa and his [continue reading]

source: allAfrica
Agencia de Informacao de Mocambique (Maputo)

10 January 2008
Posted to the web 10 January 2008

Maputo

Mozambique’s Cahora Bassa dam has interrupted supplies of electricity to the Zimbabwean power facility, ZESA, for non-payment of bills.

A senior source in the dam operating company, Hidroelectrrica de Cahora Bassa (HCB) told AIM on Thursday that resumption of the power supply to Zimbabwe is dependent on ZESA paying in full a debt of 10 million US dollars.

HCB gave ZESA a serious warning of its intent when, in mid-December, it reduced supplies to Zimbabwe from 150 to 75 megawatts. ZESA still did not pay the debt, and so, on 28 December, the flow of all HCB power to Zimbabwe was interrupted.

AIM’s source added that, [continue reading]

Big fish swim in banks

source: Mmegi

GIDEON NKALA
STAFF WRITER

Just on the heels of corruption charges that have been slapped on former Debswana employees, there is yet another multi-million high profile case in the offing. This time it is the commercial banks that are said to be reeling from sophisticated fraud that has left them poorer by many millions of pula. The suspects are not just petty thieves but respected elders and men believed to be some of the country’s richest businessmen.

The grafters at the Directorate on Corruption and Economic Crime (DCEC) are said to be wrapping their investigations around a huge case of graft.

There is a belief that the suspected plunderers burnt a heavy black hole of up to several tens of millions of pula in the coffers of [continue reading]

source: IOL
Sipokazi Maposa
January 10 2008 at 02:56PM

With the 2010 World Cup fast approaching, city and provincial authorities have until April to begin most of the transport projects planned for the global sporting showpiece.

At least four huge road projects in the city are to see the government pumping millions into upgrades, due to begin between now and April.

These include the widening of Cape Town’s most congested intersection, the Koeberg Interchange, work on which is to begin before April.

The upgrade of the notorious Hospital Bend is to begin before the end of January. Reconstruction of a section of Main Road from Muizenberg to Fish Hoek is to begin in February, as is that of Granger Bay Boulevard.

Projects to accommodate non-motorised transport, such as [continue reading]

source: Mmegi

THATO CHWAANE
STAFF WRITER

There were at least six malaria deaths and 16, 495 malaria cases in Botswana in 2007. According to Ministry of Health, this is compared to the 2006, where there were 42 deaths and 19, 938 malaria cases.

Malaria continues to be endemic in five areas of Botswana; the Okavango, Ngami, Chobe, Tutume and Boteti. However, it has not reached epidemic levels.

The ministry continues to issue warnings for people to take action and take anti-malarial medicines two weeks before taking the journey to the malaria areas; to continue taking it four weeks after leaving the area. They say people should seek medical advice before travelling to malaria-affected destinations.

The World Health Organisation (WHO) has said malaria transmission levels from November 2007 to May 2008 are expected to be [continue reading]

source: IOL
January 11 2008 at 12:05AM

By Paul Simao

The influential youth league of South Africa’s ruling party on Thursday demanded a review of the committee organising the 2010 soccer World Cup, describing its members as elitist and out of touch.

South African tycoon Irvin Khoza and a number of cabinet ministers and aides who are close to South Africa’s President Thabo Mbeki are on the local organising committee (LOC) for the prestigious tournament.

“The current committee is composed of people, including government ministers, who want to build their own legacy and use this event as a vehicle to create personal wealth,” the African National Congress Youth League (ANCYL) said in a statement.

The Youth League has gained more [continue reading]