Archive for January 21st, 2008

Gem buys Botswana project

source: Business Report
May 30, 2007

By From Reuters

Johannesburg – London-listed Gem Diamonds had bought a dormant project in Botswana from De Beers and Xstrata for $34 million (R242 million), the company said yesterday.

The project is located in the Central Kalahari Game Reserve, where Botswana’s high court ruled in December that hundreds of San people had been wrongly evicted and should be allowed to return.

Gem Diamonds said it hoped to build a mine as a result of buying Gope Exploration, which suspended rights to a kimberlite deposit in the centre of top diamond producer Botswana.

“The relatively high value of the diamonds is strategically attractive to Gem Diamonds,” it said, adding that a sample parcel of 3 400 carats had been valued at $121 a carat.

After updating an existing feasibility study, the firm said it would probably apply for a mining licence, hold talks about a government stake and consult with communities.

Pressure groups that helped the San file a lawsuit had accused the government of evicting people to allow diamond mining, but De Beers and the government denied this.

Gaborone said it wanted to [continue reading]

source: Mail & Gardian
Johannesburg, South Africa
07 September 2007 01:38

South African media company Sabido, the holding company of locally based television station, has acquired 49% of Gaborone Broadcasting Company (GBC), said in a statement on Friday.

Fifty-one percent of GBC was held by Mike Klinck, a Botswana banker, who acquired the station four years ago.

Klinck welcomed Sabido’s investment as a breakthrough for GBC, adding: “This is a fantastic development for the broadcasting industry in Botswana.”

When it launched 19 years ago, GBC was Botswana’s first television channel. It covered Gaborone and the surrounding areas, reaching a population of approximately 450 000. Its estimated active viewership was 160 000 and it broadcast a mix of sitcoms, dramas, sport and factual programming.

GBC had exclusive free-to-air rights for Botswana to the Uefa Champions League football tournament. [continue reading]

source: Mmegi

The deputy CEO of the National Development Bank (NDB) says the offering of school fees and home loans is still within its mandate as prescribed by the law establishing it.

Tshekiso Monyatsi was responding to queries in the public arena after the bank broke new ground by launching loans covering school fees and the purchasing of property.

In an interview with Business Week, Monyatsi said the development finance institution followed the right procedures before launching the new loan facilities.

He said the National Development Bank Act of 1963 also allows the bank to undertake project financing in property and education development.

“We are in that kind of business, and the launch of these two products was to cater for the development of human capital,” Monyatsi said. “We are playing by [continue reading]

source: Mmegi


When nothing is happening it is quite interesting, isn’t it? How long has Thabo Mbeki been ‘mediating’ between Robert Mugabe’s party, ZANU-PF, and the opposition Movement for Democratic Change in Zimbabwe?

I can’t say how much Mandela’s mediation achieved in Burundi but I still remain adamant that South Africans are the worst mediators in the world.

Mbeki and Desmond Tutu are my witnesses because, on this issue, their failures speak volumes.

In Zimbabwe, dictator Robert Mugabe is not giving away anything due to Mbeki’s partiality, with negotiations even currently having been put on hold because Mugabe’s chief negotiator is on leave. Is this an important and urgent issue or is it an important and urgent issue?

Mbeki, Mugabe’s chief apologist, offers nothing of substance to Zimbabweans. He disguises his failure and ineptitude as ‘quiet’ or ‘silent diplomacy.’

How long has it been since SADC tasked Mbeki with this mediation that came on top of his barren, long-running quiet diplomacy?

It is such quiet diplomacy that [continue reading]

source: News24
20/01/2008 10:05 – (SA)

Johannesburg – The ANC has laid down the law to President Thabo Mbeki following two days of discussions between its National Executive Committee (NEC) and the cabinet, the Sunday Times reported.

Behind the scenes, the ANC was moving to get Mbeki to appoint party deputy president Kgalema Motlanthe as a second deputy president in government, the newspaper said.

“The move would give the ANC direct access to state power and ease differences between the government and ruling party.”

At the NEC lekgotla, the first attended by Mbeki since he and most of his ministers were removed from the leadership of the ANC in December last year, it was made clear to him that he must regularly attend NEC meetings to account for how the government is implementing ANC policy, the Sunday Times said.

“If he is failing to honour that obligation, we have no choice but to dismiss him,” one NEC member reportedly said.

The NEC was also planning to deploy cabinet ministers to 20 ANC subcommittees dealing with various policies, the newspaper reported.

It was also made clear to SA’s president that the investigations unit of the National Prosecuting Authority, the Scorpions, must be incorporated into the police by June.

‘The presidency is very important…’

It was also put to Mbeki that the court system must be restructured before he leaves office. One of the [continue reading]

source: Mmegi


The annual inflation rate for December rose to 8.1 percent from 7.7 percent in November, further ballooning out of the Bank of Botswana’s (BoB) inflation objective of between 4 percent and 7 percent for 2007.

In its mid-term monetary policy review last year, the BoB said although the forecast for trading partner countries inflation of 4 to 6 percent suggested that the Bank should lower the upper end of the range, it is considered more realistic to maintain the inflation objective of 4 to 7 percent for the remainder of the year.

According to figures released by the Central Statistics Office, the national Consumer Price Index (CPI) stood at 108.8 percent for December from 108.2 percent in November. The transport index recorded a 2 percentage point rise on the back of the fuel price increases effected late last year, while the furniture and household equipment indices slowed down by 0.6 percentage points to 105.3 percent.

The 0.4 percentage point increase in the December inflation to 8.1 percent, which was for the third successive month, means that the general prices of goods, commodities and services rose by an average of 8.1 percent between December 2006 and December 2007.

The widening gap between the inflation rate and the upper limit of [continue reading]

Vanguard (Lagos)
source: allAfrica
19 January 2008
Posted to the web 19 January 2008

Richard Animam

The 26th Africa Cup of Nations is not short of big names- but it could have been even more star-studded.For every Didier Drogba or Samuel Eto’o strutting his stuff in Ghana, there is another player from Africa not on show.

Quite apart from the countries which failed to qualify, there are many great players from Africa who opted to play for a European country instead.

In fact, several legends of world football were born in Africa, only to go onto play for their adopted home.

France midfielder Patrick Vieira grew up in Senegal, and admitted his heart was divided when he took on the Teranga Lions at the 2002 World Cup playing for Les Bleus.

Vieira’s companion in the centre of midfield, Claude Makelele, is a similar case.

Born in Kinshasa, Makelele left the DR Congo for France at a young age.

Both men played a major part in France winning the 1998 World Cup and the 2000 European Cup, not to mention helping their domestic sides to countless trophies.

Another man who will be conflicted at the moment is German international Gerald Asamoah. Asamoah is of Ghanaian origin, and had the option to play for the Black Stars. By choosing to play for Germany he instead finished third in the 2006 World Cup, and played in the 2002 final in Yokohama, Japan.

Perhaps the attacking player does not [continue reading]

source: IOL
January 20 2008 at 11:10AM

Eskom has been forced to slash power supplies to neighbouring countries in a desperate bid to meet local demand, Business Report said on Sunday.

The beleaguered utility, which generates 95 percent of its electricity for local use, exports surplus power to Botswana, Namibia and Zimbabwe – countries which will now no longer be fed from SA’s troubled grid, the report said.

Speaking to Business Times on Friday, Eskom’s chief executive Jacob Maroga said export power was reduced whenever SA faced a shortage – but added that local consumers needed to save as much as 20 percent of consumption to ease the problem.

Lesotho, Mozambique and Swaziland, which are also supplied by the parastatal, face partial cuts in their supply as the [continue reading]