Archive for February 6th, 2008

source: BOPA
06 February, 2008

PALAPYE – The BDP central committee has ordered a re-run of the Palapye constituency parliamentary primary by-election.

Executive secretary of the party, Dr Comma Serema, said the re-run will take place on February 16. He said the partys Secretary General, Mr Jacob Nkate, and two central committee members, Mr Isaac Seloko and Mrs Pelonomi Venson-Motoi, will officially inform the Palapye branch about the grounds of the re-run over the weekend.

The decision follows complaints of irregularities by one of the candidates in the initial by-election, Prof. Sheila Tlou who is also a health minister.

She lost to Mr Master Goya, a Standard Chartered Bank manager, by six votes in the initial by-election held on Dec. 22, 2007.

The other contestants were former Central District Council revenue collector, Mr Isaac Maforaga and former Institute of Health Sciences principal, Mrs Ogonne Mogano.

A team led by Deputy BDP Secretary General, Mr Kentse Rammidi, was dispatched to Palapye to investigate Prof. Tlous complaints.

It interviewed all [continue reading]

source: BOPA
06 February, 2008

GABORONE -Unannounced power cuts throughout the country will certainly stifle economic growth over the next financial year, economic experts have said.

Due to increasing demand of power, most consumers have had to buy fuel-operated generators as contingency measures for the ailing power system.

But just this week diesel and petrol prices were hiked while demand for generators has also gone up, Dr Keith Jefferis of E-Consult noted at a budget speech review breakfast seminar.

His main worry was that the ongoing expansion of Morupule Power Plant will only yield results around 2011 while other factors continue to negate such envisaged prospects.

Among other negativities mentioned was the reduction in power supply from South African based Eskom plus the annual contracts signed with suppliers from Mozambique.

While we are uncertain about supplies from Mozambique on whether we will keep renewing yearly contracts, we also face stiff competition from South Africa for the same electricity from Mozambique, regretted Dr Jefferis.

To add salt to injury, he said was the fact that the Mozambique route goes through Zimbabwe, which presently is almost impassable.

Another specialist at the First National Bank sponsored event added that [continue reading]

source: BOPA
06 February, 2008

RAMOTSWA South East District participants at a local leadership workshop for local democracy have advocated for a change to the electoral process They said the Independent Electoral Commission (IEC) should be given powers and freedom to run the election process without interference from the office of the President.

Participants said the IEC should be genuinely independent and set the date for the election instead of the President, noting that would encourage free and fair election.

It is not fair for the President to set the election date because that gives him a chance to communicate with his cabinet and party colleagues to advance their preparations, said one of the participants.

They also called for party funding, adding that laws need to be reviewed so that party funding could be considered.

One of the participants, Mr Itumeleng Fight said funding was a constitutional right. Some participants complained about insufficient education among election offices and the public at large.

They also recommended that counting of ballot papers be done at polling stations, as there was [continue reading]

source: Mmegi

The Ministry of Minerals, Energy and Water Resources yesterday announced yet another increases of the retail pump prices for petrol, diesel and illuminating paraffin.

The new prices became effective at 1 o’clock this morning. The price adjustment is as follows:

* Both unleaded and lead replacement petrol increased by 25 thebe per litre.
* Diesel increased by 50 thebe per litre.
* Illuminating paraffin increased by 50 thebe per litre.

The statement from the ministry noted that [continue reading]

source: allAfrica
The Voice (Francistown)

5 February 2008
Posted to the web 5 February 2008

Francistown

While some businesses are making a killing in the crisis caused by regular power cuts, others are making huge losses. The regular power black out in Gaborone and other towns and villages in the country has resulted in many business halting operations for hours on end, as many were unprepared for the crisis.

Small businesses, with no back-up systems such as power generators, have been hit hard. One such business is Kgale Engen Filling Station, located at the busy Kgale shopping Mall, near Game City in Gaborone.

Since December last year, this Filling station has had 26 hours of black out. This equals some P97, 066 losses in petrol sales alone, excluding losses in the Quick shop and for other products such as paraffin and motor lubricants.

The Filling station had the longest black out last week Monday, 21 January, which lasted from two in the afternoon to seven in the evening. Though they are still to [continue reading]

source: SW Radio Africa

By Lance Guma
05 February 2008

Former finance minister Simba Makoni has made a spectacular u-turn by announcing he will contest the presidential elections in 52 days time. This is despite him holding a private meeting with Mugabe at state house two weeks ago at which his grievances with the party were said to have been resolved. All that seems to have been cast aside after Makoni was barred from challenging Justice Minister Patrick Chinamasa in Zanu PF primary elections for the newly created, Makoni constituency. Makoni, who is a member of the influential Zanu PF politburo, said his decision followed ‘extensive and intensive consultations with party members and activists countrywide.’ He said he shared, ‘the agony and anguish of all citizens,’ who have had to endure extreme hardships for nearly 10 years.

On Tuesday Newsreel spoke to Makoni who said he still hopes to be an official Zanu PF candidate. However he said he doubts he will be accepted, given the way he had announced his candidature. Pressed on whether he will lead a political party to challenge for the parliamentary seats, Makoni said all he was interested in at the moment was the presidency. He said the team working behind him will put together another press conference some time next week at which they will articulate their policies and what they have to offer the people of Zimbabwe.

The last minute challenge from the former finance minister has attracted both suspicion and optimism. Some analysts believe he has no hope of [continue reading]

source: Mmegi

STAFF WRITERS

Public servants who have been waiting with bated breath for the announcement of the 2008/09 budget hoping for a salary increment will have to wait a little longer to put a few extra Pula in their pockets. Announcing the national budget proposals yesterday, Minister of Finance and Development Planning, Baledzi Gaolathe, said that a decision on the civil servants’ salaries will be announced-

at a later date because government was still ‘actively considering the recommendations of the Salaries Review Commissions’.

Last year, President Mogae appointed two salaries review commissions, one for the public service and another for the political leadership and members of Ntlo ya Dikgosi.

In the budget proposals for the financial year 2008/09, the minister said salary increments had not been factored into recurrent expenditure for 2008/9.

Gaolathe said given the external and internal economic conditions and the need to scale up [continue reading]

source: Mmegi

WANETSHA MOSINYI
STAFF WRITER

Botswana has raised a loan with the Arab Bank for Economic Development in Africa (BADEA) for the upgrading and expansion of the terminal building at Sir Seretse Khama International Airport.

The capital amount of the loan is US$10 million, or approximately P62 million. This is in addition to funding amounting to US$20, 590,000, approximately P1,125,702 076, already received from the OPEC Fund for International Development. The balance, which amounts to P166 223 005, will be raised from domestic sources. A statement released by Serwalo Tumelo, Permanent Secretary at the Ministry of Finance and Development Planning, says the Botswana High Commissioner to Kenya, Charles Mogotsi, and the Chairman of BADEA, Ahmed Al-Akeil, signed the agreement on January 24 in Khartoum, Sudan. The project comprises the upgrading and expansion of the terminal building, provision of equipment, extension of the runway and the provision of a parallel taxiway at SSKIA.

The total cost of the project is estimated at P526, 883,100.Once it is completed, Botswana’s sole international airport will accommodate wide-bodied aircraft. Construction is expected to [continue reading]

source: allAfrica
Business Daily (Nairobi)

5 February 2008
Posted to the web 5 February 2008

Morris Aron

African stock exchanges may be in for a rough time this year due to political uncertainties, analysts warn.

The bourses made impressive returns last year on the back of relative immunity from shocks that hit equities in developed markets.

With rising oil prices set to increase production costs, projections for most economies have been revised downwards, pointing to drains on disposable income and reduced profit margins for listed companies.

A report by Nex Rubica – a Pan African investment and risk services provider – said oil price shocks and instability in key markets like Kenya could see significant drop in the value of most indices.

“With the recent oil increase to $100 a barrel and the electoral turmoil in Kenya we envisage a slow down in the NXR top 40 and Mid 45 Indices,” the report said Mid 45 and NXR top 40 are indices used to gauge the level of trading activity among Africa biggest equity markets, measured by market capitalization.

Last year price-earnings (PE) ratios, a measure of the attractiveness of a particular security or trust listed on the [continue reading]

source: Mmegi

The International Monetary Fund cut its 2008 forecast for world growth on Tuesday, warning the global economy will deliver the weakest performance in five years as US-originated financial strains intensify.

The IMF said no country will entirely escape the fallout from a crisis in the US sub-prime mortgage market, where loans made to less creditworthy borrowers were packed into securities by Wall Street firms and sold around the world.Defaults are soaring on the loans and no one has a firm estimate on eventual losses. Banks are continuing to write down billions of dollars in projected losses, raising fears they will be reluctant to lend, which would further crimp economic expansion.”It is a significant slowdown. It is a global slowdown, without any question,” IMF chief economist Simon Johnson told a media briefing. He would not say the US would tip into a recession, but the IMF made plain that it was braced for more bad news.”The overall balance of risks to the global growth outlook is still tilted to the downside,” the IMF said in an update to its semi-annual World Economic Outlook released in October.The IMF lowered its global 2008 growth projection to 4.1 percent from 4.4 percent.

This would be the weakest performance since 2003, when world growth notched 3.6 percent, and reflects a marked slowdown from [continue reading]