Archive for February 20th, 2008

source: Mmegi

RYDER GABATHUSE
STAFF WRITER

PALAPYE: After winning the Botswana Democratic Party (BDP) ticket over the weekend, Moiseraele ‘Master’ Goya faces Botswana Congress Party’s (BCP) James Olesitse in what promises to be the real battle for Palapye.

With a by-election billed for March 15, politicians are expected to literally camp in town in their endeavours to make an impact in the area. After launching Olesitse last Sunday, BCP teams led by the campaign manager, Moncho Moncho have camped in town and are hoping to make an impact in an area that historically has been a BDP stronghold.
The question asked is whether Palapye would slip from the grip of the ruling BDP, or will the party win it again?

Since independence, the BDP has held sway in the area that has become more important than before. There are all signs that Palapye is on its transformation into an industrial town with the construction of the Botswana International University of Science and Technology (BIUST) soon.

The expansion of the [continue reading]

source: Mmegi

SIKI MOTSHWARI JOHANNES

PALAPYE: As many roads led to church, this Sunday 17th February 2008, the tripartite alliance of Botswana Congress Party, Botswana Alliance Movement and National Democratic Front had an important political assignment to perform.

This was the ‘unveiling’ of James Mpho Olesitse as the parliamentary candidate for Palapye. The stakes are high. The Botswana Congress Party (BDP), for the first time, fancies its chances in Palapye. The party’s hopes have been kept up by the BDP schism occasioned by its bitterly contested primary elections.

By 9am the motorcade began as a dress rehearsal to this rally.

For four hours, the ‘Mogobagoba’, as the party is affectionately known, traversed the length and breath of Palapye parading its green colours.

Although the motorcade did not attract as many vehicles as [continue reading]

source: allAfrica
Business Daily (Nairobi)

19 February 2008
Posted to the web 19 February 2008

Allan Odhiambo

Trade ministers from Comesa have passed a resolution setting the stage for the establishment of what would be Africa’s largest common market.

The ministers want trade regimes within the Common Market of Eastern and Southern Africa (Comesa), the Southern African Development Community (SADC) and the East African Community (EAC) harmonised.

“Specifically the harmonisation will be with respect to the Common External Tariff (CET) and related trade policy areas as well as overlapping membership,” a joint communique issued at the end of the third special task force meeting on the Customs Union, in Lusaka, Zambia, read in part.

Kenya was represented by Trade permanent secretary David Nalo.

The endorsement by the Comesa ministers comes in the wake of a similar proposal by trade technocrats from the EAC who two weeks ago at a meeting in Arusha, called for the formation of a grand Free Trade Area (FTA) comprising of the Comesa, SADC and EAC, as the best solution to the differences that have arisen among their member states in the recent past.

The differences have deepened recently with indications that [continue reading]

source: SouthAfrica.Info
Gabi Khumalo

19 February 2008

The Department of Trade and Industry and local financial services group Old Mutual have launched the Isivande Women’s Fund, with the aim of accelerating the economic empowerment of women by providing more affordable, usable and responsive financial solutions.

The fund targets black women at the bottom of the economic ladder, in micro enterprises and female entrepreneurs who are currently running their own enterprises. The fund will specialise in debt financing by offering loans from R30 000 to R2-million per transaction to small and medium enterprises.

Qualifying companies are required to be 60% female-owned and have at least a two-year track record of business activity and a sustainable business plan.

Speaking at the launch on Monday, Trade and Industry Minister Mandisi Mpahlwa said that [continue reading]

soure: Mmegi

BRIAN BENZA
STAFF WRITER

Largely driven by ever rising food prices, the annual inflation rate for the month of January shot up to 8.4 percent, up by 0.3 percentage points from 8.1 percent in December 2007.

According to a statement from the Central Statistics Office (CSO), the food and non-alcoholic beverages index rose by 3.3 percent, while the clothing and footwear index recorded the second highest increase of 1.1 percent.

The 0.3 percentage point increase in January, which was for the fourth successive month, means that general prices of goods, commodities and services rose by an average of 8.4 percent between January 2007 and January 2008.

With further food price increases anticipated on the international market due to food shortages and oil price increases, the Bank of Botswana will be expected to adopt a wider inflation objective for 2008 when it announces its monetary policy statement next Monday.

In 2007, the central bank failed to achieve its 4 – 7 percent inflation objective as the inflation rate ended the year at 8.1 percent.

The CSO reported that inflation for towns and cities rose by 0.5 of a percentage point from 7.7 percent in December 2007 to 8.2 percent in January 2008.”The urban villages’ inflation rate increased from [continue reading]

source: Reuters
Tue 19 Feb 2008, 15:27 GMT

JOHANNESBURG (Reuters) – Botswana’s inflation rate rose to 8.4 percent year-on-year in January from 8.1 percent in December due largely to higher food prices, the central bank said on Tuesday.

Botswana imports food from neighbouring South Africa, where food inflation ticked up to 13.5 percent year-on-year in December and is seen trending higher.

“Food makes up 21.8 percent of the CPI basket,” the Bank of Botswana said in a statement on its website.

Botswana’s central bank left its [continue reading]

source: Mmegi

WANETSHA MOSINYI
STAFF WRITER

South Africa’s investment industry recently crowned Stanbic Investments’ parent company Stalib as that country’s top investment manager at a gala dinner in Cape Town.

As South Africa’s top unit trust wealth creator, Stanlib was crowned with the Raging Bull Award as the country’s top unit trust wealth creator.The Johannesburg-based asset manager has R77.5 billion unit trusts in assets under its management.The Raging Bull Award is given to the best domestic unit trust management company. The Raging Bulls are to South Africa’s asset management sector what the Oscars are to Hollywood.
Stanlib’s also won additional Raging Bull awards in nine different investment categories.Commenting on the award, Botswana’s Stanbic Investment Development Manager, Thabo Moipolai, said because they get technical support from Stanlib, it basically means that they get support from one of the finest asset managers in the industry.

“It also makes us proud to have a shareholder who does well in [continue reading]

source: Mining Weekly

By: Matthew Hill
Published: 19 Feb 08 – 10:15
ASX- and JSE-listed diamond junior Tawana Resources has signed an agreement with Botswana-domiciled Nowak Investments, which gave the firm the right to earn a 51% stake in its Oropa project by conducting and funding exploration work there.

Under the accord, Nowak would review results from the exploration that Tawana had already done, and, with Tawana, select kimberlites for a mini-bulk sampling, the Australia-based company said in a statement posted to its website.

Nowak would then remove at least 100 t of kimberlite if the pipes were less than one [continue reading]