Business upbeat over Eskom`s R60bn vote

source: Mmegi

WANETSHA MOSINYI
STAFF WRITER

Botswana’s business community has welcomed South Africa’s Finance Minister Trevor Manuel’s R60 billion state vote for Eskom’s R343 billion capital investments over the next five years.

Tebogo Rapitsenyane of BOCCIM says the move breathes confidence into the business community in Botswana as the country largely relies on Eskom for power supply. He was speaking to Business Week after watching Manuel’s presentation of South Africa’s R635 billion 2008/09 budget on television at that country’s High Commission in Gaborone on Wednesday.

However, BOCCIM’s PRO warned that Botswana should not relax but must continue to seek ways of generating its own power supply. “This assures us that at least Eskom will continue to supply us in accordance with what has been agreed,” he said, “but we must not relax because their budget shows that they have injected billions for the development of their economy, therefore their own demand for power is going to increase.”

The CEO of the Botswana Insurance Fund Management (Bifm), Victor Senye, welcomed the [continue reading]



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