Archive for March 18th, 2008

source: BOPA
17 March, 2008

GABORONE – The Botswana Democratic Party (BDP) caused a political scare on Saturday, ahead of next years general elections by winning the days parliamentary and council wards by-elections held in the Central, Kgalagadi, North West and Gaborone.

Parliamentary by-elections were held at Palapye and Kgalagadi North due to the resignation of Mr Boyce Sebetela and Mr Obakeng Moumakwa of Palapye and Kgalagadi North respectively.

Council wards by-elections came about as a result of deaths in those wards at Marulamantsi, Mokwena and Bodibeng/Bothatogo in the Gaborone West South, Serowe South and Ngami constituencies.

Another parliamentary by-election is immenent in the Serowe North West where Vice President Ian Khama is about to resign as he becomes the countrys president.It will come before independence celebrations.

Interestingly, the weekends by-elections were held on the Ides of March, an important day in the Roman calendar. This is the day when Roman Emperor, Julius Ceasar was assassinated after defying a warning from his wife, Calipurnia, to stay home on that day because of a terrible dream she had had the previous night.

Throughout the campaigns, the BDP sent signals that they wanted to crash oppositions in the by-elections.

Perhaps like Ceasar, opposition parties beleived that [continue reading]

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source: BOPA
17 March, 2008

GABORONE – Business studies should instill a sense of entrepreneurship in the minds of those studying it, Assistant Minister of Education, Mr Peter Siele has said.

He was speaking at NIIT graduation ceremony in Gaborone on Friday. He said the graduants must learn that acquisition of tertiary education is not meant to prepare them for employment by another person or corporate or civil service. He added, that graduants must aspire to start their own business ventures.

Business studies should therefore instill a sense of entrepreneurship in the minds of the graduates. It should arouse the business man spirit that lies untapped in them and reaffirm in them their conscious resolve to control a portion of the business climate of this country, he said.

He commended NIIT for their contribution towards provision of Information Communication Technology (ICT) training.

Mr Peter Siele commended the NIIT for providing ICT training at a time when the country had to [continue reading]

source: Mmegi

BY FRASER MPOFU
CORRESPONDENT

HARARE: Gaborone-based African Banking Corporation (ABC) Holdings has posted an impressive performance with attributable profits rising by 44 percent to P123.5 million last year.

Group chairman, Oliver Chidawu said in a statement accompanying ABC Holdings’ results for the year ended December 31, 2007, that the massive profit growth was a result of a strong performance by all the financial institution’s subsidiaries, save for ABC Zambia.

“With the exception of ABC Zambia, all group subsidiaries recorded profiles in 2007,” said Chidawu.

The subsidiaries outside Zimbabwe contributed P32.4 million to attributable profit, a 46 percent increase on the P22.2 million recorded in 2006. It should be noted that this was achieved in spite of the P13 million negative cost of carry on the P250 million debt raised at the end of 2006.”

ABC Zambia had a difficult year because of [continue reading]

source: SW Radio Africa

By Lance Guma
17 March 2008

Britain’s policy on Zimbabwe is under the spotlight following revelations that the government has begun moves to deport thousands of failed Zimbabwean asylum seekers. Last year a British judge ruled that not all asylum seekers face persecution if deported back home, and now the Border and Immigration Agency is reported to have sent out letters to around 500 failed asylum seekers, mainly living in the North West of the country. The letters urge them to return voluntarily to Zimbabwe or face expulsion. The agency says it expects to be able to enforce the deportation of failed asylum seekers who have exhausted their rights of appeal ‘and have no other basis of stay in the UK.’

The decision immediately drew a chorus of criticism from refugee groups and activists who argued it was a contradiction from the British government who at the same time condemn human rights abuses in Zimbabwe. Speaking to Newsreel Sarah Harland from the Zimbabwe Association said some of the people receiving the deportation letters have still not exhausted their appeals while others now fell into new ‘risk’ categories recently acknowledged by courts. The UK courts recently accepted that [continue reading]

source: Mmegi

BY BAME PIET
STAFF WRITER

First it was the Botswana Democratic Party (BDP) backbenchers who voiced their concerns on the government’s silent diplomacy on President Robert Mugabe of Zimbabwe.

On Tuesday, perhaps after suppressing the feelings for quite some time, the Minister of Sports, Youth and Culture, Major General Moeng Pheto, broke the silence and spoke loudly against Mugabe. He told the House that Zimbabwe was a stumbling block to regional development and urged the Botswana government to do more to help resolve the political and economic problems in the country.

Pheto was contributing to the debate on the budget for the Ministry of Foreign Affairs. The Foreign Affairs Minister Mompati Merafhe responded that there is nothing much that Botswana can do on Zimbabwe apart from approaching the matter in a friendly way.

Sources say Pheto is not the only minister who is unhappy with the government’s handling of the Zimbabwe issue. “There are many ministers who [continue reading]

source: Mmegi

BY WANETSHA MOSINYI
STAFF WRITER

Botswana Stock Exchange (BSE) is to introduce Exchange Traded Funds (ETFs) to improve liquidity and tradability in the capital market.

ETFs are index tracking funds secured by a basket of securities listed on an exchange by among others banks or fund managers. This is meant to allow investors to buy or sell securities consisting of the collective basket of shares or index as a single unit.

On Thursday, BSE in collaboration with Bifm briefed the media at its premises about the upcoming inaugural conference it will host to deliberate on ETFs. Although the BSE market capitalisation is comparatively high, liquidity is extremely low.

One of the reasons for the imbalance has been identified as lack of instruments to draw out liquidity in the market.

“It is one of the strategies that BSE has identified to encourage structuring and listing of [continue reading]

source: BOPA
14 March, 2008

SELEBI PHIKWE – The P1.2 billion Dikgatlhong Dam project is an important project for the North-South Water Diversion Scheme, which will boost the economy, better the water supply conditions and create valuable benefit to Batswana Speaking during a Chinese traditional ceremony at the dam site to kick start the project Sinohydro Corporation project manager Mr Zhang Xiaoting said communication and cooperation were very important for the project to be successful.

Mr Xiaoting said friendly behaviour from Batswana gave them confidence that they would be able to finish the project .

We will as such, organise talented and qualified personnel, mobilise to the site advanced equipment and machinery and allocate sufficient resources to the project.

I believe with great efforts from every party and the support of the local government and the people, we will definitely complete the project of high standard and fine quality, and bring more benefits to Batswana, he said Dikgatlhong Dam will be the largest dam in Botswana with a capacity of 400 million cubic meters and an annual yield of 62 million cubic meters.

The dam is being built on the confluence of [continue reading]