Archive for May 25th, 2008

source: BOPA
23 May, 2008

GABORONE – It is important to change mindset as the country gears towards economic diversification and sustainable growth, the Business and Economic Advisory Council (BEAC) states in its recent report.

Calling for the country to re-invent itself and adopt new macro and micro economic policies, the report says stifling democracy, culture of entitlement, rising corruption, poor work ethics, reserved or negative attitudes towards foreigners are some of the barriers to economic diversification and growth.

Botswanas mindset has not encouraged private sector development, FDI (Foreign Direct Investment) and hence diversification, says the report.

Since the discovery of diamonds, Botswana has lived in a comfort zone, focusing more on wealth distribution rather than wealth creation, and the country being referred as a relatively low-income country with a high-income lifestyle.

The report says the prevailing mindset related most explicitly to Botswanas citizen empowerment policies.

It also affects, in a very pronounced fashion, on the way the nation sees itself relative to [continue reading]

source: SW Radio Africa
By Tererai Karimakwenda
May 24, 2008-05-24

MDC President Morgan Tsvangirai is back in Zimbabwe where he is due to start campaigning for the presidential run-off election that is scheduled for June 27. The MDC leader has been away for some weeks, and he delayed his return last week after saying their intelligence unit had uncovered information about an assassination plot. More than 30 MDC party supporters and officials have been murdered by ruling party youths, so-called war veterans and armed soldiers since the March 29 elections.

Pedzisai Ruhanya from the Crisis Coalition Zimbabwe confirmed that Tsvangirai had arrived in Harare. He said the MDC leader immediately went to the Avenues Clinic to visit victims of state sponsored violence. Ruhanya said Tsvangirai was shocked by the klevel of brutality that he saw. Many hospitals around the country are full of people with broken [continue reading]

source: BOPA
23 May, 2008

GABORONE – The Business Economic Advisory Council (BEAC) Strategy Action Plan calls for radical changes in the way government and private sector do business.

Already a number of committees and appointments in government have been made at the recommendation of BEAC strategy plan, among them the setting of an Economic Strategy Committee chaired by the vice president.

According to the BEAC report, the plan calls for establishment of an enabling environment for economic diversification, specifically one conducive for Foreign Direct Investment (FDI) and changing the culture of entitlement by adding citizen empowerment through excellence.

Under Citizen Empowerment Through Excellence, action needed is to creates an achievement culture in society, accept a meritocracy, pursue excellence, internationally benchmark to emphasize quality education and match output with future economic needs.

A former US president, the late John F. Kennyedy, once said: Ask not what you country can do for you — ask what you can do for your country, and it is in this regard that BEAC strategy calls for Batswana to change their mindset and not rely on government.

The government is expected to [continue reading]

source: BOPA
20 May, 2008

FRANCISTOWN – Preparations for the Botswana Confederation of Commerce, Industry and Manpower (BOCCIM) northern trade fair are said to be at an advanced stage.

BOCCIM has so far registered about 99 exhibitors as compared to 95 last year. The fair, with the theme Making SMMEs Competent for Sustainable Economic Growth, is billed for May 22-to-25.

BOCCIMs regional director Ms Eileen Van Der Est said in an interview that they have made a number of improvements to attract more exhibitors and the public.

According to Van Der Est, Local Enterprise Authority (LEA)s chief executive officer, Dr Tebogo Matome, is expected to officially open the trade fair.

Ms Van Der Est said this year her organization has paved the fair-grounds to reduce dust as many people had previously raised concerns that they are too dusty.

She said some local artists will be playing live during the fair to [continue reading]

source: BOPA
22 May, 2008

SEROWE – An official of the Ministry of Education and Skills Development says there is a serious shortage of science teachers in public schools.

The ministrys Principal Public Relations Officer, Mrs Nomsa Zuze, said localisation has not helped to solve this problem and the ministry was forced to employ foreign teachers.

Mrs Zuze said graduates from the University of Botswana were far from satisfying qualifications for the vacant posts. The hard-hit subjects are biology, chemistry and physics.

We have a serious problem and it needs to be addressed as soon as possible, she said.

The situation had forced the ministry to [continue reading]

source: Bloomberg
By Joseph Balise

May 23 (Bloomberg) — Botswana’s new pan-African commodities and derivatives exchange will boost the development of the southern African country’s financial services industry, Vice President Mompat Merafhe said.

“It should bring considerable benefits to Botswana, including employment creation, tax revenue, infrastructure development, transfer of technology and economic empowerment,” Merafhe said at the opening of the exchange in the capital, Gaborone, late yesterday.

The Multi Commodities Exchange MCX Africa will [continue reading]

source: BOPA
23 May, 2008

GABORONE – Botswana and Cuba enjoy excellent relations, says Vice President Lt Gen. Mompati Merafhe.

He was welcoming four Cuban parliamentarians led by vice president of the Cuban National Assembly, Mr Jaime Hernandez-Baquero.

General Merafhe said the two countries share a functional relation that continues to benefit the people.

He said the Cuban government has in the past helped the country with medical personnel, and scholarships that have benefited many Batswana.

Gen. Merafhe said as the Vice President he has been assigned to develop a capacity of medical practitioners as many have left the country for greener pastures.

I therefore hope Cuban government will help us to develop a strong capacity for [continue reading]

source: BOPA
22 May, 2008

GABORONE – Batswana would soon have confidence and peace of mind when using condoms as Botswana Bureau of Standards(BOBS) has finally drafted a standard for condoms.

The draft standard which is called Natural latex rubber condoms ISO 4074:2002 is said to be an international standard for condoms.

According to the technical secretary of the standard working group, Ms Kopano Bogopa, the draft standard is on a public comment stage, after which it would be adopted.

Currently there is no regulation of the quality and the standard of condoms used in the country.

The condoms produced either in or outside the country do not have a standard that they are expected to meet.

The draft standard states that [continue reading]

source: allAfrica
The Herald (Harare)

23 May 2008
Posted to the web 23 May 2008

Victoria Ruzvidzo And Happiness Zengeni

The Reserve Bank of Zimbabwe has, with immediate effect, suspended indefinitely the fungibility of shares for all dually listed companies.

This effectively means that it is no longer permissible for shareholders to locally buy shares of dually listed companies and dispose them in offshore markets for foreign currency as had become prevalent.

The affected shares are Old Mutual, African Banking Corporation and Kingdom Meikles Africa Limited. RBZ Governor Dr Gideon Gono yesterday sent a letter to the stock exchange advising the bourse of the changes. “With immediate effect, therefore, kindly advise such companies as Old Mutual and other dually listed companies that their local shares cannot be traded in offshore markets as has been the case to this point,” he said. The move was, therefore, expected to rid the [continue reading]