Archive for June 18th, 2008

source: Mmegi
WANETSHA MOSINYI
Staff Writer

Despite price correction which took place in the second half 2007, the Botswana Stock Exchange (BSE) market turnover and liquidity increased by 100 percent and 61 percent respectively during the year.

In its annual report released recently, the BSE said it recorded an average daily turnover of P3.4 million, which was an increase from P1.7 million in the previous year.

BSE CEO Hiran Mendis said the price correction could not be considered to have been a negative development since it helped to align market prices with value.

The number of shares traded on the local bourse also increased from 87.2 million in 2006 to 124.6 million in 2007, registering a growth of 42.9 percent.

“There is doubt that [continue reading]

source: Sunday Standard
by Godfrey Ganetsang
17.06.2008 8:51:48 A

Tati Nickel Mine continued their trailblazing corporate social responsibility program last week when they unveiled their project on results improvement initiative in Maths and Science at Shashe River School.

The project is a people centered development initiative that is a result of a partnership between Tati Nickel and the department of secondary education. It commenced with a needs assessment initiative at different schools, with focus on maths and science and culminated with the mining giant forking out P950 000 to benefit Shashe River School and six other junior secondary schools.

To enhance performance in the project, Tati Nickel has also introduced a revolving trophy for most improved results in math and science as a way of gauging if their investment is bearing fruit. “We want the students to uphold the principles of competition at [continue reading]

source: BOPA
18 June, 2008

LETLHAKANE – Tourism is both a tool for leisure as well as a tool for socio-economic development, says environment, wildlife and tourism minister, Mr Kitso Mokaila.

Officially opening the renovated Leroo la Tau Lodge in Khumaga, he said tourism was also a tool for job creation and most of all poverty alleviation.

He said as the minister responsible for tourism he was pleased to see developments such as Leroo la Tau Lodge as they brought employment and economic development to areas which had previously not enjoyed much of the benefits of tourism.

I am informed that the lodge currently provides employment to 21 people from Khumaga village, we wish the lodge a success so that more people could be employed.

He told the audience that Leroo La Tau had been in existence since 1998, adding that the opening of refurbishing was due to its owners, the Watson Family, going in to a joint venture with Chobe Holdings, a public company listed on the Botswana Stock Exchange.

In recognition of the need to be up to date with the [continue reading]

source: Sunday Standard
by Sunday Standard Reporter
17.06.2008 8:49:56 A

Southview, a creation of Venture Partners Botswana and BOMAID, raised warning bells in the market this week by offering P 17 million offer in a protected hostile take-over of the ailing Med Rescue International Botswana.

The move signaled a new chapter in the history of MRIB, which might see it being de-listed from the Botswana Stock Exchange as the suitors wanted to take-over the 81.51 percent shares which they do not hold.

In a statement released this week, the suitors said that they are offering 125 thebe per share against 112 thebe price which was the last trading price when the company got suspended from trading in March 28.

“The offer is subject to the condition that they must be validly deposited under the offer and not [continue reading]

source: BOPA
18 June, 2008

GABORONE – The Ministry of Finance and Development Planning has appointed a six-member board of directors for the newly formed Non-Bank Financial Institutions Regulatory Authority.

The regulatory authority was formed after Parliament passed the Non-Bank Financial Institutions Regulatory Bill in December 2006 to regulate non-bank financial institutions including micro lenders.

The board members are Mr Kenneth Matambo, the managing director of the Botswana Development Corporation as its chairperson; Mrs Linah Mohohlo, governor of Bank of Botswana; Mr Serwalo Tumelo, the permanent secretary in the Ministry of Finance and Development Planning; Ms Lily Matenge, the managing director of her company; Ms Matlala Dube, an audit manager with the Botswana Building Society and Mr Christopher Greenland, a board member with the Motor Vehicle Accident Fund who is also a technical advisor with the Namibian Motor Vehicle Accident Fund.

Mr Serwalo Tumelo says the board is responsible for the policy and general administration of the regulatory authority and may exercise all the powers of the authority.

He says the purpose of the authority is to regulate non-bank financial institutions and enhancing the [continue reading]

source: Mmegi
BRIAN BENZA
Staff Writer

Because lending to the household sector is becoming increasingly saturated, banks need to look at new avenues of driving future growth, a report by the Capital Securities suggests.

The report says in recent years, lending to the household sector has been the traditional driver of banking growth in Botswana, but due to rising rates of arrears and concerns about over-borrowing, banks must consider other areas of potential growth.

Capital Securities identifies these as the low-income/unbanked market, new opportunities offered by technology challenges and the underserved business sector.

“Banks need to find ways of providing part of mining finance needs, if they are to be involved with [continue reading]

source: BOPA
18 June, 2008

GABORONE- Botswana recognises that solar energy is the most promising renewable energy source in Botswana, says minerals, energy and water resources minister, Mr Ponatshego Kedikilwe.

Officially opening Solar Streetlights in Gaborone, Mr Kedikilwe said if solar technology was widely adopted, the quality of life of many citizens would greatly change for the better, especially the rural womenfolk who suffered the drudgery of domestic chores.

In addition, he said solar lighting would extend their daytime significantly, saying currently, it was not safe to walk even short distances in places that were enveloped by darkness as soon as the sun sets.

He said the solar power initiatives for street lighting currently promoted, among others by Vilart Energy were encouraging examples.

Ostensibly, he said the Vilart technology only required a battery with a capacity to store five days of power without the sun, a small ray of light on the panel (with 25 year-year life span) and poles.

He told the audience that the company answered a [continue reading]

source: IOL
June 18 2008 at 02:15PM

Politicians showed mixed reactions to a 13,3 percent tariff hike granted to Eskom on Wednesday, with the ruling party welcoming the decision while the Freedom Front Plus described it as “bad news”.

The African National Congress said the National Energy Regulator of South Africa’s (Nersa) ruling was a “vast improvement” on the 53 percent hike Eskom had requested.

“The Nersa decision will limit the negative impact of the increase on consumers and the economy, while ensuring that the country will be able to meet its growing energy needs,” ANC spokesperson Jesse Duarte said in a statement.

“The ANC welcomes in particular the regulator’s determination that the additional tariff increase not be applied in respect of poor households,” she added.

Nersa granted Eskom an additional 13,3 percent average increase on top of [continue reading]

source: Sunday Standard
by Godfrey Ganetsang
17.06.2008 8:50:56 A

The economic prospects of the city of Francistown are once again at their lowest ebb after the collapse of the Activox project. Botswana’s second city is once again facing bleak economic prospects reminiscent of yester years when it had little or no developments with a negligible contribution to the national economy because of the limited economic activity that was going on in the city.

But all that was shelved when Francistown, which has a rich history as a mining town, once again experienced an unprecedented economic boom after the discovery of copper, nickel and gold in areas surrounding the city, which culminated in the opening of the Tati Nickel and Mupane mines. Recent developments at the Mowana mine in nearby Dukwi also served to once again escalate the economic prospects of Francistown.

Suddenly, Francistown was the pride of Botswana as it was once again a key player in [continue reading]

source: BOPA
17 June, 2008

RAMOTSWA – Health authorities have been called upon to continue to look for blood donors as they are important partners in strengthening health care systems.

Speaking during the World Blood Donor Day under the theme: Give Blood Regularly WHO Representative Dr Caroline Akim said blood donors were much more than providers of a commodity for management of patients or raw materials for the manufacturing industry as they give the gift of life.

Dr Akim said health authorities should continue to be involved in recruitment and management of blood donors to donate regularly.

She urged them to create mechanisms as well as conducive and enabling environments that would motivate blood donors to participate periodically.

Dr Akim said Botswana had made major strides over the past few years, adding that: We have noted with admiration the careful recruitment and retention of secondary school students as perhaps the largest single contributing cohort of safe blood through Pledge 25 clubs and other mechanism.

We have also noted that [continue reading]

source: Mmegi
MARTIN NYIRENDA
Correspondent

In an effort to encourage private sector participation in the national economic affairs, the Public Enterprises Evaluation and Privatisation Agency (PEEPA) has reaffirmed its intention to develop and facilitate the expeditious roll-out of outsourcing services.

PEEPA has also developed a standard set of four Service Level Agreements (SLAs) covering priority outsourcing, namely catering, security, cleaning and landscaping.

Speaking at a two-day SLA training workshop on Outsourcing of Public Services last week at Mmokolodi Nature Reserve just south of Gaborone, PEEPA Chief Executive Officer Joshua Galeforolwe said public sector managers are increasingly turning to outsourcing at a time when improving efficiency is seen as cardinal.

The workshop focused on the promotion of SLAs as a public sector tool for [continue reading]

source: Sunday Standard
by Sunday Standard Reporter
17.06.2008 8:52:22 A

CIC Energy, the titanic energy company raised Botswana’s hopes this week at the Botswana Economic Forum as it indicated that it has an abundance of exportable coal resources which are expected to last for 40 years, making the Ministry of Energy a shinning example in the development of the country.

The company also announced the plan to build a power station and a rail-line that will link Botswana with the Namibian ports which will relief pressure from the South African port of Richard’s Bay.
“We are a landlocked country and the challenge is how we take our coal to the port,” Eddie Scholtz said.

The company said it will take advantage of Botswana’s dry port in Namibia while at the same time embarking on aggressive plans to construct a 2400 mw power station during phase 1 of the mining plan.

“We are going to build a 1 500 kilometers rail line which will connect Botswana to the Namibian ports,” he said, adding that the decision is still awaiting the environmental impact assessment study.
“Seventy-five percent of our power will be sold to ESKOM while the rest will go to the Botswana Power Corporation,” he said.

The company has drilled 2500 holes at its Mmamabula project, which is [continue reading]

source: BOPA
17 June, 2008

GABORONE – Duncan Vos has successfully defended his title as the king of the desert in the Toyota Kalahari Botswana 1000 Desert Race.

Vos, who was driving a Nissan Navara, left his Toyota and Ford competitors in the dust as he was the first to cross the finish line at Hatsalatladi on Saturday, although he had started the race behind three Toyotas.

With his navigator Louis Weichelt by his side, Vos has ensured that Nissan dominates the race over the years, and in the process has endeared the bakkie to a sizable number of locals.

Spectators who watched the race had predicted that Toyota would win the race as it had opened a huge gap. Other spectators pinned their hopes on their favourite driver, Hannes Grobler, who has multiple race titles under his belt.

When BOPA team arrived at Thagale, Toyota was still in the lead as [continue reading]

source: allAfrica
Inter Press Service (Johannesburg)
17 June 2008

Hilaire Avril
Paris

Some of the 35 African, Caribbean and Pacific (ACP) states that have initialled interim economic partnership agreements (EPAs) may still withdraw from the process – apart from the 44 states that have so far refused to sign EPAs with the European Union, according to researchers studying the fraught trade negotiating process.

“There is certainly the possibility that some countries which have initialled interim EPAs may not go on to sign them, although we expect most to do so,” says Dr. Christopher Stevens, director of programmes at the Overseas Development Institute’s (ODI) international economic development group and co-author of a recent report on the EPAs.

“The [European] Commission originally had June as the deadline for signature. That has been pushed back to September, and some member states believe that to be optimistic,” he adds.

“Whether full EPAs will ever be finalised, as envisaged, remains open,” says Dr. Mareike Meyn, a researcher with the [continue reading]

source: Sunday Standard
by Gowenius Toka
17.06.2008 9:10:43 A

The escalating rate of crime in the country has reached a point of alarm for Government.
The Minister responsible for the police, Dikgakgamatso Seretse, has ordered the Commissioner of Police to decelerate crime or get the chop for failure to perform.

Information passed to The Sunday Standard by authoritative sources indicates that the Minister of Defense, Justice and Security is also said to have put it in black and white, that the Police must adopt up-to-date, state of the art technology to enhance their capabilities.

Answering for his senior, Deputy Commissioner of Police, Operations, Kenny Kapinga, had this to say, “Personally, I am not aware of any specific instructions or letter equivalent to an ultimatum from the Minister to the effect that the Commissioner’s head may be on the line.”

When asked to discount the possible existence of such a letter, he responded thus, “It is generally known, and has been categorically pronounced at the advent of the new regime that those who do not perform will be sanctioned.”

Kapinga, who is the custodian of [continue reading]