Archive for August 28th, 2008

source: Mmegi

Standard Chartered Bank Botswana Limited has launched a new customer service centre for corporate clients called the Client Service Group – CSG Centre.

Speaking at a press conference to launch the new centre, the Bank’s Executive Director of Origination & Client Coverage, Seseti Mogami said that the bank was geared towards enhancing service for both individual and corporate customers.

He added that while there already exists a centre for individual customers, the bank has been looking at creative ways to cater for its corporate clients without duplicating efforts. “Standard Chartered Bank places a lot of emphasis on world class service to customers and already has vibrant Excel and Call Centres that cater for individual customers. We therefore deemed it fit to open a centre specifically for corporate clients in order to cater for their unique needs and requirements.”

“The Client Service Group, is therefore a [continue reading]

source: Standay Standard
by Kgomotso Kgwagaripane
27.08.2008 9:17 A

Can Manufacturers Botswana (Pty) Ltd, the first food can manufacturing company in Botswana, which is a subsidiary of the Botswana Development Corporation (BDC) Limited, was this week officially opened in Lobatse.

Speaking at the launch of this company, BDC Managing Director, Kenneth Matambo, explained that the establishment of Can Manufacturers emanated from the need for manufacturing and provision of food cans to service the meat, fruits, vegetables and fish markets locally and regionally. He said the project is in line with BDC’s mandate of promoting and financing commercially viable businesses that contribute to the economic development and diversification of Botswana.

Matambo said the establishment of this [continue reading]

source: SW Radio Africa
By Tichaona Sibanda
27 August 2008

Robert Mugabe has responded to the humiliation he faced in Parliament on Tuesday by threatening to form a government, with or without the MDC.

In remarks made at a luncheon following the unprecedented scenes in parliament where his speech was often drowned out by the jeers of MDC MPs who clapped and sang songs deriding him and his ZANU PF party, Mugabe said he would soon be setting up a government as the MDC does not want to come in.

The comments drew an angry response from both factions of the MDC. Nelson Chamisa warned Mugabe that he would be declaring war against the people if he goes ahead and announces a new cabinet.

“You can’t just have a cabinet without a mandate. He should wait for the conclusion of the dialogue together with the MDC, otherwise what he is doing is a recipe for disaster,” Chamisa said.

The spokesperson for the smaller MDC faction, Edwin Mushoriwa added: “We are not going to be part of Mugabe’s government. We are [continue reading]

source: Mmegi

For the SADC Trade Protocol to yield the desired results competition policies must be effectively implemented by the 14-member states, a senior Botswana government official, has said.

Speaking yesterday at the SADC Regional Conference on Competition Policy and Law, Permanent Secretary (PS) at Ministry of Trade, Banny Molosiwa said that anti-competitive behaviour will nullify markets.

“The liberalisation of markets in the region does not only open up opportunities, but also brings along some challenges in terms of ensuring fair competition in such liberalised markets,” she said. At a recent summit in South Africa, 11 members of SADC signed an agreement for a Free Trade Area that paves way for the removal of tariffs and non-tariff barriers.

Molosiwa fears that if competition policies are not properly implemented, markets will be impaired by the anti-competitive behaviour of [continue reading]

source: IOL
August 27 2008 at 06:46PM

With the short-term outlook for inflation likely to improve and the economy expected to weaken further, the SA Reserve Bank was likely to keep rates on hold for the rest of the year, Nedbank Group’s Economic Unit said on Wednesday.

“We expect the first cut to come in April 2009 – however, once the interest rate cycle turns, rates are often cut much faster and by more than the market expects, particularly when the economy is showing signs of stress,” Nedbank said.

The bank’s comments came after the release of inflation data for July.

Earlier Statistics SA said that CPIX inflation, which excludes mortgage costs, rose to a record 13 percent in July from 11,6 percent in June.

However, July’s inflation data did not come as a [continue reading]

source: Standay Standard
by Sunday Standard Reporter
27.08.2008 9:12:17 A

The First National Bank of Botswana (FNBB), the second biggest listed company on the Botswana Stock Exchange (BSE), shrugged–off share price slump as it posted sterling results but came shot of investor expectations in terms of dividends.

The banking outfit, which is the only one to report full year results around this time of the year, is also navigating its way towards the Basel II compliance—an international banking cash reserve compliance in the next 18 months—in a bid to tinkle candle lights along the International Financial Park area.

According to the full year report to the end of June 30, 2008 turnover amounted to almost P 1.2 billion and price earning ratio dramatically improved from 31 thebe to 16.3 thebe which gives a lot of comfort to investors in the company.
“This has maintained the impairment charge at low and acceptable levels of [continue reading]

source: News24
27/08/2008 17:26 – (SA)

Cape Town – Cape Town’s 2010 Soccer World Cup stadium is on track for completion in December next year, but the city wants national government to deal with the cost overrun, mayor Helen Zille said on Wednesday.

She told a council meeting that contractors were currently putting the concrete seating on the last of the three tiers of the stadium, in Green Point.

By the end of September the main construction work would be finished and subcontractors would move in to complete the specialised work including the high-tech roof.

Apart from infrastructure, the city was also preparing its human resources for the event. Additional law enforcement officers, a disaster operations centre and [continue reading]

source: SW Radio Africa
By Violet Gonda
27 August 2008

The gulf between the MDC and ZANU PF widened on Tuesday when Robert Mugabe went ahead and convened parliament, in breach of the Memorandum of Understanding signed by the rival parties. The rift cracked further as a result of events in the House on Tuesday when MDC MPs drowned out Mugabe’s speech with booing and heckling.

This has resulted in South African President Thabo Mbeki convening a meeting between the rival parties to resume the aborted negotiations. It’s reported the six negotiators, representing the Tsvangirai MDC, Mutambara MDC and ZANU PF are expected to meet with South African officials on Thursday.

Because of the media blackout surrounding the talks it has been difficult to verify this information but a senior MDC official, speaking on condition of anonymity said the negotiators were expected on Thursday to meet South African officials. The official said Mbeki convened the meeting in a bid to explore the way forward in light of the developments in Zimbabwe where ZANU PF has breached the MOU and has reversed gains achieved in the talks. “The meeting seeks to explore opportunities on [continue reading]