Archive for October 2nd, 2008

source: Standay Standard
by Bashi Letsididi
02.10.2008 8:47:44 A

The government turned down an offer of 150 breathalyser kits from liquor traders. Each police station in Botswana would have been given two kits and at their own expense, the traders would have trained police officers on the proper use of these contraptions.

This offer was part of a package of proposals extended to the government after it asked the traders to submit an alternative to the alcohol levy. The proposals came to naught and the government is going ahead with its plans to implement a 30 percent levy on alcoholic beverages.

The traders’ plan, which is spread out over a year, would have taken effect two months ago and have been implemented over a year, ending June next year.

It would have started with the presentation of harsher penalties “to serve as a deterrent to alcohol abuse” presented by [continue reading]

source: SW Radio Africa
By Lance Guma
01 October 2008

The fear of prosecution for human rights abuses and looting of state coffers by ZANU PF officials and security chiefs is at the root of the current deadlock over allocation of cabinet ministries. According to a senior official in the MDC, several ZANU PF bigwigs who were responsible for this year’s election violence which claimed the lives of over 131 opposition activists are reluctant to have their party concede ministries which have a direct bearing on their prosecution or immunity. In a series of meetings held before and after Mugabe’s trip to the United Nations summit, the ZANU PF leader has been warned against conceding the Home Affairs, Justice, Defence and Prison ministries.

Although speculation has often cited other ministries like Foreign Affairs, Finance, Information and Local Government, ZANU PF’s desire to cling on to portfolios linked to justice and security remains the critical stumbling block. Other officials implicated in illegal financial, mining and other scandals have also thrown their spanners into the works trying to stifle the deal. Newsreel has been told Gideon Gono who heads the Reserve Bank fears a forensic audit into his tenure as this could expose a lot of irregular dealings. Speculation that Mugabe wants to appoint Gono as Finance Minister has added to [continue reading]

source: BBC News
South Africa’s new President Kgalema Motlanthe has said his predecessor, Thabo Mbeki, should continue to lead mediation efforts in Zimbabwe.

Mr Mbeki brokered a power-sharing deal between President Robert Mugabe and his long-time rival, Morgan Tsvangirai, before stepping down last week.

Mr Tsvangirai’s party says talks on forming a cabinet are deadlocked and outside mediation is again needed.

But the president’s Zanu-PF party has denied there is a stalemate.

Mr Motlanthe’s statement comes as [continue reading]

source: Standay Standard
by Gowenius Toka
02.10.2008 9:14:40 A

The Botswana Stock Exchange (BSE) is mulling over plans to introduce a securitisation market in a bid to off–load the local banks and insurance companies of toxic assets while at the same time bolstering the fledgling capital market in the country.

Thapelo Tsheole, product development manager at BSE, told Sunday Standard in an interview that the move towards the introduction of securitization will first be discussed at the upcoming conference slated for October 9 at GICC.
The process of securitization involves a situation where the primary dealers such as the banks sell some of their illiquid assets which are then transformed into instruments that can be traded on the counter.

This can take the form of mortgage loans or credit cards which their risks would then be [continue reading]

source: Frontier India Strategic & Defence
Written on October 1, 2008 – 3:13 am

Zulu Energy Corp., an exploration stage independent energy company focused on the discovery and development of coal bed methane in the Republic of Botswana in Southern Africa announced today that during drilling operations, through its wholly owned subsidiary, Nyati Resources Botswana, an unexpected occurrence of natural gas was encountered. This surprise discovery occurred as the Company recently embarked on its initial exploratory phase and, as a precautionary measure, the well was temporarily shut-in until the required safety equipment has been mobilized and installed at the drilling location.

Brian Hughes, Chairman of the Board of Zulu Energy stated, “Our business plan outlines a multiphase program. During the initial phase of exploration in Botswana we plan to [continue reading]

source: Bloomberg
By Joseph Balise

Oct. 1 (Bloomberg) — Alcohol consumption in Botswana, where the government plans to implement a 30 percent levy on beer, wine and spirits, needs to be curbed to prevent the spread of HIV, President Ian Khama said.

“We have long been aware of its role in promoting the spread of HIV, as well as the significant contribution to anti- social, risky and criminal behavior,” Khama said in a speech to mark the country’s independence from Britain 42 years ago.

Botswana has the world’s second-highest number of [continue reading]