Archive for November 22nd, 2008

source: BOPA
19 November, 2008

GABORONE – Government will continue to make policy reforms to create an enabling environment for private sector growth. Speaking at the hand-over of the Private Sector Development Strategy (PSDS), Trade and Industry minister, Mr Neo Moroka, said the private sector has potential as an engine of growth.

Since the private sector was in its infancy, he said, it was important for it to grow for Botswana to become a global player. In line with the president’s remarks in the State-of-the-Nation Address, Mr Moroka said Botswana was aspiring to become a high income country, in the next decade, hence the need to develop micro economic structures.

Mr Moroka said PSDS would drive Botswana forward in its endeavour to develop its economy, and would provide the guidelines in NDP 10. Government, he said, would ensure that the plan would be implemented.

The strategy had been developed by [continue reading]

source: Mmegi
Staff writer

The Ministry of Finance and Development Planning is pushing a bill that will see the establishment of a financial intelligence agency specifically to fight money laundering.

According to the Government Gazette of November 12, the law will also provide for a national coordinating committee on financial intelligence.

The law will provide for the reporting of ‘suspicious transactions’. It will also empower the Financial Intelligence Agency to work with similar international organisations.

The agency will be headed by a director ‘with such other officers as may be necessary for the proper performance of the functions of the agency’ reads the bill in part.

The bill also states that the Financial Intelligence Agency will be an independent body, ‘free from [continue reading]

source: BOPA
19 November, 2008

PARLIAMENT – Lack of recreational facilities leads people to alcoholism, Specially elected MP Professor Sheila Tlou has said.

Commenting on the State of the Nation address by President Lt Gen. Seretse Khama Ian Khama on Monday, Prof Tlou said her opinion is informed research she has done on alcohol and risky behaviour.

“Alcohol makes one feel superior and people with no form of employment turn to alcohol drinking as a recreation,” she said.

Prof Tlou also said gender inequalities still exist in Botswana, and noted that this fuels the spread of HIV/AIDS as women who are HIV positive might even be scared to tell their partners for fear of being beaten.

She said there are also political inequalities as one would find the [continue reading]

Kashiefa Ajam
November 22 2008 at 08:35AM

On the day that a KwaZulu-Natal magistrate was lambasting the police’s VIP protection unit for “terrorising road users and having no regard for the law” it was reported that ANC President Jacob Zuma’s 33-vehicle motorcade ripped through Limpopo, often travelling three times faster than the speed limit.

With blue and white lights flashing, the motorcade zipped over zebra crossings in built-up areas at 180km/h where the speed limit is clearly marked at 60km/h.

At one point, the convoy stretched over more than 1km. Traffic officers drove ahead, forcing traffic in both directions off the road while their colleagues blocked off every crossing on the route to allow the convoy unimpeded progress.

Then came the so-called “blue-light bullies” of [continue reading]

source: BOPA
20 November, 2008

GABORONE – The First National Bank Botswana (FNBB) is committed to adding value to the economy by way of stimulating the entrepreneurship development. The bank is committed to assisting in this vein by its willingness to provide financial assistance to new and ongoing business enterprises.

The bank is partnering with the Local Enterprises Authority (LEA), the Sunday Standard newspaper and University of Botswana in a business competition called Itsose to encourage entrepreneurship development.

Speaking at the launch of the competition at the Mokolodi Nature Reserve on Monday, the Chief Executive Officer of FNBB, Mr Danny Zandamela, said they recognised the role entrepreneurs play in the economy, hence the current initiative.

Mr Dandamela said entrepreneurs created wealth, not only for themselves but also for [continue reading]

source: Financial Gazette
Shame Makoshori, Senior Business Reporter

Asian giant is country’s second largest trading partner after SA

TRADE volumes between Zimbabwe and China could surpass US$500 million this year from US$275 million in 2006 despite a worsening economic crisis in the country, a senior Chinese embassy official said recently.

Zimbabwe and China share strong economic ties built around the “Look East Policy” adopted by President Robert Mugabe’s government after European and Western states withdrew their support in the late late 1990s.

China has become Zimbabwe’s second largest trading partner after South Africa although the balance of trade remains in favour of the Asian economic giant.

Official statistics indicate that the country suffered a US$189 million trade deficit against China in the first half of last year.

During the period, Zimba-bwe exported US$16 million worth of goods to China against US$205 million worth of goods that China exported to [continue reading]

source: BOPA
20 November, 2008

GABORONE – The escalation in the number of copyright infringements poses a formidable threat to the intellectual property rights, says Kenyan based Microsoft Anti-Piracy Manager, Mr Abednico Hlatshwayo.

Mr Hlatshwayo said this at a media conference organised in conjunction with the Botswana Police in Gaborone recently to create awareness about the consequences of being involved in pirating other people’s work.

Mr Hlatshwayo explained that software piracy involves the distribution of non- genuine Microsoft software without a licence to do so.

He explained that if left unchecked Microsoft stands to lose a lot of money and will not be able to finance new inventions.

The Microsoft representative noted that this was not a problem for his company alone but rather part of the bigger illegal underground [continue reading]