Archive for June 18th, 2009
Another interest rates cut by the Bank of Botswana (BoB) is likely as inflation figures this week fell to single digits, for the first time in 14 months.
On Monday, the Central Statistics Office (CSO) reported that annual inflation for the month of May fell from 10.2 percent to 8.4 percent. The last time annual inflation figures was under 10 percent was in March 2008 when it stood at 9.8 percent.
In line with falling inflationary pressures and the need to support economic activity, the central bank has cut the bank rate three times since December and commercial bank made corresponding cuts.
Although Botswana has always had relatively high interest rates in the region, the cut in the bank rate in [continue reading]
Business Day (Johannesburg)
18 June 2009
Johannesburg — According to the US Trafficking in Persons 2009 Report released yesterday, SA had been identified as a source, transit and destination country for trafficked men, women and children.
The report revised SA’s standing from Tier 2 Watch-list to Tier 2, saying the government had taken encouraging steps in partnership with nongovernmental organisations .
Such ratings are regarded as the primary diplomatic tools with which Washington encourages partnership in the fight against forced labour, sexual exploitation and modern-day slavery.
The report acknowledged that SA prosecuted at least 16 suspected trafficking offenders last year. SA established a [continue reading]
SIKI MOTSHWARI JOHANNESS
PALAPYE: In an unprecedented development, the launch of the Botswana Democratic Party (BDP) Morupule council aspirant ward aspirant, Elizabeth Dingongorego Gabathuse was a huge event.
Launches of council candidates that preceded Gabathuse’s one, turned out to be low-key events which hardly received the attention of the party bigwigs. Not only did her’s attract a good crowd but the party’s big guns, especially from what is known as BDP’s A- team, were in attendance.
Inter alia, the impressive line up comprised cabinet Minister Oreeditse Molebatsi, Tebelelo Seretse-ex- cabinet Minister and A-team’s aspirant for the party chairmanship, Angelinah Sengalo- chair of the party’s Women’s wing, Peter Ngoma, ex -party deputy executive secretary, Fidelis Molao, Central District Council chairman, Lesego Raditanka and of course MP for the [continue reading]
Lobatse College of Education (LCE) will be permanently closed before end of the year, with staff given an option of an early exit package or deployment to other institutions.
The Ministry of Education said in a meeting at LCE last Friday that the college is too old and it does not have money to renovate or expand it. This year the University of Botswana (UB) warned LCE that it is going to remove it as an affiliate if it does not meet the standards of a college.
The UB was worried by the dilapidated infrastructure at LCE, which has not been upgraded for a long time. LCE was built in the early 1950s as one of the first two colleges in the country.
It is understood that the Ministry of Education has been under pressure from the UB to rehabilitate the [continue reading]
Business Day (Johannesburg)
18 June 2009
Johannesburg — RETAIL sales fell 6,7% in April compared with the same month last year, the biggest fall since records began in 2003, backing the case for the Reserve Bank to cut interest rates again at its policy meeting next week.
Yesterday’s official data for the economy’s third-biggest sector were worse than expected, adding to evidence that output is contracting for the third quarter in a row.
“Retail sales are likely to remain weak throughout the year,” said Nedbank economist Johannes Khosa. “Falling income due to rising job losses, reduced pay and falling asset prices is likely to keep consumers away from shops.”
SA has slipped into its first recession in 17 years, with factory output plunging in response to the global downturn and a sustained retreat in [continue reading]