Archive for October 28th, 2009

source: BOPA
28 October, 2009

GABORONE – Local investors who have shares in Discovery Metals will not be able to increase their shares after the company said only those in Australia and New Zealand are eligible.

Discovery Metals is undertaking the Boseto Copper Project in Ngamiland District, 80km south west of Maun.

In a press release announcing plans to raise about $3 million, the company says participation in the share purchase plan will be open to registered shareholders of fully paid ordinary shares who have registered addresses in Australia and New Zealand.

The company is based in Australia and listed in the Botswana Stock Exchange (BSE), Australian Stock Exchange (ASX) and London Stock Exchange.

The company aims to use the money to complete the bankable feasibility study at [continue reading]

source: Mmegi
Staff Writer

Life seems to have returned to the Botswana Stock exchange as investors become more optimistic about the bourse and the country’s economic performance generally.

Last week, investor appetite for risk sharpened as evidenced by higher demand for stocks, especially those of large caps. During the week, investors’ attention shifted to heavily capitalised counters such as Barclays and FNBB and middle capitalised counters such as Turnstar and Imara with huge volumes traded in the respective counters.

However, an analyst with Motswedi Securities, Gary Juma, says he is not getting carried away [continue reading]

source: BOPA
28 October, 2009

GABORONE – Accredited private tertiary institutions have been urged not to compromise quality.

Officiating at Gaborone Institution of Professional Studies (GIPS) graduation ceremony yesterday, former president, Mr Festus Mogae said there should be no room for sub-standard education whose graduates would fail to compete with others for job opportunities and business ventures.

Mr Mogae said students from private institutions should emerge as well-rounded patriotic individuals who could attract employers.

He added that quality should not only be reflected in the content of the curriculum but delivery as well because a strong curriculum delivered badly could harm learners and [continue reading]

28 October 2009

South African Finance Minister Pravin Gordhan has announced the further relaxation of exchange controls in a bid to reduce the cost of doing business in the country and attract more foreign investment.

Presenting his Medium Term Budget Policy Statement in Parliament in Cape Town on Tuesday, Gordhan said the foreign capital allowance for residents, which was last adjusted in 2006, would be increased from R2-million to R4-million, while the single discretionary allowance would be increased from R500 000 to R750 000.

To improve access to domestic credit in the financing of local foreign direct investment, restrictions on the granting of local financial assistance to affected persons have been further liberalised, with the doing away of the 3:1 ratio.

Among a number of proposed reforms to cut red tape relating to business transactions, is a plan to allow South African companies to invest in [continue reading]

28 October 2009

The South African government aims to create 4.5-million short-term jobs through its Expanded Public Works Programme over the next five years, while rationalising its incentives for businesses to create more jobs, and supporting labour-intensive infrastructure projects, says Finance Minister Pravin Gordhan.

Support for labour-intensive projects

Presenting his Medium Term Budget Policy Statement in Parliament in Cape Town on Tuesday, Gordhan added that a wage-based incentive mechanism was being implemented to encourage government departments and municipalities to use funds for labour-intensive projects.

The incentive is aimed at the infrastructure sector, and at non-governmental organisations and community organisations that provide services on [continue reading]

source: BOPA
28 October, 2009

SELEBI PHIKWE – The Ministry of Works and Transport is in the process of acquiring a plot and developing it into a parking area for long distance truck drivers.

The parking area will have facilities such as ablution blocks, counselling centres and HIV/AIDS testing rooms, contraceptives, stalls and security personnel, says Mr Mpaphi Letsholathebe, the Central Transport Organisation (CTO) works superintendent in Selebi Phikwe.

He said public transport drivers, long distance truck drivers and public officers whose work entails travelling long distances are at risk of contracting sexually transmitted diseases because they use the services of commercial sex workers and are prone to have many relationships.

Speaking at a breakfast workshop attended by all stakeholders in [continue reading]

source: Mmegi
Staff writer

De Beers produced 7.9 million carats in the third quarter ending September 30, which is a 40-percent decline from the same period last year.

According to an interim results statement by Anglo American Plc, which owns a 45 percent stake in the company, the third quarter production brings the total output for 2009 to 14.476 million carats.

The Oppenheimer family and the Botswana government own the rest of De Beers’ shares, 40 percent and 15 percent respectively.

De Beers, which is forecast to produce only half of the 2008 output, says although the third quarter production is a decline from [continue reading]

source: allAfrica
The Times of Zambia (Ndola)
28 October 2009

Lusaka — HEALTH Minister Kapembwa Simbao has said Zambia is advancing towards the malaria-free status after reducing the prevalence rate to an average of 35 cases in every 1,000 people.

Mr Simbao said in Lusaka yesterday that the rate of death emanating from the disease had been reduced by 66 per cent as per World Health Organisation (WHO) findings and that was partly attributable to the use of coartem.

He said this during a Press briefing on the use of coartem as first-line treatment of malaria attended by journalists, some from Europe, who are in the country under the sponsorship of Novartis Malaria Initiative, the manufacturers of coartem.

He said although international records showed that Zambia had not yet attained the [continue reading]