Archive for November 2nd, 2009

source: allAfrica
African Development Bank
(Tunis)
2 November 2009
SPONSOR WIRE

Tunis — The project involves the construction of a 600-MW (4 x 150 MW) coal fired power plant and associated transmission infrastructure. The Morupule B plant will be located adjacent to the existing Morupule A plant, and connected to the national grid by two new transmission lines.

Designed to help the country achieve energy self-sufficiency, the project will, on completion, support economic growth and reduce poverty. Botswana has, until now, relied on the importation of electricity to meet its growing demand (500 MW in 2008 and around 600 MW projected for 2012). In 2008, 80% of the electricity supplied in Botswana consisted of imports from neighbouring countries, notably from South Africa. The remaining 20% was generated by the country’s Morupule A, a 25-year-old plant.

However, as a result of the acute energy crisis in the region, neighbouring countries are rapidly reducing exports to Botswana, and the country has been forced to resort to [continue reading]

source: Sunday Standard
by Ray Ndlovu
01.11.2009 11:24:03 A

Botswana President Ian Khama is expected to visit US President Barack Obama next Thursday, when the two leaders are to discuss sound governance, economic development and natural resources conservation, the White House said Friday.

The White House called Botswana “a strong democratic partner” in sub-Saharan Africa.
Botswana has this year emerged as one of the leading stable democratic countries in Africa, ranking fourth in the index of African governance, as recently released by the Harvard University’s Kennedy School of Government.

The index ranks all 53 African countries according to performance in safety and security, rule of law, participation and human rights, sustainable economic opportunity and human development. Mauritius ranks number one in Africa, a position it has [continue reading]

source: IOL
November 01 2009 at 08:41AM
By Eleanor Momberg

A legal battle is looming between the Mvelaphanda Group and Felix Nkusi, a “facilitator” who allegedly introduced Human Settlements Minister Tokyo Sexwale to senior government officials in Chad, paving the way for the company’s investment in mining opportunities in the northern African state.

At the time, Sexwale was chairman of Mvelaphanda. He resigned when he was appointed to the cabinet earlier this year.

Nkusi claims he is owed more than R2-million in facilitation fees for introducing Sexwale and Mvelaphanda to Idriss Deby, president of Chad, and mines and geology minister Mahamat Ali Abdullah Nassour between 2004 and 2006.

But Mvelaphanda and Sexwale deny any payment is due because Nkusi had no formal written mandate from the company to facilitate introductions on [continue reading]

source: Sunday Standard
by Sunday Standard Reporter in Bulawayo
01.11.2009 10:51:15 A

The International Monetary Fund (IMF) has commended Zimbabwe’s recovery progress, but has however warned on the large external current account deficit and increased credit as well as liquidity risks in the banking system.
During its recent visit to the country, the IMF mission stated that Zimbabwe’s economy has begun to recover in 2009, albeit from a low base.

The mission further noted that since early 2009, the government has broadly adhered to cash budgeting, achieved a significant improvement in budget revenue, established a multi-currency system, and largely liberalised prices and the exchange system, saying as a result of these improved policies, real GDP is projected to grow by about 3 percent.

The IMF also noted that the [continue reading]

source: News24
2009-11-01 22:52

Johannesburg – A process to provide high-speed optic-fibre connections to the Southern African Large Telescope (Salt) in the Karoo is in progress, Telkom said on Sunday.

“Technical feasibility studies have been concluded… At present, Telkom and Meraka [Institute] are in the process of formalising the commercial parameters associated with the Salt location in Sutherland,” said spokesperson Ajith Bridgraj.

Bridgraj was responding to the Sunday Times report that astronomers at the science facility had problems with slow downloads and have resorted to [continue reading]

source: Mmegi
ISAAC PINIELO
Correspondent

FRANCISTOWN: Tati Nickel Mining Company (TNMC) general manager, Sebetlela Sebetlela, has called on mining companies to prevent accidents before they happen.

Welcoming guests at the Botswana Chamber of Mines annual Inter-Mine First Aid competitions held at TNMC recreational club on Saturday, Sebetlela said it is imperative for mining companies to focus on preventing accidents before they happen rather than applying first aid.

He stated that mining is a hazardous profession with many of its activities carrying some risk to life and limb. He said that despite all the efforts aimed at prevention, occasionally accidents occur that result in [continue reading]

source: Sunday Standard
by Sunday Standard Reporter
01.11.2009 11:12:49 A

Botswana may be caught in the crossfire of plans by the Kimberly Process to suspend Zimbabwe from the world diamond market.

Zimbabwe is likely to be banned from the world diamond market because of human rights violations and other irregularities at the country’s notorious Chiadzwa Diamond Fields in Zimbabwe’s Marange district, it emerged on Thursday.

The ban has been recommended by a Kimberley Process (KP) review mission, which visited the country in July and which has just released its final report on the state of diamond mining in Zimbabwe.

The mission has called for a temporary ban of [continue reading]

source: Mmegi
WANETSHA MOSINYI
Staff Writer

The number of Botswana travellers to South Africa made a quick recovery in three months after declining by a staggering -11.4 percent in the first quarter ending March 2009, reports the latest South African Tourism Index (SATI).

The trend reversed in subsequent months to register an overall growth of 13.1 percent in the first half of the year.

SATI says 74 058 Botswana residents travelled to South Africa from January to July this year, compared to 65 477 in the same period last year. Despite the overall growth in the six months, Botswana travellers to SA had declined by -11.4 percent in the first quarter ending March 2009 as the full impact of the global financial crisis on [continue reading]

source: Sunday Standard
by Sunday Standard Reporter
01.11.2009 10:44:57 A

Turnstar, the property giant in the local market, said its six months results “were better than expected” as they remained flat in the light of economic recession that could have theoretically resulted in high default and vacancy rates.

All segments of the business remained flat for the six months to end of July 2009, a move that was largely attributed to a more hands-on management system implemented during the troubled times.

According to the half year results, revenue stood at P 40 million from P37 million recorded during the [continue reading]