Archive for November 6th, 2009

source: The Botswana Gazette
Written by EDITOR
Tuesday, 03 November 2009 12:52

• Their pensions to be reduced and taxed
• Retirement at 45 to be re-introduced in new Public Service Act

Civil servants who were recently forcibly retired from their government jobs stand to lose thousands of Pula because they were dismissed under a provision of the old law that allows the government to retire its employees at age 45.

The last Parliament passed a new Public Service Act that does not contain this provision; but it has not yet come into force. It is understood that the government intends to amend the new Act to bring back retirement at 45 without consulting public service trade unions.

During the past couple of weeks 25 people have been forcibly retired from three government departments – 15 from the Department of Building and Engineering Services, four from the Department of Immigration and six from the Central Transport Organisation; most were middle managers. The Gazette is reliably informed that a senior Immigration official fainted upon receiving the [continue reading]

source: Mmegi
Staff Writer

There are eight IFSC-certified companies for the year ended 31 March 2009, bringing the total cumulative capital investment by the companies to P6 billion from P4.5 billion the previous year.

The CEO of Botswana International Financial Services Centre, Alan Boshwaen, believes their facilitation efforts continued to “bear fruit” during the year under review as total employment created by these companies now stands at 585, comprising mainly professional skills intensive jobs.

The total tax contribution by Botswana IFSC companies during the [continue reading]

source: BOPA
05 November, 2009

GABORONE – Lack of technological know how has proved to be a serious challenge for diversifying Botswanas economy.

Minister of Finance and Development Planning, Mr Kenneth Matambo said the private sector might have funds, but technology has proved to be a huge challenge for manufacturing goods.

He said that it is time Batswana get into partnership with companies that are technologically alert if they are keen to make an impact in the industrial market, both locally and internationally, adding that the government has decided to invest highly on education because it wants to boost Batswanas confidence in business related issues.

Mr Matambo said eventhough the mining sector has grown, the countrys economy cannot solely rely on diamonds and that is the reason why they are preaching the idea of diversification despite being aware that the business concept is something new to [continue reading]

source: allAfrica
Business Day (Johannesburg)
Wyndham Hartley
6 November 2009

Cape Town — The government has withdrawn from its contract with Airbus to buy eight strategic airlift military aircraft, and hopes that the R2,9bn already spent on the acquisition of the planes can be recovered, as Airbus missed critical production deadlines.

The price tag for the aircraft had ballooned from the original R17bn to a staggering R47bn, it was revealed last month.

Airbus Military said yesterday it was surprised by the announcement. Industry experts said SA not getting the Airbus meant it would not have replacement aircraft for its ageing fleet of C130s, likely to be decommissioned from 2016.

Although SA could now look at buying newer models of the C130 aircraft, experts warned the market was constrained with [continue reading]