Archive for February 26th, 2010

source: Mmegi

In a development that could push power tariffs in Botswana upwards, the National Energy Regulator of South Africa (Nersa) has approved an Eskom power tariff increase of 24,8 percent as from April 1, 2010, and subsequent increase of 25,8 percent and 25,9 percent for 2011/2012 and 2012/2013 respectively, chairperson Cecilia Khuzwayo announced on Wednesday.

Botswana imports 80 percent of its power needs mainly from Eskom.In November last year, South Africa’s State-owned power utility Eskom applied for increases of 35 percent a year over the three-year MYPD2 timeframe, having initially requested yearly increases of 45 percent, which it said were necessary to help it cover rising operational and capital costs.

The electricity price will rise to 41,5 c/kWh this year, to 52 c/kWh in 2011/2012 and to over 65 c/kwh in 2012/2013. The increase, which will be wildly unpopular, will add to inflationary pressures and could limit economic growth and job creation.

Nersa has calcated the impact on inflation as being less than 1,5 percent a year over the three-year period. The regulator based its [continue reading]

Wal-Mart coming to SA

source: Fin24
Feb 26 2010 06:15
Andile Makholwa

Johannesburg – After a “stormy” first half, general goods retailer Massmart Holdings has expressed hopes for a turnaround, saying it expects a rise in second-half profit thanks to improving consumer spending and the effects of trading space rollout.

The group has also confirmed that Wal-Mart will enter SA.

Delivering interim results for the six months to end-December, Massmart CEO Grant Pattison said trading conditions in South Africa have improved over the past eight weeks. The group expects to see recovery in gross margins and profit growth in second-half trading.

That was after the group – whose brands include Game, Dion Wired, Makro and Builders Warehouse – reported a 19.9% fall in headline earnings per share and a 15% decline in operating profit (after foreign currency realisations) over the [continue reading]

source: BOPA
25 February, 2010

Assistant Minister of Presidential Affairs and Public Administration, Mr Mokgweetsi Masisi has told Parliament that all committees needed for the implementation of the Media Practitioners Act were in place, save for the appointment of an appeals committee due to failure by the Law Society to recommend a legal practitioner to serve as the committees chairperson as prescribed in the act.

Mr Masisi was answering a [continue reading]

source: SW Radio Africa
By Tichaona Sibanda
25 February 2010

South African President Jacob Zuma will use his state visit to the UK next week to plead with the British government to remove targeted sanctions against Robert Mugabe and his allies.

Speaking in an interview with the UK Financial Times in Pretoria, Zuma suggested he would be happy even if conditions were set for the removal of the sanctions. He said he was baffled that the targeted sanctions have remained despite there being an inclusive government in place.
“If we were in the shoes of the big countries, I would have said ‘here is an agreement, we are in support of this agreement and lifting sanctions, even conditionally, even for six months to a year, give a chance for this agreement,” Zuma said.

A number of demonstrations against Zuma’s soft stance towards Robert Mugabe have been lined up by [continue reading]