Archive for May 24th, 2010

source: Mmegi
Staff Writer

Botswana has received a US$136 million (P943 million) loan from the World Bank as part finance for the 600 MW Morupule B power stations currently under construction in Palapye.

Morupule B power station is seen as the sustainable long-term solution to Botswana’s power shortages, particularly in the face of the decreasing imports from South Africa.

Speaking at the signing ceremony in Gaborone yesterday, Finance and Development Planning Minister, Kenneth Matambo said the project is of great strategic importance to the country, as it will contribute to the national energy security and spur economic growth, thus improving the [continue reading]

source: Sunday Standard
by Reuben Pitse

The Botswana government has established an agency that will combat financial crimes like terrorism, human trafficking and money laundering.

The new organ, called the Financial Intelligence Agency, will be fully operational by April next year.

It will specifically analyze financial transactions that occur in the country, and also depend on information received from the public or informants.

Ellen Madisa, the Deputy Secretary for Financial Policy in the Ministry of Finance, said on Monday that the agency will not necessarily sniff into people’s bank accounts, adding that the banks will be [continue reading]

source: allAfrica
The East African (Nairobi)
Jenerali Ulimwengu
24 May 2010

Nairobi — It’s the chief, not his cronies.

As they prepared to do the premiere of The Last King of Scotland in Kampala a couple of years ago, I hailed a cab and hurried to evacuate myself from the city centre before Yoweri Museveni and his guests could trap me in another traffic snarl-up.

The young man driving me was all jovial politeness as he related how popular the film, starring the hulking Forest Whitaker, was with the citizens of Kampala and how hundreds of them would throng the theatres to see it.This intrigued me, so I asked the young musajja whether he had known Idi Amin.

No, the lad replied, he had not known the man because Amin had cut and run a year before the cabbie was born, but, yes, he had heard a lot of things about the man who used to call himself the Conqueror of the British Empire.

Naturally, I asked my young friend what kind of [continue reading]

source: Mmegi

Botswana has benefited from a European Union (EU) support programme totalling 70.5 million Euro, aimed at boosting human resource development and mitigating the effects of commodity price flactuations in the country.

Speaking at the celebrations of Europe Day, Head of the delegation of the EU to Botswana and SADC, Paul Malin said there has been increasing cooperation between EU and Botswana.

Alluding to President Ian Khama’s visit to the EU, Malin said; ‘…since the president’s visit we have signed a 60million Euro programme to support the government on human resource development and allocated extra funding to Botswana of 10.5 million Euro to compensate for some of the export losses suffered by [continue reading]

source: Sunday Standard
by Kagiso Madibana

Bakgatla paramount chief Kgosi Kgafela Kgafela last week accused Cabinet Ministers of forgetting their Setswana culture and tradition.

Kgafela said at a recent kgotla meeting in Mochudi that he is mortified by the fact that none of the cabinet ministers, save for Ramadeluka Seretse, supported him when he was facing criticism for flogging Family of God church members recently.

“It seems our leaders have forgotten our Setswana tradition, which clearly states that the chief must be respected,” said Kgafela.

He rubbished allegations that the church members were elders, saying that the pastors who were flogged were just young boys in their late 20s.

“Anyone who disrespects the chief will be flogged. Just like [continue reading]

source: Mmegi
Staff Writer

A newly released De Beers report states that the Government of Botswana earned P3.3 billion from taxes and royalties from Debswana mines last year, approximately 40 percent lower than previous levels.

Released on Wednesday, De Beers’ Report to Society (RtS) 2009 details the diamond giant’s contribution to governments, communities, the environment and its performance across several other non-financial indicators over the year. Before the recession, Botswana, Namibia and South Africa earned P8.4 billion in royalties, taxes and other charges on mines either wholly or 50 percent owned by De Beers. Generally, Debswana accounts for [continue reading]

source: allAfrica
Business Day (Johannesburg)
Siseko Njobeni
24 May 2010

Johannesburg — THE petroleum industry and other key sectors are bracing for disruption after SA’s largest transport union, the South African Transport and Allied Workers Union (Satawu), this weekend rejected Transnet’s latest salary increase offer and vowed to prolong its strike into a third week.

The union said it would lobby for sympathy strikes from other unions which, if successful, could potentially cripple key sectors battling with a two-week backlog.

Of particular concern will be the availability of fuel supplies to the inland areas, 17 days before the start of the World Cup. The continuation of the strike threatens to cause a huge backlog in SA’s freight, fuel and other depots.

Avhapfani Tshifularo, executive director of the South African Petroleum Industry Association , yesterday said while the strike at [continue reading]