Archive for July 20th, 2010

source: Sunday Standard
by Sunday Standard Reporter

In line with expectation, the national year on year inflation fell on the back of washing-off of the impact of Value Added Tax (VAT) and higher electricity tariffs effected earlier in the year.

The Central Statistics Office (CSO) said on its monthly Consumer Price Index (CPI) update that in June 2010, national year-on-year inflation rate stood at 7.7 percent, down by 0.1 of a percentage point from 7.8 percent in May 2010.

Garry Guma, an analyst with Motswedi Securities, said inflation will stabilise between 6 and 8 percent in the long term.

“Looking ahead, although inflation is expected to end the year above the Bank of Botswana medium term objective range of 3-6 percent, it is expected to stabilise at levels between 6 percent and 8 percent due to weaker household disposable incomes and slower growth of [continue reading]


source: IOL
July 20 2010 at 12:26AM

The Public Service and Administration Department said on Monday it would be meeting unions again this week in a bid to avert a potential strike after a deadlock in negotiations some weeks ago.

Spokesperson Dumisani Nkwamba said they were handling the matter on an “urgency basis”.

“We are doing what we can to avert the strike considering matric exams are coming up.

“The minister (Richard Baloyi) plans on having another meeting some time this week with the unions,” said Nkwamba.

He said unions affiliated to the Congress of South African Trade Unions (Cosatu) were still consulting with their members. Most members had so far rejected an offer of a 6.5-percent increase across the [continue reading]

source: SW Radio Africa
By Lance Guma
19 July 2010

Finance Minister Tendai Biti has suggested that ZANU PF leader Robert Mugabe and several of his senior army generals are hanging onto power because they fear prosecution for human rights abuses, once they step down.

Addressing delegates to a meeting organized by the Confederation of Zimbabwe Industries, Biti is reported to have cheekily offered an olive branch saying, ‘let’s tell them that they can leave and not lose their farms or (get) arrested.’ The CZI meeting was organized to review the 2010 mid-term budget statement the Finance Minister had presented to Parliament last week Wednesday.

The suggestion to offer immunity has been made several times in the past with various think tanks, including the International Crisis Group, putting forward the idea. Last year South Africa’s opposition Democratic Alliance joined the fray suggesting a favourable exit strategy for Mugabe was the only way he will ever relinquish power. Some analysts however say it raises the question of who has the right to [continue reading]

source: Sunday Standard
by Prof Malema

Botswana Telecommunication Corporation (BTC) is contemplating the biggest Initial Public Offer (IPO) in the history of Botswana Stock Exchange that is largely geared toward citizen economic empowerment, Ministry of Finance and Development Planning has revealed.

Under the plan, whose final details are still being worked out with key stakeholders—including the corporate advisors, stockbrokers, asset managers and the stock exchange, BTC is planning to list up to 49 percent stake on the BSE.

This will make BTC the trail-blazing telecommunication outfit to list on the BSE and it is likely to get massive support from BSE and citizen punters alike.

“The process of privatizing BTC would be commenced through [continue reading]

source: SW Radio Africa
By Irene Madongo

Coins and notes from other countries will have to be brought into Zimbabwe to relieve the serious shortage of cash, Finance Minister Tendai has announced.

The plans were unveiled as part of Biti’s Mid-Term fiscal policy review statement which he presented to parliament last Wednesday.

“Under the current multi currency regime, the inadequacy of smaller denominations has posed a number of challenges in transactions.

“Treasury will, therefore, be facilitating in the last half of 2010 the importation of foreign smaller denominations and coins,” Biti said.

The government was forced to ditch the Zimbabwean local currency last year in favour of the South African Rand and US Dollar, because the political crisis and economic meltdown caused record-breaking hyperinflation going above 49 billion percent. The government wants the [continue reading]

source: News24
2010-07-19 22:38

Harare – Zimbabwe has set up temporary shelters for scores of its nationals leaving South Africa following threats of attacks on foreigners, an official said on Monday.

“We have put three big tents in Beitbridge, 10 000 blankets, 20 boxes of laundry soap and 1 000 buckets,” Madzudzo Pawadyira, head of the government’s civil protection unit, told AFP.

Beitbridge is the main border crossing to South Africa.

“The same measures have also been put in place in Plumtree to cater for those returning through the Plumtree border” with Botswana, he added.

Scores of Zimbabweans working and living in South Africa are returning home after [continue reading]

source: Sunday Standard
by Reuben Pitse

It is almost a year after the abolishment of the Local Police Service and its assimilation into Botswana Police Service.

But the tribal leaders are now describing the situation as “chaotic” since the departure of the Local Police while, on the other hand, the government says it is busy recruiting court bailiffs to take over the duties of the departed local police.

Some tribal leaders are expressing disappointment after the local police were taken away.
“I wonder why the government decided to abolish local police,” said Kgosi Mmirwa Malema of Babirwa. “Right now there are no people to send to execute court duties.”

He said much of the chaos within tribal offices throughout the [continue reading]