Archive for July 26th, 2010

source: Mmegi
Staff Writer

The Ministry of Finance and Development Planning has engaged a consultant from the International Monetary Fund (IMF) as it hammers out contentious reforms to the Income Tax Act, BusinessWeek has learnt.

It is understood the IMF consultant, engaged last week, has submitted a report on a draft prepared by the Ministry and containing the proposed amendments to the Income Tax Act.

The amendments involve plans to discard the current two-tier system and replace it with a single corporate tax rate of 25 percent. They also include reducing the [continue reading]

source: allAfrica
The Nation (Nairobi)
Dorothy Nakaweesi
24 July 2010

Kampala — African leaders have not kept their promises and are failing their citizens, according to a new report released today as Heads of State arrive in Kampala for the African Union summit.

The “State of the Union” coalition is the first of its kind set up to monitor how African governments are delivering on their development commitments — from increasing investment in health care and agriculture to improving human rights and tackling corruption.

Drawing on studies from 10 key AU nations, the report paints a picture of unfulfilled agreements, missed targets, and failure to invest in the development of the continent. Most of the landmark announcements made at previous AU Summits are far from being implemented.

A scorecard issued with the report rated South Africa as the best performer of [continue reading]

source: Mmegi
Staff Writer

The collapse of the Botswana Democratic Party has been so engrossing to the general public that nothing is private anymore.

Like some sort of public letting no one cannot keep their eyes off, the few surviving hard core supporters of the party cannot even afford to exercise some mourning, self consolation or motivation in private.

On Wednesday afternoon, the administrator of the BDP Facebook page, on which the BDP faithful often come to motivate each other amidst the unfolding implosion, put up a new [continue reading]

source: allAfrica
The East African (Nairobi)
Cosmas Butunyi
26 July 2010

Nairobi — As the world celebrates this month’s signing up of the five-billionth mobile phone subscriber, Africa is stepping forward to claim credit as one of the regions that have driven the phenomenal growth over the past decade.

This has been accompanied by economic growth with experts foreseeing even greater development in different sectors, buoyed by the mobile phone technology over the next decade.

From only 16 million subscribers in 2000, the continent now boasts about half a billion subscribers, according to telecommunications firm Ericsson.

The mobile phone has also evolved to take up more roles beyond just making calls and exchanging text messages.

Studies have shown that [continue reading]

source: Mmegi
Staff Writer

The Botswana Power Corporation (BPC)’s envisioned 200-megawatt (MW) solar power station has moved to feasibility study stage, moving the groundbreaking energy project closer to development.

The feasibility study is expected to be complete in 12 months, paving way for project capitalisation by the BPC and its funding partners, construction and eventual commissioning.

The multi-million Pula project has its genesis in a 2006 renewable energy-based rural electrification agreement between the Government of Botswana and the United Nations Development Programme (UNDP). The solar power station is part of a range of [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 [continue reading]

source: Mmegi

Southern African Customs Union (SACU) heads of state and government have agreed that the customs union should be transformed into a vehicle for economic integration capable of promoting equitable development.

Chaired by South African President Jacob Zuma and attended by President Ian Khama, King Mswati of Swaziland, Namibian President Hifikepunye Pohamba and Lesotho Prime Minister Pakalitha Mosisili, the meeting took place in South Africa last week.

The summit was meant to reflect on the achievements and challenges, as well as to deliberate on the future strategic direction of SACU, in view of the recent regional and global developments. According to a [continue reading]

source: Mmegi
Staff Writer

Despite drastic cuts in funding for HIV/AIDS programs by the USA government in most African countries this year, Botswana claims it has not been affected because ‘the budget cut has been minimal’.

A number of African countries are calling on the Barack Obama administration to consider its stance after complaining that the budget cut would results in death of HIV positive Africans.

South Africans recently demonstrated at the USA embassy in Johannesburg condemning the USA’s decision to reduce its budget support for [continue reading]