Archive for August 9th, 2010

source: Mmegi
MBONGENI MGUNI
Staff Writer

Industry is keeping an ear to the ground with regard to the increasing possibility of a Rand depreciation, which will ease pressure on the Pula reducing the country’s import bill and ease domestic inflation.

Boosted by strong capital inflows, the Rand has gained against the Pula and other hard currencies since last year, strengthening from levels of R10.27 to the greenback in February 2009, to its current R7.31. From February 2009 to February 2010, the Rand rose by 37 percent against the US Dollar, during which period the Pula declined by approximately 12 percent against the Rand.

Over the same period, the Pula has generally firmed against the US Dollar, as a result of the operation of the currency basket against which it is [continue reading]

source: Sunday Standard
by OLIVER MODISE
08-08-2010

The ruling Botswana Democratic Party is being suspected of building a slush fund from the Directorate of Intelligence and Security Services unaccounted money to buy opposition politicians as part of its strategy to stem the tide of resignations.

This comes in the wake of complaints by the Botswana Movement for Democracy (BMD), Botswana Congress Party (BCP) and Botswana National Front (BNF) leaders that the BDP has been trying to lure its MPs with promises of money and cabinet positions.

BMD spokesperson told Sunday Standard this week that the BDP has been trying to induce some of their MPs to cross to the BDP with promises of money and cabinet posts.

“Some of our MPs have been approached; they have been promised cabinet positions and money, but they turned down [continue reading]

source: Mmegi
MBONGENI MGUNI
Staff Writer

De Beers says its sightholders are free to participate in open tenders organised by rival diamond producers, clearing the path for the 16 local cutting and polishing firms.

Firestone Diamonds is soon expected to approach the market with a parcel of diamonds from its BK 11 Mine which commenced production last month, while African Diamonds has also sealed a mining licence empowering it to market its diamonds in the open market.

Market sources recently told BusinessWeek that local diamond manufacturers had been liaising with their international parent companies to determine whether they can participate in [continue reading]

source: IOL
August 08 2010 at 09:34AM

Proposed media regulations in South Africa have raised fears that the government is trying to control news coverage, drawing comparisons to apartheid-era censorship.

The ruling African National Congress is mulling a Media Appeals Tribunal, while parliament is considering the Protection of Information Bill, which media organisations say would hamper investigative reporting.

“The tribunal raises concerns similar to those endured by media during the dark days of apartheid. We don’t want to go back there,” said Press Ombudsman Joe Thloloe.

The media tribunal, first mooted in 2007, would adjudicate complaints on media reports in a bid to make journalists legally accountable, the [continue reading]

source: Sunday Standard
by Kagiso Madibana
08-08-2010

Although they are reportedly in the process of appealing against Lobatse High Court Judge Lashkavinder Walia’s ruling in their previous case, the First People of the Kalahari (FPK) have admitted to losing faith in Botswana’s judiciary system.

Smith Moeti, who is currently studying for a Masters Degree at the University Of Botswana, said that it is evident that like some in the general public, the judiciary system is afraid to go against the government.

Moeti said the judgement came as a surprise to them because they were clearly not forcing the government to do anything for them except grant them permission.

The FPK recently lost a case against the government in which they were denied permission to drill a borehole inside the Central Kalahari Game Reserve (CKGR) at [continue reading]