Archive for September 9th, 2010

source: Mmegi
Staff Writer

Full body scanners have been installed and additional security personnel deployed at the country’s main aviation gateway, the Sir Seretse Khama International Airport, as part of government’s plans to pre-empt national security risks, a Cabinet Minister has said.

Transport and Communications Minister, Frank Ramsden told Mmegi that the full body scanners could detect wires or metal components, ensuring that no air passengers can carry on or off aircraft, risky items.

“These full body scanners are able to detect wires in bras or metal plates in shoes; we installed them with the new terminal building (at SSKIA).

In this day we are living in a world of terrorism and we have to make sure security is [continue reading]

source: Mmegi
Staff Writer

The Botswana Stock Exchange (BSE) has de-listed DiamonEx Limited, close to 24 months after the Australian company requested suspension of its counter on the local bourse.

DiamonEx, which operated Lerala Diamond Mine prior to its suspension early last year, ran into a financial gridlock following the collapse of diamond prices in the last quarter of 2008.

The diamond price collapse coincided with Lerala’s first production from which DiamonEx directors were expecting to begin recouping their investment and settling creditors.

Yesterday, a BSE notice indicated that [continue reading]

source: News24
2010-09-08 21:22

Cape Town – The notion of ZEE, as opposed to BEE, had President Jacob Zuma flummoxed in the National Assembly on Wednesday.

“Honourable Member, what is CEE? Can you help us?” he enquired of Congress of the People MP Philip Dexter, who had just used the term in a question posed to the president.

“It’s Z… E… E – as in Zuma Economic Empowerment,” Dexter spelled out, to laughter from MPs and Zuma himself.

Earlier, Dexter had asked why relatives of the president and people known to be his close confidantes, as well as business people close to the ruling party, were included in government-led overseas business delegations.

“Have business people from the families of leaders of other political parties been the [continue reading]

source: Mmegi
Staff writer

Medswana has fired two senior executives on allegations that they connived to prejudice the company of hundreds of thousands of pula through shady parallel transactions and business arrangements, Mmegi has learnt.

Medswana is the country’s largest distributor of pharmaceutical, surgical and related products to pharmacies, private doctors, dentists, clinics, hospitals and the Botswana Government.

Information reaching Mmegi says the two executives (names supplied but withheld for now) were fired late last month after they were discovered to have formed a private parallel import company for drug and pharmaceuticals in [continue reading]

source: Fin24
Sep 08 2010 21:05

Harare – Zimbabwe is negotiating R3.25bn in credit from South Africa in an effort to revive the country’s economy, the finance minister said Wednesday.

“There are two facilities that we are negotiating. One is a line of credit of R500m, one is a revival of an old overdraft facility of R2.75bn,” Tendai Biti told business leaders in the capital.

“We are also talking to private capital, the banks,” he said.

Mugabe and his longtime rival Prime Minister Morgan Tsvangirai formed a unity government in February last year, hoping to end a decade of political and economic crisis.

The unity government has appealed for $10bn for reconstruction, but major Western donors have demanded more political reforms before offering direct [continue reading]