Archive for September 28th, 2010

source: Mmegi
Onalenna Modikwa
Staff Writer

SEROWE: Opposition councillors in the Central District Council (CDC) have stated that they agreed in principle to walk out of the recent full council meeting addressed by President Ian Khama and his cabinet.

Addressing a press conference in Serowe Hotel last Friday, over 20 opposition councillors said the walk out by six of them was an agreement from their caucus.

Hence they turned up in large numbers at the confer ence to show solidarity with colleagues who walked out.The opposition councillors from the Botswana Congress Party, Botswana National Front and Botswana Movement for Democracy vowed that they would stage more walk-outs if the ruling party continues to ignore the laid down procedures. They indicated that despite their different party affiliations, they are sending a strong message that the issue of opposition cooperation should be taken to [continue reading]

source: BBC News

A Wal-Mart store in Massachusetts, USA Wal-Mart is expanding into emerging markets

Wal-Mart, the world’s largest retailer, is in talks to buy South African wholesaler Massmart in a deal worth more than $4bn.

Wal-Mart has tabled an offer of 148 rand a share, which values Massmart at about 30bn rand ($4.1bn; £2.7bn)

Declining sales in the US have led to Wal-Mart pushing into emerging markets to maintain growth.

Strong sales in China, Brazil and Mexico helped it to record a second-quarter profit of $3.6bn in 2010.

A firm foothold in Africa would see Wal-Mart add to its expansion plans.

“South Africa presents a compelling growth opportunity for Wal-Mart and offers a platform for growth and expansion in other African countries,” said Andy Bond, executive vice-president of Wal-Mart for [continue reading]

source: allAfrica
Inter Press Service (Johannesburg)
Antoaneta Becker
27 September 2010

London — Irked by accusations that it is the new coloniser of Africa, China is looking to use soft power and historical evidence of its ancient links to the continent to justify its economic embrace of Africa.

Chinese archaeologists have been sent to hunt for a long-lost shipwreck off the Kenya coast to support claims that China beat white explorers in discovering Africa. Meanwhile Beijing is preparing to fund more research on the continent to aid its companies and banks’ quest for expansion there.

Last month saw the launch of the new China-Africa Research Centre under the Ministry of Commerce. The centre’s aim is to “provide a theoretical basis for the Chinese government’s Africa-related decision-makings,” Huo Jianguo, president of the Chinese Academy of International Trade and Economic Cooperation under the ministry said at the opening. It will also provide consultation services for companies with plans to expand their businesses to [continue reading]