Archive for October 5th, 2010

source: Mmegi
Monkagedi Gaotlhobogwe
Staff Writer

President Ian Khama celebrated independence in a quiet and reflective style with a visit to the Khama ruins at Mosu near the Makgadikgadi Salt Pans, where his great grandfather ‘Khama The Good’ was born.

There were not many public appearances this time by the president, except the message written to be read at kgotlas across the country on Independence Day.

Little known Mosu used to be the headquarters of the Khamas and villagers claim that the rock used as their throne used to be at the ruins in the 80’s, although it appears to have been stolen. Khama III’s mother is also said to be [continue reading]

source: allAfrica
Financial Gazette (Harare)
Clemence Manyukwe
1 October 2010

Harare — Prime Minister Morgan Tsvangirai will step down as president of the larger faction of the Movement for Democratic Change (MDC) next year in line with the party’s original constitution that allows an incumbent to hold office for a maximum of two five-year terms.

The Financial Gazette can exclusively reveal that the MDC-T has since passed a resolution to the effect that the movement’s third congress – where a new leader would be elected – would only be held after the holding of presidential elections, which both the premier and President Robert Mugabe said would be held next year.

What it means is that the MDC-T leader could be forced to relinquish his party post but still continue to lead government should he win the presidential ballot.

The Prime Minister is said to have confided in some members of his [continue reading]

source: Mmegi

TSX-listed CIC Energy, which was last week thrown into Canadian mining merger and acquisition frenzy with a bid from an unnamed Indian group, may become the target of a bidding war, Salman Partners analyst Mike Plaster said this week.

CIC would not disclose the name of the mystery Indian company that had offered to acquire it for $8,50 a share, or a total of C$450-million, because of a confidentiality agreement.

Plaster said in a research note that it could take a while for any firm offer to materialise, and that there was no guarantee one would, as the Indian conglomerate still had to conduct a due diligence.

“The due diligence work could take at least a month or more, followed by the negotiation of a definitive agreement, which could be another month or more. If an agreement can be reached, a shareholder circular would then be sent out, meaning that [continue reading]