Archive for October 29th, 2010

source: Mmegi
BRIAN BENZA
Staff writer

The Bank of Botswana (BoB) has once again left the benchmark bank rate unmoved at 10 percent on the back of a favourable inflation outlook.

In its second last sitting of the year on Tuesday, BoB’s Monetary Policy Committee (MPC) proved its commitment to the neutral monetary policy stance where interest rates, which have not changed since the beginning of the year, are kept low in a bid to help the economy rebound from last year’s crisis.

In a statement released by its Head of Communications, Andrew Sesinyi, the central bank says the current state of the economy and assumptions on both the domestic and [continue reading]

source: IOL
October 28 2010 at 01:10pm

The government apparently has no knowledge of what has happened to at least two thirds of cases reported to the National Anti-Corruption Hotline.

Over the six-year period 7529 cases were reported to the hotline, but there had been feedback on only 2717 cases, according to the 9th State of the Public Service Report released in Pretoria.

This meant that for every 100 cases reported, the PSC had received feedback from the department concerned on only 36. It did not know about the other 64.

“The mere provision of feedback to the PSC does not necessarily suggest that allegations have been investigated and that the cases have been closed, but at least it allows the [continue reading]

source: Mmegi
MBONGENI MGUNI
Staff Writer

The country’s diamond exports could top P22.35 billion for the year, representing a seven-and-a-half percent increase on the 2008 figure even though derived from lower annual production, analysts have said.

Yesterday, Capital Securities researchers said the value of diamond exports up to August 2010 were 72 percent of the 2008 total, which is used as a baseline instead of 2009 whose statistics were warped by the recession.

At current trends, Capital Securities expects this year’s exports to eclipse the P20.7 billion for 2008. “Our unofficial forecast that diamond exports will top those of 2008 by at least 7.5 percent is more than supported by industry forecasts of a 10 percent increase,” one researcher said.

“This would firmly re-position diamond revenues as the backbone of [continue reading]

source: News24
2010-10-28 16:33

Cape Town – Zimbabweans staying in South Africa can now apply for birth certificates and ID cards in Pretoria, Johannesburg and Cape Town, the Movement for Democratic Change (MDC) said on Thursday.

It said the concession was announced by Zimbabwe’s consul general Chris Mapanga during a meeting with MDC leaders in Johannesburg this week.

Mapanga could not be contacted for confirmation.

The MDC reported that Mapanga had also said people in Zimbabwe could apply there for replacements of lost birth certificates of relatives in South Africa.

The MDC said the concessions came after its delegation expressed concern over the [continue reading]

source: Mmegi

South Africa’s Treasury said yesterday it would relax exchange controls further, with individuals being allowed to take more money abroad in the latest government attempt to weaken the rand.

At a briefing, central bank Governor Gill Marcus said she would give details next week, but could not estimate how much money would leave South Africa due to the easing of controls.

“The question of the amount that would flow out depends on what people want to do. By the end of next week circulars will go out,” she said.

Following are some of the proposals given by the National Treasury:

“It is proposed that qualifying international headquarter companies be allowed to raise and deploy capital offshore without exchange control approval. This regime will be effective from January 1, 2011 in line with the implementation data for the tax proposals.” “South African emigrants are currently allowed to remit up to [continue reading]