Archive for the ‘Botswana’ Category

source: Mmegi
Lekopanye Mooketsi
Correspondent

Moladi, a cost-effective building technology was launched at the Gaborone International Convention Centre (GICC) on Thursday. This is a building technology that has been adopted from South Africa.

Speaking at the launch, one of the representatives of the company, Dithologo Mmile, said the Moladi formwork construction system is an alternative to the conventional “brick and mortar” method of constructing houses.

According to him, it has been shown that with Moladi, the cost of construction can be reduced by 40 percent. Mmile said because housing development typically involve the [continue reading]

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source: Mmegi
BRIAN BENZA
Staff Writer

Shrenuj Botswana, a subsidiary of the Indian diamond giants Shrenuj and Company Group, is set to open Botswana’s first diamond jewellery manufacturing plant, thus putting the country on the road to becoming a regional diamond centre.

In an interview with Business Week, General Manager Kim Lanny said in Gaborone that the P30 million jewellery manufacturing operation at the Diamond Technology Park “will open later this month,” first producing jewelleries for the United States of America (US) market and later for the Southern African region.

“From the 16 DTC Sightholders, Shrenuj Botswana was the last company to start working in Botswana. However, it has become the first to expand through the diamond pipeline (Diamond manufacturing to fully-made jewellery). We are proud of it and I believe it shows our [continue reading]

source: Sunday Standard
by Sunday Standard Reporter
07-11-2010

Tour operators this week angrily blamed the national air carrier for bad representation in the eyes of the travelers as their profits staggered in a year that was expected to have brought a windfall in the regional tourism industry.

“As noted before, perhaps the biggest single challenge the tourism industry faces within Botswana remains the often substandard service rendered by Air Botswana, the only scheduled air carrier allowed to service the tourist in the northern Botswana.

“This situation has been further exacerbated by the discontinuance of the direct Johannesburg/ Maun/ Johannesburg route, occasioned by our Civil Aviation Authority’s refusal to allow foreign-based airlines to compete with Air Botswana on this route thus necessitating an en-route diversion and stop in [continue reading]

source: Mmegi
MBONGENI MGUNI
Staff Writer

The Ministry of Lands and Housing is on the brink of acquiring 6,000 hectares of tribal land on the western outskirts of Gaborone, for the expansion of the capital city.

The land in question stretches from Ledumadumane towards Mmopane and the Sir Seretse Khama International Airport. Negotiations are still underway with affected communities in Ledumadumane, who will be required to relocate to facilitate the various land uses.

Lands and Housing Minister Nonofo Molefhi told Mmegi on Tuesday that it was expected that the various processes necessary to acquire the 6,000 hectares would cost government P360 million.

“This is tribal land and while we do not pay for it, we will compensate those [continue reading]

source: Sunday Standard
by Prof Malema
05-11-2010

African Diamond Plc, the diamond company involved in AK 6 resources, has issued out a scheme of arrangement to shareholders, indicating that it is planning to de-list on both the London and Botswana Stock Exchanges (BSE), before the end of the year.

The move follows what was dubbed a “compelling” offer by Lucara when it proposed to acquire all African Diamonds shares and locking its shareholders into a much bigger company with operations in the southern African region.

The total value of the proposed transaction will be $ 82 million Canadian (US $ 80 million, P 528 million ) —representing a 27 percent upside — based on Lucara price and Canadian dollar exchange rate as at the close of [continue reading]

source: Mmegi
MBONGENI MGUNI
Staff Writer

The Ministry of Lands and Housing and Swedish consultants are in the process of data collection as part of a five-year project to computerise land ownership records, the most comprehensive attempt made thus far.

Efforts to computerise land records and management systems date as far back as 1990 through attempts to automate the Registrar of Deeds, Department of Surveys and Mapping, as well as spreading this to individual land boards.

Challenges have included the substantial information involved, poor record keeping at various levels, insufficient bandwidth for the size of documents to be shared and difficulties involving the appropriate software to be used.

Lands and Housing Minister, Nonofo Molefhi says computerisation would weed out multiple owners of [continue reading]

source: Sunday Standard
by Sunday Standard Reporter
07-11-2010

Wilderness Holdings predicted that tough market conditions will continue in the medium term with bed night demand battered as traditional markets in the U.S and Europe remain affected by the credit crunch.

Unfavourable exchange rates, rising costs and recession in source markets remain some of the challenges for company that operates across the SADC countries.

Andy Payne, Chief Executive Officer of the Botswana Stock Exchange (BSE) and JSE listed company, said down ward pressure on yield was managed well while the business real grew in bed night sales.

“We do not expect much change in some markets. Our source markets (US and Europe) are in a precarious economic situation,” Payne pointed out at the [continue reading]

source: Mmegi
BRIAN BENZA
Staff writer

Construction of the AK6 diamond mine in Boteti is set to take off in the next few months with full commissioning targeted for early 2012.

A statement released this week by joint-venture partners, Lucara Diamonds and African Diamonds, announcing a formal decision to proceed with development of the mine says the companies have received approval for construction and have concluded an agreement with the Botswana Power Corporation (BPC) for bulk power supplies.

Senior staff have been recruited for the AK6 project, including the chief executive, the general manager, the finance manager, the human resources manager, and the [continue reading]

source: Mmegi
GREG KELEBONYE
Staff Writer

Xenophobic sentiments are rising in Mochudi with some tribesman calling for “kick out” of non-Bakgatla government workers such as the police.None of the Bakgatla royals holding fort following the remand of Kgosi Kgolo Kgafela, has condemned the statement.

If some Bakgatla tribesmen have their way, all non-Bakgatla working in ‘enemy offices’ such as the police would be kicked out of the Kgatleng capital of Mochudi. In a highly charged crisis meeting on Saturday to discuss the remand of their paramount chief Kgafela Kgafela, a number of speakers called for the removal of non-Bakgatla police personnel, and no one made any attempt to correct them. Not even members of the royal house who were present. The Bakgatla have said that their chief has been abducted after he was [continue reading]

source: Mmegi
Staff Writer

Zimbabwe’s Deputy Prime Minister Thokozani Khupe is on a four-day official visit to Botswana to learn about how the country handles its mineral revenues.

A Ministry of Minerals, Energy and Water Resources statement says the deputy prime minister will also pay a courtesy call on President Ian Khama, Minister of Foreign Affairs and International Cooperation Phandu Skelemani and Minerals and Energy Minister Dr Ponatshego Kedikilwe. Skelemani confirmed the visit yesterday saying the Zimbabwean deputy premier is not here to discuss political issues. He said that there “isn’t much to discuss” apart from common knowledge that the warring Zanu-PF and Movement for Democratic Change (MDC) have agreed to go for elections next year. She is also expected to [continue reading]

source: Mmegi
BRIAN BENZA
Staff writer

Government is targeting to cut the national budget deficit to P6 billion in the next financial year (2011/12) from this year’s estimated P12 billion as it aims to achieve a balanced budget in the next two years.

The cut translates into six percent of GDP.

After posting deficits since 2008 due to the global economic crisis, Botswana now aims to match its revenues with expenditure by the financial year 2012/13

In an interview on the sidelines of the inaugural Budget Pitso in Gaborone yesterday, the Secretary for Economic and Financial Policy Dr Taufila Nyamadzabo said for the next budget, the government aims to have a ceiling of P6 billion in deficit as revenues improve and expenditure is curtailed. The next national budget will be announced by the Minister of Finance and Development Planning in [continue reading]

source: Mmegi

Botswana has over the years managed to reduce the level of poverty, President Ian Khama told the inaugural Pitso ya go Nyeletsa Lehuma in Mahalapye yesterday.

President Khama said statistics also show that the number of people living below the poverty datum line in Botswana has reduced from 59 percent in 1985/86 to 30 percent in 2002/03.

The percentage is expected to drop even further at the end of this year, he said.

“We await the statistics of Central Statistics Office (CSO) expected at the end of the year to give us the current statistics on poverty,” he added.

Giving an overview, the President said: “It is now 44 years since we attained independence. At the time of independence (in 1966) our country was then classified as one of the 10 poorest countries in the world, but Botswana is now classified as one of the middle-income countries.

So having any percentage of our people living below the poverty datum line is unacceptable.”

The President, who has been criss-crossing the countryside in [continue reading]

source: Mmegi

Failure to resolve a dispute over the lucrative air route between Johannesburg and Maun – the nearest airport to the Okavango swamps – means that neither South African Express nor Botswana Air is flying the route.

Botswana Air’s servicing of this route was terminated from October 1 and it is now only flying from Gaborone, which means that visitors to one of Botswana’s top tourist attractions have to stop off at Gaborone to get there.

South African Express CEO Inati Ntshanga told MPs yesterday that this “sad state of affairs” was due to the failure of negotiations to acquire equal access to the route.

South African Express was granted the right to fly from Johannesburg to Maun last year but this was later denied when Botswana’s aeronautical authority decided it was not ready to cope with a [continue reading]

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: 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]