Former Permanent Secretary in the Ministry of Environment, Natural Resources Conservation and Tourism Elias Magosi has delivered on his promises that he would quit the public service following a fallout with Minister Tshekedi Khama.
The latter heads the same ministry.
It is just a matter of weeks before all eyes and ears turn towards Finance Minister Kenneth Matambo as he delivers the 2017/18 national budget speech. In the face of a yawning deficit, Matambo is expected to announce key decisions that will affect incomes of both the public and private sectors going forward.
In one of its first decisions of the year, the Competition Authority has decided not to approve the acquisition of assets and cession of the main contract belonging to 4Ms Group Holdings (Pty) Ltd by Transport Holdings Ltd.
The standoff between the Council and hawkers regarding area of trading could finally reach a mutual compromise. This newly achieved sweet spot is the result of an innovation introduced by a local advertising, branding and communications company called Blind Vision.
Sunday standard Business Editor, VICTOR BAATWENG picks four of the top shocking business headlines in 2016 that are likely to continue in 2017.
The Minister of Agricultural Development and Food Security Patrick Ralotsia has come strongly in defence of the Integrated Support Programme for Arable Agricultural Development (ISPAAD), insisting the brainchild of President Ian Khama’s social economic programme was well conceived to put under control the country’s faltering food security.
The Morupule A refurbishment and pollution abatement project will be completed within budget.
The project aims at securing a firm generation capacity of 132MW by the end of 2017 through refurbishment of four generating units which were taken out of operation in August 2012.
A project titled, ‘Establishment of a Farmers Network to improve Rangeland Management & Biodiversity Conservation in Botswana’, sponsored by European Union’s Empowerment of Non State Actors (ENSA) and implemented by Cheetah Conservation Botswana (CCB) has just ended.
The Interchange Junction in Francistown currently under construction which is also commonly known as the “spaghetti” will temporarily open for motorists on Monday (December 19, 2016).
Vivo Energy Managing Director Wayne Kingwill is worried that the Botswana petroleum industry has recently been exposed to adulterated fuels.
He made the revelation during a stakeholder meeting at the Francistown Vivo depot last week.
Government could consider partnering with interested parties seeking to venture into the ill-fated BCL mine, with so far international and local investors having expressed interest into the copper-nickel mine that was closed recently.
Domestic economic outlook
The domestic growth rate of 3.5 percent is estimated for 2016 and is projected at 4.1 percent in 2017. In it was projected at 2.6 percent. However, it registered a negative growth of 0.3 percent in 2015, partly due to decline in mineral revenues were recorded at 19.7 percent.
New Central bank governor
The long-serving Bank of Botswana (BoB) employee Moses Pelaelo, who has been one of the two Deputy Governors at the bank, was named the new Governor of the Central Bank, replacing Linah Mohohlo who retired in November.
Botswana Ash Company (BOTASH) is currently advancing efforts to diversify its products. The company which produces soda ash and salt is already looking at manufacturing fertilizers such as potash and phosphorus.
Botswana Ash Company (BOTASH) last week held an Excellence Award Ceremony to recognize its hard working employees. A total number of 38 employees from different departments were given awards in the form of certificates.
The Minister of Mineral Resources, Green Technology and Energy Security Sadique Kebonang told Parliament that government owes Botswana Power Corporation (BPC) P98.6 million.
Enos Banda, A South African born entrepreneur replaces UK national John Burbidge, as Letshego’s Group Chairman, a position which the Pan African financial services outfit says came into effect on November 1 2016.
Lucara, a diamond producing company, announced that its flagship asset in Botswana being Karowe mine has turned up a record turnover since the start of production in 2012.
The Minister of Finance and Economic Development, Kenneth Matambo, says Botswana should not make a big deal out of the Global Financial Integrity Report titled “Illicit Financial Flows from Developing countries 2003-2012” which estimated losses in excess of US$ 856 million by Botswana through illicit financial flows.
National Development Bank (NDB)’s half year financial results for the year ended September 30 2016 registered a loss of P6.2 million contrasting the performance of the corresponding period in 2015 which recorded a profit of P2.4 million.
