Home » Business » Business Briefs 15.02.2013

ANTI CORRUPTION
HUB ON THE CARDS

The Commonwealth Secretariat in collaboration with the Directorate on Corruption and Economic Crime is establishing an Anti-Corruption HUB in Botswana. 

The rationale behind the initiative is to launch Botswana as the regional Anti-Corruption Hub ahead of a joint training initiative between Commonwealth, United Nations Development Program (UNDP) and the Directorate on Corruption and Economic Crime (DCEC) on the measurement of corruption.

This opportunity allows anti-corruption agencies across Africa to strengthen relationships with each other.

The initiative will be launched at Gaborone Sun on February 25th and Vice President Dr Ponatshego Kedikilwe is expected to officiate at the event.

 

INTEREST RATES UNCHANGED 


The central bank has again left its interest rates unchanged at 9.5 percent. 

It says the current state of the economy, assumptions on both the domestic and external economic outlook and the inflation forecast, suggest that maintaining the interest rates is consistent with the achievement of the bank’s 3 to 6 percent inflation objective in the medium term.

The Bank of Botswana says inflation was constant at 7.4 percent in November and December 2012, and this is indicative of offsetting pressures on prices.

TRADERS CAUTIONED

Trade Minister, Dorcus Makgato-Malesu has cautioned local entrepreneurs to desist from selling their trading licenses to foreigners. 

Addressing the media this week in Gaborone where she was briefing them on delivery of her ministry on its mandate, Malesu noted that Batswana have developed a trend of selling their general dealer licenses to foreigners.

She noted that such businesses are restricted to Batswana nationals only. She says those caught out usually claim that the foreigners are their business partners.

Malesu added that her ministry not only revokes the licences of those found guilty of the offence, but they also face a 10 thousand Pula fine.


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