No job losses from shell pull out-CA

"On completion these two companies will become part of Vivo Energy, joining the eleven companies that have previously transferred. The final countries that are included in this transaction will transfer to Vivo Energy later in 2012, subject to local regulatory and legal approvals," said Vivo.On final completion of the complete transaction Vivo Energy will operate more than 1300 retail stations across Africa under the Shell brand and will have access to around 1.2 million cubic metres of storage.

MVA Fund crowned best company to work for

Deloitte recognised both FNBB and MVA Fund for achieving a mean-score in excess of the standard of excellence threshold.
In an overall statement, Deloitte said despite the threat of a double dip recession, many organisations were unaware of the gap between "the attitudes and desires of their employees and the talent strategies and practices they have adopted".
"The reality is that rising levels of workforce disengagement combined with increasing turnover intentions, which have built up slowly but steadily during the recession, may in fact impact companies across the very business units that they are relying on to drive growth and innovation," the global financial advisory firm said.
The statement continued: "To compound this situation even further, the general sentiment amongst employees we have surveyed suggests that their employers are not doing a good job at implementing their talent strategies."
Project director, David Conradie said the survey had become an "empirically validated measure of employee experience," adding that many long term participants had incorporated its results into the human capital strategies.
"From an initial benchmarking exercise, now companies get very rich, valuable and granular level detail about their employees and how they view them as employers," he told the Deloitte SA blog.
"At first companies came in interested in how they compared against the market but there has been a shift over the years and many have found this survey to be a successful inclusion in their broader human capital initiatives."
Representatives of this year's survey winners will meet at the annual conference to be held on November 15 at Monte Casino in Sandton, Johannesburg.

Personal Banking - Bancassurance - Tshidiso Funeral Plan - Standard Chartered Bank Botswana

Tshidiso Funeral Plan

Coverage

This is a stand-alone policy

• There is no investment portion.
• Provides life cover for the immediate and extended family.
• It covers the following persons:
  1. Main Life Assured
  2. Spouse
  3. Max of 6 children
  4. Max of 4 parents
  5. Max of 15 extended family members

Features

• Minimum Total premium of P80.00
• Flexible levels of cover
• Equal number of units per group
• Minimum Cover of P10 000.00 for main life
• Covers up to 27 family members
• Transferable to a covered adult member (not Child)
• Automatic premium update of 5% OR optional 10% update.
• Benefits update at 60% of premium update.
• In-built premium waiver on death or disability of main life
• 10% cash back benefit every 5 years
• No medical underwriting

Limitations

• 6 months waiting period on natural deaths.
• No waiting period on accidental death.
• 24 months waiting period on waiver of premium on natural death and disability benefit
• Policy ceases at age 65 if not transferred
• No loans or encashment.
• The waiver of premium on death and disability benefit applies to the main life only
• Waived benefits are payable to the date at which the main life assured would have reached the age of 65.

Waiting Periods

From the date of joining and this applies to the main life assured and any COP that may be added to the policy.

• Increases in cover.
• Reinstatements.

Cash Back Benefits

• Payable every 5 years if policy is in force at the time and W.O.P is not in effect.
• Equals 10% of the premiums paid over the 5 year period (excluding policy fee).

Waiting Periods

• After age 50 before age 65
• Can choose any adult member of the policy
• No changes to the benefits or premium.
  1. Failure to transfer, the policy ceases at age 65 of the main life assured.

Former Botswana Prez Festus Mogae Praises Rawlings

Mr. Mogae said he was convinced that the forthcoming Presidential and Parliamentary elections in Ghana would be peaceful, stating that he had no sense of ‘trepidation’ about the conduct of the process.

“We must agree to disagree in peace,” he stated in a meeting with President Rawlings at his Ridge office on Monday.

The former Botswana leader commended President Rawlings for helping to institute the Fourth Republican constitution, submitting to it twice and handing over after his mandate had expired.

President Mogae who was leader of Botswana from 1998 to 2008 is in Ghana to deliver a lecture on Credible Elections and Governance in Africa under the auspices of the Center for Democratic Development (CDD) on Tuesday, October 9.

Botswana fuel under security escort

While government is leaning on oil companies to increase their rail imports, a snap survey last week suggested a continuing reliance on road transport. "At the moment, the situation is more or less the same because oil companies are receiving fuel by road, road tankers continue to load from the depots in Republic of South Africa under escort," the EAD statement read.

"We will be able to have a complete picture of the levels of use of road and rail by the end of the month, as new diverted rail deliveries are only just beginning to arrive."

The department said by April, 4.3 percent of the country's annual fuel imports were coming via alternative routes through Mozambique and Namibia. "The goal is to have this amount increased to at least double. Efforts to procure fuel from alternative routes by the oil companies are well underway," the statement said.

Meanwhile, weekend media reports from South Africa painted an increasingly dark picture of the strike by South African drivers. Business Day quoted trade union leaders as saying they intended to intensify their actions to force a concession from employers.

"We are talking to our members in the ports and rail sectors to join in a secondary strike. Import and export at ports will be shut down," South Africa Transport and Allied Workers' Union secretary-general Zenzo Mahlangu was quoted as saying.

Australian Copper Producer With Mines in Botswana Eyed by China

Australian copper producer Discovery Metals Ltd., which has mines in Botswana, is being eyed for acquisition by Chinese private equity firm Cathay Fortune Corp. for A$830 million ($848 million).

The Chinese firm, which currently controls 13.7 per cent of the ordinary shares of Discovery Metals, offered A$1.70 a share in cash for the remaining stock that it does not own yet in Discovery. The bid, which is 17 per cent higher than Discovery's closing price on Oct. 3, would mean that Cathay Fortune would take up 75 per cent of the copper producer, while the China-Africa Development Fund the remaining 25 per cent.

Sub-Saharan Africa Seeks Affordable, High-Quality Mining and Oilfield Water Treatment Chemicals, Says Frost & Sullivan

"Direct linkages between suppliers of water and wastewater treatment chemical suppliers and end users, without relying on middle-men, can reduce the likely bottlenecks which could result from delays in the supply chain," said Zingoni. "The direct link with suppliers enables end users to obtain treatment chemicals which are customised to be able to treat the water and wastewater used and discharged by the mines and oil wells."

Linkages between local producers and distributors with international corporations will, moreover, enable access to well-developed technologies. Proximity to end users will also be important in order to provide effective support services.

"Price and quality will be the key considerations for end users in the SSA markets," concluded Zingoni. "The provision of high-quality products and services at affordable prices will also help companies establish brand loyalty and capture market share."

Africa needs China's positive investment, says Botswanian expert

"I don't agree that China's investment in Africa is something to do with 'new colonialism' or 'pillage of natural resources.' It is more economic rather than political," Jefferis said.
It is a natural response of capital to the chances of market, he said.
Recent years saw rapidly growing economic activities between China and Africa, and statistics show trade volume between China and Africa stood at 166.3 billion U.S. dollars in 2011, up 83 percent from 2009.
And in 2011 China's direct investment in Africa jumped 60 percent to 14.7 billion dollars from 2009.
Jefferis said African countries need investment to improve their infrastructure and markets for their natural resources.
"China's demand for commodities has reversed the long-term decline in global commodity prices -- to Africa's enormous benefit. Export volumes are up -- but export values are up even more," he said.
Jefferis said Africa has benefited from Chinese-led commodity "super-cycle" by exporting expensive commodities and importing cheap goods.

Ormil Energy expands Botswana petroleum portfolio

Ormil Energy (ASX: OMX) continues to expand its Botswana petroleum acreage with the award of a new exploration licence covering 23,700 square kilometres in the Ngamiland and Central districts.