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Shumba turns to low cost power production

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Shumba Energy Chairman Alan Glegg says they continue to focus on low cost of production to drive and sustain power production to supply the regional industrial market as the international market is heading for deficit within three to five years. Commenting on the company’s financial report, Clegg said as the Southern African Power Pool (SAPP) continues to hold a major net deficit of over 30GW and older power plants are closed down, there is a need to cover the deficit.

The report indicates that from 2013 to 2030 electricity demand in South, East and Asian countries increases from 790TWh to 2.210 TWh and this triple demand in electricity will be primarily sourced from coal. Clegg said as the market is heading for a significant deficit within three to five years, prices will be forced upward to potentially unseen levels and highs.

“This development picture mirrors what is required in the Southern African Development Community region and Shumba has created the foundation to be ready to respond to those market needs,” said Clegg.According to the report, regional mineral economy politics led by resource nationalism in Tanzania and South Africa has brought negative impact on prospective risk investment in the sector, affecting the junior resource development company greatly. However the junior resources and energy fuels development market where Shumba resides in SADC have however shown resilience and remains very positive for Shumba energy as certain realisations have kicked in with both Africa’s central policy organisation, the African Union and its operational body, the African Union Commission for Trade and Industrial Development.

“We still need to develop a well planned economic, environmental and social introduction of viable and affordable new energy sources and related storage technologies,” said Clegg adding that this is why Shumba has already embarked on one solar energy project and will in the next period be actively researching other energy fuels, production and storage related investments for potential future diversification and sustainability of the company.

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OLOPENG HEAPS PRAISE ON BSE FINANCE CHALLENGE

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Minister Thapelo Olopeng

Botswana Stock Exchange’s annual finance and investment competition for secondary school students has been applauded by the Minister of Tertiary Education, Research, Science and Technology, Thapelo Olopeng.

The initiative, a capital market awareness tool that has been running for the past seven years, is increasing financial literacy and a culture of investment among young people. The initiative will see the country raise future billionaires through the stock markets. “It is a breath of fresh air to have tertiary students who are financially literate, who can manage their finances,” said the minister.

He urged students to invest even the smallest allowances they earn and have a hassle-free life after university. “Investing on the stock exchange is not only preserved for the rich, but for anyone with a bank account,” said Olopeng.

The minister said the secondary schools finance and investment competition is participation of the private sector in bridging the knowledge divide.Olopeng said the private sector participation augments his ministry’s efforts of providing and building knowledge and innovation through the development and implementation of the policy on tertiary education, research, science and technology to transform the economy from a resource based to a knowledge based.

“In this connection, we will continue to empower our students in order for them to lead better and successful lives which can propel them into the innovation ecosystem,” said Olopeng. BSE Chief Executive Officer, Thapelo Tsheole said the Senior Secondary Schools Finance and Investment Competition, first established in 2013 aims to sensitise and educate the student community about capital markets, with the strategic aim to increase financial literacy and promote a culture of investing at a young age.

The competition is open to all senior secondary schools across the country, including private and public senior secondary schools.

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WE ARE NOT USING DIAMONDS TO KILL ELEPHANTS, THAT’S HOGWASH! – BOTSWANA MINISTER

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Orapa Mine, part of Debswana

Botswana is not using diamonds to kill elephants as alleged by some conservationists after the southern African country announced plans to lift a ban on elephant hunting to address growing conflict between humans and wildlife, a government official has said.

Minister of mineral resources, Green technology and energy security Eric Molale told a mining conference in Gaborone on Monday that the activists were tarnishing the image of Botswana. “That’s hogwash because we as Botswana are [good] conservationists and it is us who worked hard to make sure these elephants [are] brought to the numbers that we do have now,” he said.

“When conflicts arise, it is through consultation, [that we] find out how we can best manage our resources. The people have spoken and we are going to be managing the elephants in the best way that we can.

“We are not culling, we have re-introduced the trophy hunting and if you take 400 elephants per annum for trophy hunting against the 3-5% annual growth rate of the elephant herd that we have…[we are] just barely scratching on the surface.”

Botswana has about 130 000 elephants, the world’s largest population.Molale said Botswana will remain focused on things that are beneficial to the country and will not be distracted by issues spread by people that are not even privy to how things are done in the country.

“We have, however, invited them to come and learn more about what we are doing so they can better understand those important aspects of flora and fauna…”The conflict between humans and elephants had gone up since the ban was introduced in 2014.

Tourism is the second source of foreign income in Botswana after diamonds and conservationists fear that the former will be affected is the government cull elephant.
[Rough and Polished]

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