Connect with us

Business

Kazungula bridge behind schedule

Published

on

The construction of the multi-million Pula Kazungula Bridge across the Zambezi river that started with the laying of a temporary bridge over three months ago is behind schedule, Business Trends learnt recently. 

Ministry of Transport and Communications’ Permanent Secretary, Neil Fitt said the contractor is behind schedule with only a couple of months. “The site offices, staff houses are behind schedule with three months. However, critical parts are the items of the bridge.

The work on the temporary bridge delayed over the delivery of the cranes to the site. We are expecting another set of equipment to come in soon. There are no additional costs that the government will incur in these delays,” Neil clarified. Although the original site started in the Zambian side over three months ago, the ministry’s most senior technocrat indicated that Botswana site was expected to start this week.

Fitt’s political boss, minister Tshenolo Mabeo told this publication that, “the contractor has since put up a catch up plan to ensure that progress is put back on trail. It shows the contractor will be able to catch-up by June/July 2016. He will be able to reach the target indicated in the original programming.” What is behind schedule, Mabeo said was mainly the construction of the staff houses. The minister said the temporary bridge is to facilitate trade between countries before the construction of the main bridge.

The Kazungula Bridge is aimed at facilitating effective trade between Botswana and other Southern African Development Community (SADC) countries through reduced transit time for freight and passengers. The bridge is being undertaken by Zambia and Botswana with financial assistance from Japan International Co-operation Agency and the African Development Bank.

The contractor, Daewoo Engineering and Construction of South Korea is already on site and has employed about 300 workers from both Zambia and Botswana. The project is expected to take four years to complete. The bridge is being constructed at a cost of about P1,4 billion.

Continue Reading
Comments

Business

BSE upgrades online investor access

Published

on

A recent BSE opening bell function.

Botswana Stock Exchange Limited (BSEL) will this year introduce a new clearing and settlement system, as part of efforts to improve operations of the bourse.

Speaking at the seventh opening bell ceremony, Chief Executive Officer, Thapelo Tsheole said the development will help improve liquidity and risk management. In addition, the new settlement system replaces the 2008 system while fast tracking introduction of security borrowing and lending, management settlement guarantee fund, as well as identifiers for companies and instrument.

BSEL has already awarded a contract to a Swedish company to implement the system which is also expected to digitalize Initial Public Offering (IPO), allow electronic voting for listed companies during annual general meetings (AGM) for absent shareholders.

The project, which is expected to take eight months once the two parties sign the deal, is part of efforts to have more online investors access for BSEL. Tsheole also revealed that BSEL website will undergo a revamp this year, allowing it to be more analytic, live feed shares, as they trade.“The tender is already out for the website and mobile application. It is a project that we had hoped to implement last year but because of logistic problems, we could not do it,” said Tsheole.

BSEL further plans to introduce two data display screens at CBD and at the stock exchange.“These will assist with information sharing and keep the market updated,” said Tsheole. Meanwhile, BSEL will not change its Automated Trading System (ATS) until 2022, according to Tsheole.“The system supports our strategy to grow the market and increase the average daily turnover levels to 18.0million per day by 2021,” said Tsheole.

Continue Reading

Business

BSE complies with reporting guidelines

Published

on

Botswana Stock Exchange Limited (BSEL) has become the 5th bourse in Africa to comply and publish Environment, Social and Governance (ESG) reporting guidelines.

The development comes a year after BSEL became a partner exchange of the United Nations Sustainable Stock Exchange (SSE) Initiative.“The BSE made a commitment to publish guidance on ESG Reporting. This commitment has been fulfilled.“

We are the 42nd among the 81 SSE Partner Exchanges globally and the 5th in Africa to do this,” said Kgotla Segwe, Market Development Specialist at Botswana Stock Exchange Limited.
Other stock exchanges that have complied with the SSE initiative on the continent are from South Africa, Nigeria, Morocco and Egypt.

Continue Reading

Trending