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KBL ASKS COURT TO SET ASIDE ALCOHOL BAN | The Patriot On Sunday
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Job losses: A growing side effect of Covid 19
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Fresh trouble brewing for Lesotho’s beer industry
MASERU-FOR almost a year, the alcohol industry in Lesotho has been buckling under the massive weight of Covid-19 lockdowns.
Thrice in the last 11 months, the government of Lesotho banned the sale of alcohol in a desperate attempt to deal with the Covid-19 pandemic.
The idea, the government says, was to free up space in hospital wards that would otherwise have been taken up by road accident victims.
Noble as that may have sounded at the time, that decision unfortunately hit the beer industry extremely hard.
At a time when the industry had barely recovered, and was still reeling from the effects of the Covid-19 lockdowns, Finance Minister Thabo Sofonea came up with another shocker: a new 15 percent levy on alcohol sales.
21st February 2021
Sechaba investors are increasingly becoming pessimistic about the company’s future, with some this week sending the brewer’s share price tumbling, concerned about the almost two months alcohol ban imposed by the government.
The shuttered Sechaba Brewery Holdings lost 6.7 percent of its share price in a single week to trade at P18.25, a sign that the shareholders are becoming fed up with the alcohol ban that has forced the company to temporarily close operations. The share price had been resilient despite the alcohol ban that has been in place since the beginning of the year, but on Monday the stock that opened the year trading at P20.65 shed P1.40 from its value, and the following day the share price dropped by a further P1.
7th February 2021
Botswanaâs rate of job creation during 2020 was as slow as its COVID 19 vaccine roll out plan, figures published by the national data agency â Statistics Botswana suggest.
According to the Statistics Botswanaâs Labour Force Module of the Quarterly Multi Topic Survey (QMTS), formal sector employment in Botswana went down from 492,914 in quarter one of 2020 to 477,716 in the last quarter (Q4: 2020). This reflects a decrease of 3.1 percent. The survey further shows that there has been an increase in the number of people eligible to work, but the economy is adding jobs at a slower pace. The data shows that unemployment rate for persons aged 15 years and above went up by 1.3 percentage points, from 23.2 percent in quarter one of 2020, to 24.5 percent in quarter four 2020. The data also shows that the employed population (15 years and above) recorded a decline of 2.4 percent between quarters one (1) and four (4) of 2020, from 751,798 to 733,875 person
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