Home Money Matters REFLECTING ON 2010


Reflecting Year 2010

This has been a very interesting year. Our politics is becoming very interesting, unions are talking in one voice , the alcohol levy has gone up again in the hope to deter people from indulging. Value added tax has gone up maybe to finally fix potholes and maybe throw in  a toll –gate  or two.

There has not been any salary increment for public servants and the Bank of Botswana reports indicate that consumer spending is on the increase. The government has temporarily ceased recruitment. I am not too sure what is going on with the teachers situation, I can’t seem to make out their position on the matter. One is never sure what is really happening with the Nchindo case or Seretse alleged corruption case but one thing I am sure of is that money does matter. One thing for sure is that once you take money and power from the equation, life becomes pretty simple.

As far as I am concerned, the next 5 years will be fascinating as far as the state of our economy, most importantly at individual levels. The property markets will continue to escalate which makes me wonder what you are still waiting for because if there ever was a chance that the property market will shake –up would be now.

Interest rates have gone down but it can only mean that one can probably qualify for much more in loans but it does not mean that one can  afford certain lifestyle because everything else is rather expensive and one is likely to be paying much more tax on earnings.

However, it does look like people are still buying new cars daily ,changing or moving houses and going on holidays . This is the group I want to associate with provided they accumulate all these legally.  My only problem looking at the trends is that the word legitimate seems to be losing meaning lately. Corruption is at its peak or it’s rather slowly being exposed like never before. One realises that most renowned who’s whos have a double life.  The poor on the other end of the rope are still delusional, believing that the government has answers to their problems. Middle income earners sometimes go into denial mode and start wanting to have what the rich people have without necessarily looking closely at how the other group makes its riches.