Elon Musk, it seems, loves nothing more than to spin plates. When most of us might be looking to lighten the load, he's piling on the ambition.
The serial entrepreneur's latest gambit is to fly people around the Moon. Two wealthy individuals have apparently lodged significant deposits with his SpaceX company to make this journey.
We have no idea who they are, just that these space tourists include "nobody from Hollywood".
That Mr Musk should announce his intention to carry out an Apollo 8-like Moon loop should not really be a surprise; such a venture is on the natural path to deep-space exploration and colonisation – his stated end goals.
For sure, his Falcon rockets have been working for some time now and the Dragon capsule has become something of an old hand at shuttling back and forth to the International Space Station (ISS). But the circumlunar project is another step on from robotic cargo runs to low-Earth orbit.
The Falcon Heavy, the much bigger rocket that will be needed, should make its debut this summer.
The crew version of Dragon, with its all-important life-support equipment, is targeted to make its maiden voyage at the end of 2017.
This will be an unmanned test outing; the first flight to the ISS with people aboard is slated for the spring of 2018.
That does not leave much time to configure and adapt systems for the longer, more arduous Moon mission.
The Dragon will need some sort of propulsion and service module (with extra propellants, oxygen, water, etc) to help sustain the required trajectory and the tourists for what will be at minimum a 6-to-7-day journey.
"Back in the Apollo days the outbound journey would usually take between two and three days and the same for the return journey, maybe about a one-week round trip once they leave the Earth," commented Jason Davis from the space advocacy group the Planetary Society.
"It is a little bit different than say putting an astronaut in low-Earth orbit on the International Space Station because your quick return to Earth is no longer an option.
"Once you fire that rocket and head towards the Moon, you can't turn around and go home so you are really kind of on your own for about a week with no-one to come and save you if there is a problem."
Mr Musk says his tourists understand the risks, and that they will receive "extensive training before going on the mission."
The entrepreneur hasn't yet confirmed it, but it's hard to imagine the ticketed passengers would fly without also being accompanied by an astronaut of experience. If there is a problem, having someone aboard with intimate knowledge of the Dragon's workings could make all the difference
Of course, history tells us that everything in space "moves to the right". Timelines are rarely fixed. And SpaceX is not immune in this respect.
The Falcon Heavy is behind on its original schedule; like Musk, we all thought he’d be flying people to the ISS regularly by now; and his recently promised robotic Mars landing has just been pushed back two years. And don't forget the long list of satellite operators who've seen their launches delayed in the aftermath of two Falcon mishaps.
So, don't be surprised if this Moon loop also extends into the future. The really interesting sub-plot, however, is what this all means for the US space agency (Nasa).
It can be no coincidence that its leadership has announced that it will be looking to put people on the maiden flight of the agency’s huge new rocket, the Space Launch System, and its associated crew capsule, Orion.
These systems are currently due to fly in an unmanned test configuration late next year. A Nasa inquiry could now see a way to slip the mission to 2019 and make it a manned outing instead.
This would make for an intriguing comparison. You would have two missions launching almost at the same time, to do essentially the same mission profile around the Moon, except one (SLS/Orion) would have cost billions to get to the launch pad while the other (Falcon Heavy/Dragon) would have cost in the hundreds of millions. Certainly there would be an order of magnitude difference in price.
It is said that President Trump is looking very hard at how to expand commercial space activity during his administration. The Moon missions would give him considerable food for thought.
Musk tweeted: “SpaceX could not do this without Nasa. Can't express enough appreciation”.
But the comparisons are inescapable. And this is a wave we are witnessing.
Jeff Bezos, the founder of Amazon, has been quietly acquiring space credentials through his impressive Blue Origin company. He is building a rocket to rival the Falcon Heavy that he calls New Glenn. He’s even got one on the drawing board that’s bigger still called New Armstrong.
The ambition is the same as SpaceX. So is the cost model. That is, to create something that is considerably cheaper than the public sector can deliver with its burdensome oversight and its (politically driven) distributed manufacturing methods.
After all, it is in part the cost of access to space that has slowed the pace of exploration since the Apollo era.
Mowana Copper Mine in Dukwi will finally pay its former employees a total amount of P23, 789, 984.00 end of this month. For over three years Mowana Copper Mine has been under judicial management. Updating members, Botswana Mine Workers Union (BMWU) Executive Secretary Kitso Phiri this week said the High Court issued an order for the implementation of the compromise scheme of December 9, 2021 and this was to be done within 30 days after court order.
“Therefore payment of benefits under the scheme including those owed to Messina Copper Botswana employees should be effected sometime in January latest end of January 2022,” Kitso said. Kitso also explained that cash settlement will be 30 percent of the total Messina Copper Botswana estate and negotiated estate is $3,233,000 (about P35, 563,000).
Messina Copper was placed under liquidation and was thereafter acquired by Leboam Holdings to operate Mowana Mine. Leboam Holdings struck a deal with the Messina Copper’s liquidator who became a shareholder of Leboam Holdings. Leboam Holdings could not service its debts and its creditors placed it under provisional judicial management on December 18, 2018 and in judicial management on February 28, 2019.
A new company Max Power expressed interest to acquire the mining operations. It offered to take over the Mowana Mine from Leboam Holdings, however, the company had to pay the debts of Leboam including monies owed to Messina Copper, being employees benefits and other debts owed to other creditors.
The monies, were agreed to be paid through a scheme of compromise proposed by Max Power, being a negotiated payment schedule, which was subject to the financial ability of the new owners. “On December 9, 2021, Messina Copper liquidator, called a meeting of creditors, which the BMWU on behalf of its members (former Messina Copper employees) attended, to seek mandate from creditors to proceed with a proposed settlement for Messina Copper on the scheme of compromise. It is important to note that employee benefits are regarded as preferential credit, meaning once a scheme is approved they are paid first.”
A savingram the Ministry of Local Government and Rural Development sent to Town Clerks and Council Secretaries explaining why councilors across the country should not have access to their terminal benefits before end of their term has been revealed.
The contents of the savingram came out in the wake of a war of words between counselors and the Ministry of Local Government and Rural Development. The councilors through the Botswana Association of Local Authorities (BALA) accuse the Ministry of refusing to allow them to have access to their terminal benefits before end of their term.
This has since been denied by the Ministry. In the savingram to town councils and council secretaries across the country, Permanent Secretary in the Ministry of Local Government and Rural Development Molefi Keaja states that, “Kindly be advised that the terminal benefits budget is made during the final year of term of office for Honorable Councilors.” Keaja reminded town clerks and council secretaries that, “The nominal budget Councils make each and every financial year is to cater for events where a Councilor’s term of office ends before the statutory time due to death, resignation or any other reason.”
The savingram also goes into detail about why the government had in the past allowed councilors to have access to their terminal benefits before the end of their term. “Regarding the special dispensation made in the 2014-2019, it should be noted that the advance was granted because at that time there was an approved budget for terminal benefits during the financial year,” explained Keaja. He added that, “Town Clerks/Council Secretaries made discretions depending on the liquidity position of Councils which attracted a lot of audit queries.”
Keaja also revealed that councils across the country were struggling financially and therefore if they were to grant councilors access to their terminal benefits, this could leave their in a dire financial situation. Given the fact that Local Authorities currently have cash flow problems and budgetary constraints, it is not advisable to grant terminal benefits advance as it would only serve to compound the liquidity problems of councils.
It is understood that the Ministry was inundated with calls from some Councils as they sought clarification regarding access to their terminal benefits. The Ministry fears that should councils pay out the terminal benefits this would affect their coffers as the government spends a lot on councilors salaries.
Reports show that apart from elected councilors, the government spends at least P6, 577, 746, 00 on nominated councilors across the country as their monthly salaries. Former Assistant Minister of Local Government and Rural Development, Botlogile Tshireletso once told Parliament that in total there are 113 nominated councilors and their salaries per a year add up to P78, 933,16.00. She added that their projected gratuity is P9, 866,646.00.
A surge in consumer spending is expected to be a key driver of Botswana’s economic recovery, according to recent projections by Fitch Solutions. Fitch Solutions said it forecasts household spending in Botswana to grow by a real rate of 5.9% in 2022.
The bullish Fitch Solutions noted that “This is a considerable deceleration from 9.4% growth estimated in 2021, it comes mainly from the base effects of the contraction of 2.5% recorded in 2020,” adding that, “We project total household spending (in real terms) to reach BWP59.9bn (USD8.8bn) in 2022, increasing from BWP56.5bn (USD8.3bn) in 2021.” According to Fitch Solutions, this is higher than the pre-Covid-19 total household spending (in real terms) of P53.0 billion (USD7.8bn) in 2019 and it indicates a full recovery in consumer spending.
“We forecast real household spending to grow by 5.9% in 2022, decelerating from the estimated growth of 9.4% in 2021. We note that the Covid-19 pandemic and the related restrictions on economic activity resulted in real household spending contracting by 2.5% in 2020, creating a lower base for spending to grow from in 2021 and 2022,” Fitch Solutions says.
Total household spending (in real terms), the agency says, will increase in 2022 when compared to 2021. In 2021 and 2022, total household spending (in real terms) will be above the pre-Covid-19 levels in 2019, indicating a full recovery in consumer spending, says Fitch Solutions. It says as of December 6 2021 (latest data available), 38.4% of people in Botswana have received at least one vaccine dose, while this is relatively low it is higher than Africa average of 11.3%.
“The emergence of new Covid-19 variants such as Omicron, which was first detected in the country in November 2021, poses a downside risk to our outlook for consumer spending, particularly as a large proportion of the country’s population is unvaccinated and this could result in stricter measures being implemented once again,” says Fitch Solutions.
Growth will ease in 2022, Fitch Solution says. “Our forecast for an improvement in consumer spending in Botswana in 2022 is in line with our Country Risk team’s forecast that the economy will grow by a real rate of 5.3% over 2022, from an estimated 12.5% growth in 2021 as the low base effects from 2020 dissipate,” it says.
Fitch Solutions notes that “Our Country Risk team expects private consumption to be the main driver of Botswana’s economic growth in 2022, as disposable incomes and the labour market continue to recover from the impacts of the Covid-19 pandemic.” It says Botswana’s tourism sector has been negatively impacted by the Covid-19 pandemic and the related travel restrictions.
According to Fitch Solutions, “The emergence of the Omicron variant, which was first detected in November 2021, has resulted in travel bans being implemented on Southern African countries such as South Africa, Botswana, Lesotho, Namibia, Zimbabwe and Eswatini. This will further delay the recovery of Botswana’s tourism sector in 2021 and early 2022.” Fitch Solutions, therefore, forecasts Botswana’s tourist arrivals to grow by 81.2% in 2022, from an estimated contraction of 40.3% in 2021.
It notes that the 72.4% contraction in 2020 has created a low base for tourist arrivals to grow from. “The rollout of vaccines in South Africa and its key source markets will aid the recovery of the tourism sector over the coming months and this bodes well for the employment and incomes of people employed in the hospitality industry, particularly restaurants and hotels as well as recreation and culture businesses,” the report says.
Fitch Solutions further notes that with economies reopening, consumers are demanding products that they had little access to over the previous year. However, manufacturers are facing several problems. It says supply chain issues and bottlenecks are resulting in consumer goods shortages, feeding through into supply-side inflation. Fitch Solutions believes the global semiconductor shortage will continue into 2022, putting the pressure on the supply of several consumer goods.
It says the spread of the Delta variant is upending factory production in Asia, disrupting shipping and posing more shocks to the world economy. Similarly, manufacturers are facing shortages of key components and higher raw materials costs, the report says adding that while this is somewhat restricted to consumer goods, there is a high risk that this feeds through into more consumer services over the 2022 year.
“Our global view for a notable recovery in consumer spending relies on the ability of authorities to vaccinate a large enough proportion of their populations and thereby experience a notable drop in Covid-19 infections and a decline in hospitalisation rates,” says Fitch Solutions. Both these factors, it says, will lead to governments gradually lifting restrictions, which will boost consumer confidence and retail sales.
“As of December 6 2021, 38.4% of people in Botswana have received at least one vaccine dose. While this is low, it is higher than the Africa average of 11.3%. The vaccines being administered in Botswana include Pfizer-BioNTech, Sinovac and Johnson & Johnson. We believe that a successful vaccine rollout will aid the country’s consumer spending recovery,” says Fitch Solutions. Therefore, the agency says, “Our forecasts account for risks that are highly likely to play out in 2022, including the easing of government support. However, if other risks start to play out, this may lead to forecast revisions.”