Upsurge in parastatals crowds out private sector

No Image

The rapid increase in number of parastatals has been said to be dampening the potential growth of private business in some sectors.

Speaking at the second annual Private Business Growth Awards last week, which were hosted by Grant Thornton in collaboration with Business Botswana, the guest of honour, Charles Tibone said the proliferation of parastatals definitely dampens the growth of private business. He expressed concern that the majority of these parastatals businesses are chronically unprofitable saying they operate on negative returns on investments or on life support from government through subsidies.

“In the private sector an entity that does not deliver positive returns on investments is bound to have a bleak future,” he said. Some of the new parastatals that have been created in the last few years include Botswana Trade Commission, Botswana Oil, Gambling Authority, Companies and Intellectual Property Authority and Botswana Accountancy Oversight Authority (BAOA).  

Editor's Comment
Congratulations Anicia Gaothuse!

The contest had 10 beautiful young girls as finalists and unfortunately only one could wear the crown.The judges picked Anicia Gaothuse. To all those who feel their contestant should have won ahead of Anicia for whatever reason, hardly; the judges found Anicia to be the best among the best, so desist from disrespecting our newly crowned queen on social media or anywhere else, for that matter! Each of the 10 beautiful young women had supporters...

Have a Story? Send Us a tip
arrow up