BOSETU acquire BABEREKI house

RyderGabathuse
Staff Writer | Monday May 14, 2012 00:00

 

Situated at the African Mall, Babereki House has for a long time been synonymous with Botswana's labour movement as trade unions affiliated to the BFTU always launched their labour battles from the place. Lately, some trade unions affiliated to the Botswana Federation of Public Sector Unions (BOFEPUSU) are housed there.

BOSETU secretary general, Tobokani Rari said: 'Revenue we earn from members' subscriptions and other revenue streams help us fight for the rights of our members'. Rari added that BOSETU could not have managed to put up with the costly legal battles it has had if it relied on subscriptions alone.

'As a union we have an obligation to come up with financial schemes to rescue our members who are financially burdened through our subsidised schemes. It's only when we have stable financial revenue streams that we can survive,' he said. Rari was reluctant to disclose the cost of the acquisition but The Monitor can reveal that BOSETU parted with a whopping P17.5 million. As to whether BOSETU will change the name of the property, Rari said it would be for the union's board to determine.

'Acquiring such a massive structure on its own will have the propensity of branding BOSETU as a trade union,' said the elated Rari. Reached for comment, BFTU president Allen Keitseng said nothing has been concluded as payment is yet to be effected. He added that BOSETU has not yet been handed keys to the property. Quizzed as to why they sold such an important asset, Keitseng explained that the property was constructed through a loan from the Citizen Entrepreneurial Development Agency (CEDA) and the National Development Bank (NDB) and the BFTU started paying back the loans before the construction of the building was complete.

'This burdened us financially,' he said. He stated that they are selling the property to meet the obligations of the BFTU. He further reminded The Monitor that in the past they had to battle with the NDB over defaulting on their loan payments.  He indicated that they deliberately considered BOSETU's offer without putting the sale in the public domain.

He also insisted on keeping mum about the value of the transaction. Meanwhile, construction of BOSETU's multi-million Pula headquarters in Gaborone, Extension II, is impending.