BTC Privatisation accelerates after due diligence

Tuesday, December 09, 2008

With a due diligence and transaction structure exercise carried out by the World Bank's International Finance Corporation (IFC) now completed, the privatisation of the Botswana Telecommunications Corporation (BTC) is gathering steam.

"This week marked a major milestone with the Botswana Telecommunications Corporation (Transition) Bill (reaching second reading) in Parliament," said the CEO of the Public Enterprises Evaluation and Privatisation Agency (PEEPA), Joshua Galeforolwe, at a press conference last Friday.

"This bill should provide for the conversion of BTC from a statutory corporation to a public company as well as provide for the allotment of shares for purchase by a Strategic Equity Partner (SEP).

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