According to the entity, whose responsibility is to prevent and redress anti-competitive practices in the economy, it incurred a net loss of P13 million for the year ended March 31, 2024 and as of this date, total liabilities exceeded total assets by over P6.6 million. The Authority’s current liabilities exceeded current assets by P4 million. CCA executives stated in recent annual report that it received a P42 million subvention from government and a letter of support from the line ministry promising financial support for the next financial year. “These factors indicate the existence of doubt on the going concern status of the Authority,” executives revealed.
“However, the Authority has received a letter of support from the government of Botswana through the then Ministry of Trade and Industry confirming financial support for the next financial year,” they added. The directors further revealed that the current financial position has impeded the parastatal from implementing its Strategic Plan, which began in 2020. “At the current funding levels, the Authority has not been able to fully implement its Strategic Plan, with almost all the subvention received from the government being eroded by committed costs,” they revealed. “Engagements are therefore ongoing between the Board of Directors and the ministry regarding additional funding to ensure the Authority effectively executes its mandate.
