The Botswana Confederation of Commerce Industry and Manpower (BOCCIM) says the fund, which will warehouse shares and other assets from privatised entities, is a good beginning. "This is a very positive step since it will go a long way in facilitating citizen participation in the economy," a statement from BOCCIM's spokesperson Tebogo Rapitsenyane notes. During his budget speech, Gaolathe noted that government has agreed with Botswana Building Society (BBS) to transfer government indefinite shares in BBS to Privatisation Assets Holdings (Pty) Limited. The company, which is wholly owned by Government, was formed as government wants to privatise most of its entities to improve efficiency.
The company was incorporated for the purpose of warehousing shares and other assets from privatised public entities in accordance with the Privatisation Policy for Botswana to set up an Investment Trust Fund dedicated to citizen economic empowerment, said the minister. "The shares and assets shall be held by the company in the interim to enable a gradual disposition to citizens and citizen companies." According to some observers, the fund will avoid a situation whereby the privatised entities fall prey to 'vultures' to the detriment of many Batswana who may not have money immediately. Other points raised by BOCCIM
