Next budget to receive P2.6bn bonus

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The 2012-2013 budget is expected to receive a R2.8 billion (P2.63bn) boost through the release of additional SACU payments, after a recent audit suggested underpayment of members by South Africa, the custom union's administrator.

Annually, SACU's five members share revenues collected under the Common Revenue Pool (CRP). However, for budgetary expediency, the amounts shared are estimates subject to an audit that is carried out later that either requires members to refund CPR or receive an outstanding payment.

This week, BusinessWeek learnt that after three years of refunding SACU for overpayments, Botswana is due to receive a settlement of the adjustment for underpayment from the union. It is expected that the underpayment will be confirmed at a SACU Council of Ministers meeting in December.

Editor's Comment
Women unite for progress

It underscores the indispensable role women play in our society, particularly in building strong households and nurturing families. The recognition of women as the bedrock of our communities is not just a sentiment; it's a call to action for all women to stand together and support each other in their endeavours.The society's aim to instil essential principles and knowledge for national development is crucial. By providing a platform for...

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