Parliament passes bill to reserve BTC shares to citizens

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Parliament this week passed the Botswana Telecommunications Corporation (BTC) (Transition) (Amendment) Bill 2014. The bill tabled by the Minister of Transport and Communications, Nonofo Molefi seeks to amend the 2008 BTC (Transition) Act.

The amendment makes the BTC employee scheme exclusive to citizens only. The minister submitted the bill under a certificate of urgency because the listing of the BTC Limited in the Botswana Stock Exchange is due on August 22.

He said the bill therefore seeks to ensure the allotment of shares to citizen employees. The 2008 Act opened the allotment of shares to all employees, irrespective of their nationality.

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