Parliament passes bill to reserve BTC shares to citizens
Friday, August 08, 2014
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.
Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...