SOEs record P485m in losses

Friday, May 08, 2026 | 290 Views |

Weighty challenges: Gaolathe speaks frequently on the need for belt-tightening, but government not only continues to support parastatals that could be privatised, but is also in-sourcing a number of previously outsourced services
PIC: PHATSIMO KAPENG

The extent to which taxpayers are carrying the burden of unprofitable parastatals became clear recently, with the Auditor General estimating that accumulated deficits within a number of State-Owned Entities reached P485.1 million as at March 2023, versus the P15.5 billion in funding they received that year.

Whilst established to ensure cost-effective public service delivery or facilitation, SOEs, also known as parastatals, have become significant weights on the budget, losing hundreds of millions of pula each year, after gobbling billions more for their operations.

The latest Auditor General report indicates that the year to March 2023 was no exception. The accumulated deficits of P485.1 million were up from P483.3 million in the prior year.

Already have an active account? Log in here.

Or Sign up and get unlimited access to premium articles.

soes
ECONOMY

Concerns: The Mares lost 6-0 to Tanzania on Tuesday. PIC: KENNEDY RAMOKONE

The ‘dirty half dozen’ that could trigger a Mares revolution

Mqondisi Dube | 5 m ago

Mares miss out on P100,000 payday

Calistus Kolantsho | 18 m ago

Indisposed Zakhem misses court in P272.3m case

Larona Makhaiza | 18 h ago

We're coming for ministers, PSs, union leaders—Ngakaagae warns

Spira Tlhankane | 2d ago

Ntsima issues challenge

staff writer | 21 h ago

Bard Santner secures a deposit-taking microfinance banking licence

staff writer | 22 h ago

Gov’t, Huawei call for PPPs in skills development

Larona Makhaiza | 23 h ago

Sport journalist embarks on BetExplosion's Live Your Joy journey

Staff Writer | 1d ago

Commitment by DPP to fight corruption welcome

Whilst many citizens put trust in their leaders that they are tackling one of the worst curses that can befall a country, the public has lost trust after all the cases seemed not to go anywhere.As the saying goes, ‘corruption is a cancer that eats away at the fabric of society’; corruption affects effective governance.Corruption affects delivery of services to the public and also crumbles most systems meant to assist citizens who are very...

The Monitor Editor | 13 October 2026

About us

Mmegi is the leading independent source of breaking news, latest news, current
affairs, Politics, Business, Sport, debates, analysis, and entertainment news in Botswana.