Alarm raised as unsolicited funding offers to gov't reach US$40bn

Delivering opportunities: Project funding has been hit as a result of COVID-19’s impact. Unsolicited credit bidders want gov’t to take them up on their offers 
PIC: MORERI SEJAKGOMO
Delivering opportunities: Project funding has been hit as a result of COVID-19’s impact. Unsolicited credit bidders want gov’t to take them up on their offers PIC: MORERI SEJAKGOMO

Government has received unsolicited proposals for funding worth a total of US$40 billion with some of the potential funders disguising their offers as grants that will later turn into loans and others demanding impossible guarantees such as a portion of the country’s diamond revenues.

The Finance and Economic Development ministry is not entirely sure why the offers are coming at the pace they are, but it has a few ideas.

“The reasons are not quite clear and some of the proposals were submitted in previous years,” the Ministry said in an emailed response to Mmegi yesterday.

Editor's Comment
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