Batswana could get 35% share in BMC privatization

Beef at BMC
Beef at BMC

The privatisation of the Botswana Meat Commission (BMC) could see the reservation of up to 35% in shares for citizens.

The Public Enterprises Evaluation and Privatisation Agency (PEEPA), which is leading the process, is expected to make the recommendation to government when options for the final structure for privatisation are unveiled at the end of August.

“The intention of government has been that for every privatisation, Batswana must have a share,” PEEPA CEO, Ezekiel Moumakwa told Mmegi.

“Government wants Batswana to have that shareholding through the Botswana Stock Exchange, but a number of entities we are privatising don’t quality for that.

“What we plan to advise government, and we have already discussed this, is that when government wants to privatise, that share component must remain in a trust or government, maybe up to 35% or so with a view that the investor buying the entity must turn around the entity within a certain time frame.

“Then those shares must go to Batswana via the stock exchange.”

The options for BMC’s privatisation include investors taking over individual assets such as a single abattoir or taking up the entire organisation.

In previous privatisations government has allocated shares both to citizens and citizen workers of the privatised entity.

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