29 Jul 2014

Botswana Communications Regulatory Authority (BOCRA) and BotswanaPost on July 28 signed the first ever shareholder compacts ageement with the Ministry of Transport and Communications. 

A shareholder compact agreement is a performance agreement between the shareholder, being the Ministry of Transport and Communications, and the parastatals. The shareholder compact also aligns performance expectations of parastatals, which can be effectively monitored. 

Speaking at the signing ceremony, transport and communications minister, Mr Nonofo Molefhi said many such agreements were still to be signed with other parastatal organisations. 

He said shareholder compact agreements reinforced the relationship between management and the board as well as ensuring harmony between management and the board.

He added that the performance agreements were intended to build a cohesive team of the board and management. The shareholder compact agreement also articulated the strategic intent of the shareholder to the parastatals.

 It also articulated the parastatals strategic objectives, performance indicators and targets. The agreement also outlined the relationship between the shareholder and board to support effective oversight. ENDS