30 May 2013

Botswana Confederation of Commerce Industry and Manpower (BOCCIM) Executive Director Ms Maria Machailo - Ellis has called for the revival of the Citizen Shareholding Warehouse Company.

Speaking at a seminar on privatisation, Ms Machailo–Ellis said the company, which was set four years ago was meant to  buy shares for the citizens as the country moved towards privatizing some institutions.

“This company was set up over four years ago but all is quite, we haven’t heard anything about its progress ever since it’s set up,” she said.

The company, she said, was meant to create confidence in people and let them know that the process is all inclusive, where all will have shares. She said Batswana need to see the privatization process as legitimate and called for evolution to be done according to the laid down rules.

In order for the process to be successful, she said, people need to be cognizant of the fact that the whole purpose of privatization is to release government officials of the work that they had been doing so that they could concentrate on facilitating and developing processes that are water tight.

Regarding the time taken to move towards privatization, Ms Machailo-Ellis said Botswana is on track, though not moving at the intended speed. She advised that government must not do things in a rush and ignore due processes.

 “BOCCIM is not advocating for a rushed approach that will be tantamount to carelessness, but certain processes and procedures should be followed,” she said.

A lot needs to be done for the process to be completed as privatization will assist assets sitting in public enterprises and the efficiency at which they are utilised to be tripled. She said roles needed to be clearly defined for the process to be more efficient and fluid. The country needs an overarching legislation to empower those who are charged with the privatization process.

For his part, Botswana Manual Workers Union Head of Legal Services, Mr Victor Moupo applauded government for the noble course it took in reserving 49 per cent of the privatised institutions to citizen investors and remaining with 51 per cent. 

Mr Moupo said when implemented the unions would see a complete reversal of the original noble aims of the policy.

Privatization, if not handled properly will ultimately transfer public funds to private foreign hands, he said.

He said Batswana should be encouraged to form companies, be mentored, and given financial assistance as the policy master plan stated.

The only way for Batswana to move away from poverty, Mr Moupo said was to retain employment opportunities and create new opportunities.

The privatisation seminar is an initiative of Standard Chartered Bank Botswana in partnership with Botswana Guardian newspaper aimed to create economic general debates on quarterly basis. ENDS