29 Mar 2017

The decision to embark upon the provisional liquidation of BCL Limited was taken by government as the ultimate shareholder not solely on the basis of advice given by Mineral Development Company Botswana (MDCB), but after consultation with key stakeholders such as BCL Management and workers representatives. This was said by the Minister of Mineral Resources, Green Technology and Energy Security, Advocate Sadique Kebonang in Parliament on Tuesday. Minister Kebonang said proper discharge of due diligence and rules of corporate governance were followed by management and the Board of MDCB in that they availed information available to them to government to make a decision on the future of BCL Limited. He further said a Cabinet task team on the future of BCL was appointed in July 2016 and reported back to Cabinet on several occasions. He also stated that the task team reported back to Cabinet in October 7, 2016 the day which the decision to place BCL under provisional liquidation was made. Specially Elected Member of Parliament, Mr Mephato Reatile had asked the minister if proper discharge of due diligence was done and corporate governance rules followed by the management and MDCB when the government was advised to embark upon liquidation of BCL Limited. ENDS