14 Oct 2018

Botswana is doing well in servicing her P13 billion debt, says Francistown South’s MP Wynter Mmolotsi.

Addressing a kgotla meeting at Phillip Matante West Ward in his constituency recently, MP Mmolotsi said the country had never failed to make the quarterly and monthly payments on her loans.

Botswana, he said, was currently servicing loans totalling P13 billion borrowed from China, World Bank, African Development Bank and other lending institutions across the globe.

Mr Mmolotsi said the money was being used to finance 40 different projects including the Kazungula Bridge.

On other issues, the MP briefed residents on the Trust Property Control Bill passed by Parliament in its last session.

The bill, he explained, seeks to establish an act to regulate the control of trusts and to provide for related matters.

Mr Mmolotsi pointed out that the absence of a law regulating the property of trusts and foundations in Botswana had opened the door for criminal activities such as money laundering.

The formulation of the bill was prompted by concerns that while some trusts were established with the aim of pursuing a certain mandate they were in fact fronts for money laundering.

Another concern was the increase in the number of trusts and foundations associated with fraud and the swindling of Batswana out of large sums of money, he said.

The bill proposes that all trusts should register with the Master of High Court to ensure accountability as well as auditing of accounts.

MP Mmolotsi encouraged the electorate to register in large numbers during the ongoing voter registration exercise to avoid a last minute scramble.

Residents were also briefed on the reduction of the alcohol levy from 55 to 35 per cent.

For their part, residents welcomed the reduction of the levy

However, while some proposed that the current liquor trading hours be retained, others suggested they be extended.

Responding to suggestions that all offenders be denied bail, MP Mmolotsi said the issue was very tricky because some people were falsely or mistakenly accused and sent to jail for offences they did not commit. ENDS