22 Apr 2019

By setting up their own institutional body, the Botswana Institute of Valuers (BIV) intends to facilitate the proper delivery of their mandate and adherence to the highest international standards.

This was revealed in Gaborone recently by BIV general secretary, Mr Donald Mengwe after the first meeting of the governing council since the organisation was registered last March.

Mr Mengwe said through gatekeeping, they intended to ensure their profession was further developed.

“The purpose of the institute is to protect the public interest by ensuring that members observe the highest standards of professional and ethical standards. In this regard you must bear in mind that valuations support a colossal amount of financial activity, so independence, objectivity and consistency are fundamental requirements,” Mr Mengwe said.

Mr Mengwe revealed that early last year a concerned group of professional property valuers took a decision to form a forum which eventually metamorphosed into BIV.

“They wanted a focused platform where the interests of valuers could be adequately addressed considering among others, the challenges and opportunities being brought about by globalisation, the fourth industrial revolution and financial innovation in our liberal market economy, issues of poor regulation of the profession which threatened its viability,” revealed Mr Mengwe.

BIV was formed in 2018 and formally registered in 2019

Mr Mengwe said their membership would be made up of professionals carrying ouvaluations. ENDS