4th June 2021
The gap between BotswanaPostâs revenue and expenditure continues to widen, thanks largely to the amalgamation with its sister company – Botswana Couriers and Logistics some three years ago.
The two turned into a single entity after the sole shareholder â Botswana government issued out an instruction for the two entities to amalgamate following the cancelation of a proposed merger between BotswanaPost and another State Owned Entity â Botswana Savings Bank (BSB).
Last week, the companyâs executives came out very clear that going to bed with an insolvent Botswana Couriers in 2018 has resulted in a weakened balance sheet.
As a result, BotswanaPostâs Chief executive officer – Cornelius Ramatlhakwane last week called on for a recapitalization of the company which he said is necessary to strengthen its balance sheet.