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Postman seeks cash bail-out from Gov't | Sunday Standard


4th June 2021
The gap between BotswanaPost’s 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 – 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 – Botswana Savings Bank (BSB). 
Last week, the company’s 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, BotswanaPost’s 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. ....

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Loss making parastatals bog downgraded Botswana


GABORONE,
(CAJ News) – AN economic slump, magnified by the downgrading of Botswana’s long-term local and foreign currency ratings, has made it imperative for the government to diversify its revenue base and stop financial commitments that are draining state coffers.
Such obligations emptying the public purse include some state-owned enterprises (SOEs) beset by poor financial performance.
Botswana has more than 40 SOEs.
The Southern African country has suffered a major blow after the ratings agency, Moody’s, downgraded its long-term local and foreign currency ratings.
The downgrade is from A2 to A3.
“The downgrade to A3 reflects the deterioration in fiscal strength exacerbated by the shock induced by the coronavirus pandemic,” Moody’s explained. ....

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