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BMC turnaround strategy unveiled
BMC turnaround strategy unveiled
Mogome- Maseko

Business

BMC turnaround strategy unveiled

The cash strapped meat commission has often been financially bailed out by government.

When briefing local media on Wednesday, Maseko said following the appointment of the management company, the phase one turnaround strategy is complete and the report will be discussed by BMC board next week Monday.

“The board of BMC is scheduled to meet on Monday and look into the report and we will come back to Batswana to share with them the direction of BMC,” said Maseko.

While it hasn’t made profits in the past years, the Commission’s troubles have been compounded by the Covid-19 pandemic and according to its Chief Financial Officer, Limited Nkani, BMC made only P86.5 million from January to March.

This is when compared to P133.7 million made during the same period last year.

“P51 million is the European market, which includes Norway, then P22.2 million is South Africa, P10 million is Botswana and lastly P2.9 million is the other markets which is neighbouring countries,” said Nkani.

This means that BMC has lost P47.2 million during the three-month period, which could prove difficult to recoup as the pandemic still ravage the world.

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Meanwhile, Nkani said the Commission currently owes farmers around P35 million having already paid P15 million.

The Commission says it is working round the clock to lessen its turnaround time for payment to farmers to less than the current 21 days.

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