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Government can no longer afford bailouts – Segokgo

Minister of Transport and Communications, Thulaganyo Segokgo, has urged parastatals within his ministry to reinvent themselves so that they can be self-sustainable.

Speaking on Thursday during the signing of shareholder compacts with state-owned ICT organizations which include Botswana Communication Regulatory Authority (BOCRA), Botswana Fibre Networks (BOFINTE), and Botswana Post, Segokgo said the government can no longer afford bailouts, therefore urged these enterprises to become more innovative.

“Every organization has to reinvent itself to become self-sustainable, I call on directors of these organizations to find ways of self-sustaining,” said Minister Segokgo who is also a Member of Parliament for Tlokweng.

Meanwhile, Segokgo said the signing of the agreement between the ministry and these organizations will introduce objectivity in State-owned Enterprises (SoE’s) by documenting mandates and setting performance indicators.

Further, he said the agreement will guide the parties on how to use public resources to achieve economic growth.

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He said the agreement will also be used to measure the economic and social value of activities undertaken by these SoEs.

While he urged these entities to be bold in the process of re-inventing themselves, Segokgo urged them to guard against undue risks.

The Minister said if these organizations do not re-invent, the country will miss a golden opportunity of transforming the local economy from the upper-middle-income to high-income status.

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