Tuesday, April 23, 2024

Farmers’ bid to seize BMC amid financial turmoil

The recent release of the auditor general’s report has ignited fresh deliberations regarding the troubled Botswana Meat Commission (BMC), particularly concerning the potential involvement of local farmers in its operations. Auditor General Keneilwe Senyarelo’s report sheds light on the ongoing financial challenges faced by the BMC, indicating substantial annual losses incurred by both the BMC Group and the Commission itself. These losses, totaling P112 million for the Group and P117 million for the Commission in the current financial period, have raised concerns about the sustainability of the BMC’s operations.

One of the key observations made by the auditors is the BMC’s failure to conduct vetting procedures for customers conducting transactions above the prescribed limit, as well as the absence of a maintained list of customers, a violation of the Financial Intelligence Act. The report also references the BMC’s strategic plan aimed at returning the organization to profitability and sustainability by the year 2024. However, the effectiveness of this plan is now called into question in light of the continued financial losses.

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