Wednesday, July 24, 2024

G4S Botswana projects 26% increase in pre-tax loss

G4S Botswana, a leading security provider listed on the Botswana Stock Exchange, is grappling with ongoing financial losses as it navigates challenges following the government’s decision to reserve security contracts for majority citizen-owned companies.

In 2021, the government passed the Citizen Economic Inclusion Bill, restricting G4S’s access to the broader security industry in the public sector, now exclusively reserved for fully citizen-owned businesses. This policy also extends to other state-owned enterprises, leading to the termination of longstanding contracts with G4S.

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