Sunday, May 29, 2022

Molefhe prods parastal boards, management to up game

Government has urged the board of directors of parastatals and their senior management to make right informed decisions based on truthful and adequate information from senior management.

Minister of Transport and Communication, Nonofo Molefhi Molefhi, said that service excellence is the core mandate of the different institutions such as the ministry’s parastatals and their subsidiaries.

He said service excellence is achievable through smooth relations between the boards and senior management.

In his address on Monday at the shareholder compact signing ceremony, Molefhi pointed out that no information should be withheld from the board from the chairperson adding that the boards in their responsibilities as accounting authorities should be conversant.

“As a country through these parastatals we must leverage on competitive advantage. W may have certain capacities which are neighbouring countries have and our neighbours are keen to offer better services than us,” said Molefhi.

He stated papastatals offer specialized services of government adding that though the government services are rendered as part of business they have to be affordable and reach the customers.

He said if the parastatals fail to recognise that the customer will have another alternative and the government would fail in rolling the business.

“As we seek to improve on services delivery we have to align our business and strategic plans and ensure that policy is kept in focus at all times so that we do not depart from our core mandate,” he said.

Molefhi stated that the shareholder agreements will be the basis of the annual use adding that they will assist the different boards of directors in ensuring that CEO and management work very well. He added that the agreements should be kept alive and operational. He also labelled the different board members as volunteers who do national services adding that their seating allowance is far from sufficient compared to the amount of work they do in their capacity as board members.

“Every six months am called to account because I have signed the agreements with the boards. Most of your account to high authority and therefore these agreements will help all of us to ensure that all times you keep track of what the institution is up to.
He pointed out that the responsibility is amongst the board members adding that all parastatal naming them: BOFINET, Botswana Railways BTCL, BOCRA, Botswana Post should account for their actions for the good of the country.

Molefhi explained that government has introduced performance contracting as an instrument for monitoring performance. He added that the shareholder and the BOFINET subscribe to good corporate governance and strive to adhere to the overarching corporate governance principles of fairness, responsibility and transparency.

RELATED STORIES

Read this week's paper