Gov’t seeks P3bn loan from commercial banks

According to a recent Government Gazette notice, the country’s fiscal authorities intend to secure a P3 billion facility from a consortium of local lenders comprising First National Bank Botswana (FNBB), Stanbic Bank Botswana, and Absa Bank Botswana. The facility will require parliamentary endorsement before it can be concluded, in line with statutory requirements governing public borrowing. For too long, the state of many public schools has been a source of shame.

We have all seen the pictures and heard the stories of broken windows, unreliable water and electricity, topped by classrooms that are not fit for proper learning. The establishment of the Education Infrastructure and Management Company Ltd (EIMC) signals that authorities are finally ready to take this problem seriously. We must commend the government for this initiative….