BMC asks for P300 million bailout

BMC asks for P300 million bailout


Botswana Meat Commission (BMC) has approached government requesting guarantee to cover a P300 million loan with Standard Chartered Bank.

Speaking in parliament on Tuesday, the Finance minister Kenneth Matambo said with farmers being paid after 15 days, this posed a challenged leading to the commission requesting for financing facilities with the bank.

One facility would be used buy cattle while the other is required as a working capital while BMC awaits payment from clients.

Meanwhile, BMC made a loss of P302 million in 2012 and a profit of P30.11 million in 2013.

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