Keletso Joseph Rakhudu

"I do not consider the 20 percent owner’s equity contribution required by some commercial banks to be excessively high. Nor is it a deterrent to acquisition of houses or homes by Batswana."

"The size of the loan against the value of property, the so-called loan to value ratio, of 80 percent, is considered a prudent and safe lending practice, consistent with international norms."

"It must be noted that the recent global financial crisis was, among others, caused by unsecured lending by banks to finance the US housing market. Banks relaxed their lending requirements to meet strong demand for housing."

"Also, it should be noted that the higher the contribution by the borrower, the lower the repayment amount, hence this ultimately becomes a saving for the home owners."

"The provisions of section 11 of VAT as read with the second schedule thereto, provides for the exemption of VAT on some financial services including the granting of loans, negotiating loans, or dealing in loans, as well as the management of loans. What this means is that, the interest charged on the loans is exempt from VAT."

"I therefore believe that the VAT levied on facility arrangement fees on mortgage housing loans cannot deter citizens from acquiring loans to purchase or construct houses."

"As a result, government may be compelled to raise the VAT rate in order to recoup the lost revenue. A higher VAT rate would adversely affect the poor."

"If that were to happen, it would negatively affect tax revenue collection. In this regard, we cannot afford further exemptions from VAT given the limited revenue accruing to government during these times of the worldwide economic recession."

"We believe that technicians for projects in a village like Diphuduhudu should be produced from here."

"They can be trained to do jobs here. In that way, we would be able to cut the chain of poverty in their families and develop the community here as well."

"I am bound to accept the majority decision but I believe that government has no business regulating the media. Part regulation or weak regulation is untidy. The fervour with which the Bill was embraced creates the impression that we have an ulterior motive."

"The Minister was emotionally charged. It was the Bill or nothing. But we wanted her to listen to others nationally and internationally to reflect and introspect why she was receiving so much resistance. She agreed to put the Bill in abeyance to allow further consultation."

"If the media is less than fair or honest then I believe there are ample avenues to address that. I believe that self-regulation of the media is part of the democratic dispensation of Botswana."

"You must identify yourcompetitive niche for differentiatingyour products with nonsubstitutablecapabilities thatwould beat the competition andgive you a competitive edgeto earn above average returns.The use of the Balance ScoreCard should become a must inyour daily business activities tomake better and informed decisions."

"Government looks to theprivate sector to participate indriving socio-economic agendas,which include skills developmentand technology transfer,economic diversifi cation, employmentcreation and povertyeradication. In this regard, Governmentcontinues to facilitateprovision for a conducive businessenvironment to enable theindustry to thrive and becomesustainable in the medium tolong term."

"I urge you to introspect andsee how you can position yourcompanies to take full advantageof these trading opportunities.I know that some of the imminentchallenges your companiesare facing include, lack ofquality control certifi cation andrequired international accreditationor certifi cation and adequateworking capital amongstothers. However, it is eventssuch as Vendors Day that wouldassist you to better position yourcompanies for further markets."

"I acknowledge Batswana are not getting much of what they deserve from the economic activities at stake but I believe we are getting there."

"Local companies are sub-contractors but this is just the beginning."

"Forty seven years (time when the country gained independence) is not a long time, but we have strived much in the expansion of the economic activities of the country compared to other countries."

"Government has over the years embraced citizen empowerment initiatives in its development planning process by implementing specific programmes intended to empower Batswana in the absence of a specific empowerment policy."

"In this regard the sensitization process of the Policy with various stakeholders is being vigorously pursued. Batswana still require the necessary skills and competences to successfully take advantage of economic opportunities and become competitive in the global economy and therefore to have greater ownership, management and meaningful participation in the economy."

"We will continue to coordinate all Citizen Economic Empowerment efforts and make the necessary adjustments if need be."

"We have, as a tripartite body, prioritised in the decent work country programme, four socio-economic features towards the attainment of the National Vision 2016, as well as towards achieving the Millennium Development Goals."