Botswana Export Development and Investment Authority expenditure surges

source: BOPA
04 May, 2007

GABORONE – Botswana Export Development and Investment Authority (BEDIA)s operations for the year ended at March 31, 2006 showed a deficit of P18.59 million as compared to a surplus of P11.21 million in the previous year.

The Auditor Generals Annual Report says the main reasons for the negative results were the increase in total expenditure from P25.04 million to P33.10 million and the reduction in government grants from P26.12 million in the previous year to P5.88 million in the financial year under review.

As at March 31, 2006,the report says the authoritys working capital showed that the current assets amounted to P35.74 million while current liabilities were P5.53 million, giving a net current asset position of P30.21 million.

This is a reduction of P32.29 million in [continue reading]

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