RSA to pay Botswana P1bn

source: BOPA
21 April, 2010

WINDHOEK – South Africa is expected to pay Botswana P1 billion following a March ruling by the Southern African Customs Union (SACU) arbitration panel.

The debt was confirmed by Mr Kenneth Matambo, Botswanas finance and development planning minister, in an interview on the sidelines of the ongoing SACU meeting in Namibia.

Botswana, Namibia, Lesotho and Swaziland had complained that South Africa, as the administrator of the SACU tariffs revenue pool, had cheated them in calculating their annual entitlement.

The bone of contention was how the revenue sharing formula as contained in the binding SACU 2002 agreement was applied, and the worlds oldest customs union tribunal ruled in favour of the four countries.

Payment is expected anytime between now and [continue reading]


%d bloggers like this: