Carraparel feuds with BITC, threatens to relocate
Friday, November 18, 2016
Carraparel, which is the only local textile and clothing company that has been exporting to the US under the African Growth and Opportunity Act (AGOA), is also complaining of other factors that it says have made doing business in Botswana difficult.
Due to the challenges it says it is facing, the company indicated that it might relocate to the mountain kingdom, which has to an extent been one of the largest beneficiaries of AGOA with around 80% of their textile and garment exports going to the US.
While the political shift brings hope for change, it also places immense pressure on the new administration to deliver on its election promises in the face of serious economic challenges.On another level, newly appointed Finance Minister Ndaba Gaolathe’s grim assessment of the country’s finances adds urgency to the moment. The budget deficit, expected to be P8.7 billion, is now anticipated to be even higher due to underperforming diamond...