• CHOPPIES VACANCY – ASIAN CHEFAugust 20, 2025
    ASIAN CHEF Description: RelatedPosts CHOPPIES VACANCY – ASIAN CHEF BDC VACANCY- FACILITY OFFICER & BUILDING SUPERVISOR Bank of Baroda- Recruitment We are seeking an experienced Asian Chef with expertise in Chinese, Indian, and fusion cuisine. The ideal candidate will… Read more: CHOPPIES VACANCY – ASIAN CHEF
  • BDC VACANCY- FACILITY OFFICER & BUILDING SUPERVISORAugust 20, 2025
    Botswana Development Corporation is looking for dynamic, zealous, and qualified individuals to submit application for the following positions. FACILITIES OFFICER RelatedPosts CHOPPIES VACANCY – ASIAN CHEF BDC VACANCY- FACILITY OFFICER & BUILDING SUPERVISOR Bank of Baroda- Recruitment Reporting to… Read more: BDC VACANCY- FACILITY OFFICER & BUILDING SUPERVISOR
  • Joint news conference by the President of Russia and the President of the United StatesAugust 20, 2025
    RelatedPosts Joint news conference by the President of Russia and the President of the United States Gaborone poised for economic transformation 5+1 Cooperating Trade Unions boycott DPSM Meeting because of BLLAHWU Presence
  • Gaborone poised for economic transformationAugust 20, 2025
    GCC, BSE signMOU for issuance of municipal bonds Municipal bonds expected to ease financial burden on Govt GORATAONE KGOSIMORE editors@thepatriot.co.bw RelatedPosts Joint news conference by the President of Russia and the President of the United States Gaborone poised for economic transformation Botswana Mining Show coming   … Read more: Gaborone poised for economic transformation
  • Botswana Mining Show coming August 20, 2025
    KITSO RAMONO editors@thepatriot.co.bw RelatedPosts Gaborone poised for economic transformation Botswana Mining Show coming  5+1 Cooperating Trade Unions boycott DPSM Meeting because of BLLAHWU Presence   Progressive Institute, a diversified enterprise with interests in mining, human resources, leadership development, transport,… Read more: Botswana Mining Show coming 
  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders
  • Login
  • Register
Saturday, August 23, 2025
17 °c
Gaborone
21 ° Tue
22 ° Wed
24 ° Thu
26 ° Fri
The Patriot On Sunday
Advertisement
  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders
No Result
View All Result
Cart / $0.00

No products in the cart.

  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders
No Result
View All Result
The Patriot On Sunday
No Result
View All Result
Home Business

SACU contributes 23% of 2019/20 budget

patriot by patriot
January 26, 2021
in Business
242
0
491
SHARES
1.4k
VIEWS
ShareShareShare

Botswana receives a significant portions   of  her income   from the customs  and excise  revenues  sector  mainly  from the South Africa Customs Union (SACU)  which is significantly  becoming  important  in the local economy after gem stones and the tourism sector.

This  was said  by the minister of  Finance  and Economic Development  Kenneth Matambo  when officiating  at  the  24th  governing meeting  of  the World Customs Organisation  (WCO) of East and Southern Africa  in Gaborone organised by Botswana Unified Revenue Services (BURS).

RelatedPosts

Botswana Mining Show coming 

StanChart upbeat on CIB transition

BOSETU disburses P2 million bursaries

The meeting , which  attracted  close to 24 member countries, was  meant  to constructively  seek solutions  to trade imbalances  and create a region  that will facilitate  trade efficiently to ensure  economic  growth and intra -regional trade.

“For the current  financial  year ,we estimate  the contribution  of the Customs collections  to the  government revenue  to  be about  23% of  the  state budget. We are fully aware of the part we have to play as the government to reduce over reliance on the customs revenues. Therefore it is for this reason  that we are pursuing  a number of economic  initiatives  with the view  to enhancing  the level of  investment in the country  therefore  broadening  our domestic  tax base,” said Matambo.

Though Matambo has  reiterated on the need to reduce  reliance on Customs revenue, he has pledged Botswana’s support towards  the World Customs Organisation  agenda  which is to solely advocate  for capacity building amongst  members to use  customs  management  as an effective  tool  for economic development.

“It is with great  pleasure  that most of the countries  which fall  under this organisation   or forum  have recently signed  to the African Continental  Free Trade Agreement,  a platform  which creates  an Africa  wide free  trade area. This will help accelerate economic integration   of the continent with the aim of achieving economic growth therefore reducing and attaining sustainable economic development,” he said.

According to Matambo, agreements such as the African Continental Free Trade Agreement create a single   market for goods and services with free movement of business people and investment therefore accelerating   the establishment of African Customs Union.

“We must acknowledge the central role that customs play in the implementation of these agreements. In addition  economic  integration  experts  advise  that for any economic grouping  to function  one of the  most critical steps  is to simplify  and harmonise  customs systems and  procedures  for participating countries,” Matambo said.

In order  to improve the trading  environment  Botswana  has already passed and enacted new laws  in 2018 which  will ensure customs are  well equipped  to keep up with  current, future developments as well as challenges.

Related

Tags: SACU

Get real time update about this post categories directly on your device, subscribe now.

Unsubscribe
Previous Post

Shedding societal filters!

Next Post

BSE courts Kweneng businesses

Related Posts

Botswana Mining Show coming 
Business

Botswana Mining Show coming 

August 20, 2025
StanChart upbeat on CIB transition
Business

StanChart upbeat on CIB transition

August 19, 2025
BOSETU disburses P2 million bursaries
Business

BOSETU disburses P2 million bursaries

August 15, 2025
Letshego’snet advances hit P14 billion
Business

Letshego’snet advances hit P14 billion

August 13, 2025
Sefalana rakes in P11.2 billion
Business

Sefalana rakes in P11.2 billion

August 4, 2025
REVITALISING OODI WEAVERS
Business

REVITALISING OODI WEAVERS

July 29, 2025
Next Post
BSE courts Kweneng businesses

BSE courts Kweneng businesses

Please login to join discussion
  • CHOPPIES VACANCY – ASIAN CHEFAugust 20, 2025
    ASIAN CHEF Description: RelatedPosts CHOPPIES VACANCY – ASIAN CHEF BDC VACANCY- FACILITY OFFICER & BUILDING SUPERVISOR Bank of Baroda- Recruitment We are seeking an experienced Asian Chef with expertise in Chinese, Indian, and fusion cuisine. The ideal candidate will… Read more: CHOPPIES VACANCY – ASIAN CHEF
  • BDC VACANCY- FACILITY OFFICER & BUILDING SUPERVISORAugust 20, 2025
    Botswana Development Corporation is looking for dynamic, zealous, and qualified individuals to submit application for the following positions. FACILITIES OFFICER RelatedPosts CHOPPIES VACANCY – ASIAN CHEF BDC VACANCY- FACILITY OFFICER & BUILDING SUPERVISOR Bank of Baroda- Recruitment Reporting to… Read more: BDC VACANCY- FACILITY OFFICER & BUILDING SUPERVISOR
  • Joint news conference by the President of Russia and the President of the United StatesAugust 20, 2025
    RelatedPosts Joint news conference by the President of Russia and the President of the United States Gaborone poised for economic transformation 5+1 Cooperating Trade Unions boycott DPSM Meeting because of BLLAHWU Presence
  • Gaborone poised for economic transformationAugust 20, 2025
    GCC, BSE signMOU for issuance of municipal bonds Municipal bonds expected to ease financial burden on Govt GORATAONE KGOSIMORE editors@thepatriot.co.bw RelatedPosts Joint news conference by the President of Russia and the President of the United States Gaborone poised for economic transformation Botswana Mining Show coming   … Read more: Gaborone poised for economic transformation
  • Botswana Mining Show coming August 20, 2025
    KITSO RAMONO editors@thepatriot.co.bw RelatedPosts Gaborone poised for economic transformation Botswana Mining Show coming  5+1 Cooperating Trade Unions boycott DPSM Meeting because of BLLAHWU Presence   Progressive Institute, a diversified enterprise with interests in mining, human resources, leadership development, transport,… Read more: Botswana Mining Show coming 
The Patriot On Sunday

© 2024 Copyright The Patriot On Sunday - Inspired by Search Mart.

Navigate Site

  • About Us
  • Advertise
  • Disclaimer
  • Contact Us

Follow Us

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Login
  • Sign Up
  • Cart
  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders

© 2024 Copyright The Patriot On Sunday - Inspired by Search Mart.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?