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BIUST procurement raises concern

*Auditors worried about business model

*Project costs shoot up to double the initial amount


The 2020-21 Auditor General’s Report released last week has cast doubt on the business model of Botswana International University of Science and Technology (BIUST).

The  concern follows detection of several accounting and procurement malpractices at the country’s second largest university.

BIUST incurred a net loss of P14.58million during the year ended 31 March 2021 and at the same time its current liabilities exceeded its current assets by approximately P135 million.

“The note stated that these events or conditions, along with other matters as set forth in Note 30 of the financial s...

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