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BITRI and BIH Sign Shareholders Compacts with MIST
BITRI and BIH Sign Shareholders Compacts with MIST

The two parastatals under the Ministry of Infrastructure Science and Technology (MIST), BITRI and BIH, signed Shareholders Compacts with the Ministry recently.

 

The ceremony, held at the BITRI Boardroom saw Honourable Minister Nonofo Molefhi sign the compacts with board Chairpersons of both parastatals under his Ministry. The compacts will create clarity of respective roles for the two institutions, their deliverable as well as what they should have achieved within specific timelines.

 

Speaking before the signing of the compacts the Minister said the compacts will enable government to monitor and collaborate with the two parastatals and their boards. He said this is in recognition that good corporate governance creates trust and transparency which in turn leads to team work and cohesion. “Today we are cementing the mandates as given to the organisations by the government” he said.

 

He further articulated that it is important to have such instruments to delineate between the roles of the board and the management of the organisations as often the roles of the two are blurred and accountability becomes a problem. The Minister said too often in organisations, management does not want to make tough decisions and pushes those decisions to the boards.

 

“These instruments to be signed will help draw parameters and clarify objectives, goals, mission, vision and values. It is an additional weight that the board will put on the Chief Executive Officer and Management to hold them accountable for their mandates. The instruments clarifies that the Board’s role will be strategy and direction while the management is charged with the implementation” he said. He also noted that the Board acts as a Court of appeal when all else fails in the organisational structure. He therefore encouraged that there should be transparency between management and boards so that issues are dealt with appropriately and timeously.

 

The Minister pledged his support to the two organisations to ensure that they carry out their mandates as easily as possible. “Our efforts through the two organisations are designed to diversify the economy to create opportunity for employment, especially to the youth.

 

To the Board members the Minister expressed appreciation for exhibiting dedication to serve the country. “We are most indebted to you for your ability to serve this country. Your selflessness will go a long way to ensure that this country through the two organisations go a long way to the next level in technology and innovation” he said. He thanked the board Chairs for the work so far in directing the two organisations.

 

The BITRI Board Chairperson, Prof Otlogetswe Totolo represented BITRI while BIH was represented by their Board Chairperson, Mr Neo Moroka, who both made commitments to the respective institutions’ obligations and responsibilities as contained in the compacts.

 

The event was graced by BITRI and BIH Board Members, high ranking officials including the MIST Permanent Secretary, Mr Dikagiso B. Mokotedi, Deputy Permanent Secretary Department of Research, Science and Technology, Dr Keoagile Molapong, and Deputy Permanent Secretary Ms Lorato Platjee.

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