Wednesday, January 26, 2022

BDC remodeling a pedestal for facilitate future success

The nation’s leading equity and debt financing company as well as short term working capital requirements, the Botswana Development Corporation is continuing to expand its assets portfolio value, a notable strength which has come out clearly in its latest annual report.

The group’s high value and strongly progressive assets portfolio has shown admirable continued growth at a healthy rate, increasing to over P3.09 billion during the group financial year reporting period, which ended in June 2013. To put cherry on top, the group made further equity investments into some of its companies during the year under review, according to the annual report released just recently. Companies it made further equity investments in are Commercial Holdings (Pty) Limited, Coast to Coast (Pty) Ltd, Lobatse Clay Works and Western Industrial Estates.

“In 2013, the corporation’s total assets reached P2.18 billion from P2.07 billion in 2012 while consolidated group total assets grew from P2.8 billion to P3.09 billion,” read the financial report.

BDC will also embark on a new initiative that will lead the corporation and its subsidiaries to a renewed way of doing business for the benefit of the people of Botswana. Once this renewed way of doing business is effected, the corporation shall continue adding more shining stars onto the country’s success stories. Some of these companies are Letlole La Rona Pty Limited, a public listed entity formed through consolidation of the corporation’s previously 100 percent owned properties and empowering citizens with a stake in this top end property market.

The latest addition to the BDC admirable asset portfolio is an iconic 20 storey building to be known as Fairscape Office Park, which is located in Fairgrounds in Gaborone. BDC will be one of the tenants of Fairscape, while the rest of office space taken up by other market players. The iconic building has added tremendous value to the general Gaborone property market, even in the general content of Botswana as a country. The confidence that is evident at the corporation’s office is in part shared out by the new Managing Director, Bashi Gaetsaloe.

“I am confident that the steps we are taking are laying the foundation for our future success,” he noted in the annual report.

His statement is made in the context of the corporation’s remodeling, which has been announced as an initiative geared at looking at ways to break away from the old corporate culture and introduce new ways of working, partnering and executing. The Managing Director further made a resolute note that together with staff, and based on the remodeling initiative the corporation shall undergo, they are not only going to rebuild trust with stakeholders and experts but will also emerge as the leading investment company in Botswana.

“We have a long and difficult journey ahead of us. As with all journeys, ours begins with an honest review of our challenges and shortcomings as well as renewed energy to use these experiences to build a more resilient and prosperous company,” said Gaetsaloe.

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