The Botswana Telecommunications Corporation (BTC)’s Annual Report for 2005 ÔÇô 6 was voted the best parastatal and overall best Annual Report in Botswana this year. This was witnessed at the glittery annual PRICEWATERHOUSECOPPERS (PWC) Annual Report prize giving ceremony, held on November 23, 2006.
The Chief Executive Officer of BTC, Vincent T. Seretse upon receiving the Award, said, “We are very proud of this achievement. This endorsement from the financial fraternity cannot be undervalued.
Our goal, as we move towards privatisation, was to be as transparent and informative as possible to all our stakeholders. This will allow them the opportunity to make informed opinions about our business.
Winning this Award is an endorsement that we have achieved this with the document we produced. A new BTC is evolving and this is just one of the many victories we hope to achieve going forward”.
Seretse also indicated that, wining this Award shows the determination, strength of mind, fortitude and grit of BTC to face the future with vigour, gusto and the ability to respond accordingly to the market challenges to ensure sustainable growth. He summarised this with his elaborate citation that.
‘The ultimate measure of a man is not where he stands in moments of comfort and convenience, but where he stands in times of challenge and controversy”.
For over two decades, the competition has been hosted by PWC and supported by BOCCIM . It has over 25 participating organisations from many of Botswana’s Blue chip and parastatals.
Besides wining the award, BTC has a lot to celebrate. BTC’s financial performance for the year ending March 31, 2006 showed good improvements from the previous reporting period. Revenues stood at 685 million pula representing a 7 percent growth. Profits stood at 139 million pula, a significant 17.7 percent improvement.
This is a delighting point in a business with the current performance of BTC in the financial year just ended. This is also testimony that the transformation efforts are clearly starting to yield planned results.
Going forward the BTC has drawn its road map readying itself for privatisation.
BTC is one of Botswana’s oldest parastatal companies and is preparing itself for privatisation and the Annual Report is the key document for investors when assessing a business.