Wednesday, October 28, 2020

BTC pays out P 29 million dividend to government

The Botswana Telecommunications Corporation (BTC), the country’s sole fixed telephone provider, paid P29.4 million to its sole shareholder, the Botswana government, thanks to rocketing profits recorded in the financial year that ended March this year.

According to the company’s financial statement revenue edged up 8.7 percent to P803.4 million compared to P739.1 million in the corresponding period in the previous year.

The P29.4 million is in accordance with the Ministry of Finance’s directive which stipulates that parastatal companies should pay 25 percent of their profits annually.

However, profits before were jaded compared to the previous period but the balance sheet was with an asset increase of P34.4 million to P1 602 million. On the other hand, net cash from operating activities was P187.2 million, down from P221.5 million last financial year.
The organization said it has embarked on a number of major projects and upgrades to the network, which will ensure that BTC continues to provide world class service as the telecommunication market becomes more challenging. The Trans Kalahari Fiber Optic project is underway and, on conclusion, will link with the East African Submarine System (EASSy) cable project that will assure high speed bandwidth connectivity to the rest of the world.

It also said it has invested profoundly in the data section, with the launch of the Metro Area Network (MAN). This initiative utilizes the fiber optic cables deployed in key business areas to allow for an increase in the type and speeds of connectivity as well as value added services provided to the government and large corporate customers in Gaborone. MAN is the first commercial Multi Protocol Label Switching deployment in Botswana, and it brings a number of additional service benefits to corporate customers who rely on BTC to support their networks.

BTC also continued to support the Government’s initiatives of providing access to rural communities by growing its footprint across Botswana, adding the Tswapong areas that were originally left out of the Rural Telecommunications Project Phase 1.

Earlier this year, the BTC was awarded a service neutral license and, while opening up the markets, presents new challenges to BTC. The Corporation is looking to offer more value added services to an increasingly demanding and sophisticated customer.

RELATED STORIES

Read this week's paper

Alpha Squash Academy fails to retain girls in sports

Alpha Squash Academy founder and coach Koketso Ntshebe says it is difficult to retain the girl child in sports.