Monday, July 15, 2024

Office of President halts sale of Debswana houses

The Office of the President is reported to have ordered Debswana to stop its sale of company houses.

Last month, Debswana announced it was selling tens of the company houses located in prime areas in Gaborone and Francistown.

Speculation was rife that the diamond company was trying to raise the much needed cash as part of its recovery programme.

Debswana was hit hard by the recession.
According to close sources, government as a shareholder is reported to be against the decision to sell the houses.
“As far as I am aware that issue is still with cabinet,” Khama’s press secretary, Sipho Madisa, said over the weekend.

He said President Khama had not personally moved to stop the sale of Debswana Houses.

“It is very difficult to say Yes or No,” said Debswana Corporate Communications Manager, Esther Kanaimba, who later confirmed that the houses were no longer up for sale as previously advertised.

“What we have decided to do is to hold on to the houses,” she said, adding that anything else will be decided at a later stage.

Kanaimba said that she was not aware that President Khama was the one who halted the sale of the Houses which are valued into millions.

“We decided it was not the best time for us to sell, we will sell later,” she told the SundayStandard.

The company was to sell a total of 13 houses that make a significant part of its property. While eleven of these houses are in Gaborone, Kanaimba revealed that 2 of the houses were in Francistown.


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