Monday, October 26, 2020

Prime Time looks to Africa as Botswana gets saturated

Prime Time, the listed property outfit said it has taken a decision to invest in the sub Saharan Africa market because of increased competition in the Botswana space resulting in limited investment opportunities.
Executive Director PrimeTime Property Holdings Ltd, Turnie Morolong said they belief going out to Africa presents excellent investment opportunities for the company.
“We are aware that large South African investors such as Investec, Sanlam, Liberty Properties, RMB, Atterbury and Actis are already active “up Africa”,” he said.
 He pointed out that whilst they tend to seek out the larger investments, Prime Time feel that they are well positioned to find opportunities along the lines of what they do in Botswana which is where their expertise lies.
Morolong revealed that they are looking to invest in countries that display sound and viable opportunities, have a receptive investment climate, stable political environment and positive long term economic outlook.
The identified countries are Mozambique, Kenya although political scene still needs stability, Tanzania, Uganda, Rwanda, Ghana albeit in West Africa it has all the attractive attributes and Zambia.
“We have just successfully concluded the letting of the 5400m2 building to Barclays Bank of Botswana. Some other opportunities have been identified within Botswana and will be continued to be considered albeit cautiously in the light of the economy,” said Morolong.
He stated that South Africa will be considered as well but in a different light due to the maturity of its investment markets.  Morolong added that it is still early days for Angola and Zimbabwe, but no doubt their time will come.
The Prime Time portfolio consists of 21 properties situated in Gaborone, Francistown, Serowe, Lobatse, Ghanzi and Ramotswa, as well as a recent acquisition of two properties in Lusaka and Kitwe in Zambia spread across the retail, office and industrial markets. The number of shareholders has grown to over 1 800, out of which approximately 1 400 are Batswana.
“We believe this was an incredible show of confidence by the public and institutional investors in the strength and superiority of the properties, a standard that PrimeTime has continued to maintain in all its investments subsequent to listing,” said Morolong.
 The property expert emphasized that what should one consider when deciding to invest in either direct or indirect property is the cost, or rather the amount of funds an investor has available to invest.  He observed that the majority of people merely do not have the funds to purchase an entire development, causing collective investment to be the only option available to them in this instance.
He pointed out the second is risk, particularly, the risk of placing an exceedingly sizeable investment into an individual property, or into a small quantity of individual properties, as opposed to spreading the risk via a group investment scheme, which may invest in many different properties, and perhaps even in various territories.

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