This week, the directors of Solahart Botswana, Felix Chavaphi and Simon Mmonatau, officially received a certificate of ownership from Peo Holdings marking the end of a joint venture, which has been running between the duo and Peo Holdings for three years.
The duo first approached Peo Holdings for a partnership in acquiring and running Solahart Botswana, a company specializing primarily in solar water heating and photo voltage services.
Peo Holdings, a 50/50 shareholding between DeBeers and Debswana, has over the years been one of the providers of partnerships in private equity funds in Botswana helping with the acquisition and running of businesses in Botswana ever since its inception.
Solahart was purchased at a price of P1.1 million from its previous owners and has been running for the past for 15 years. The directors of Solahart managed to clear their P850 000 loan from Peo Holdings and eventually cleared their debt within a period of 3 years as opposed to the 5-year target the company had set for itself.
Peo and the company’s directors teamed up with each injecting P300 000 as equity funds for the company. The money financed the buying of stock, asserts as well as the company’s goodwill brand.
When receiving the certificate, managing Director of Solahart Botswana, Felix Chavaphi, said that his company was greatful to Peo Holdings for helping buy and run the business. He was thankful especially for the resources that led to the acquiring of the company, urging all those interested in doing joint business ventures to knock at Peo Holdings’ doors.
Solahart Botswana sells solar water heaters and photo voltage services, which provide light. The company has attracted interest from big companies like Debswana in the mining sector, farms, the tourism industry and from district councils in remote areas.