BDC TARGETS LONG TERM RETURNS
Botswana Development Corporation (BDC) Managing Director, Cross Kgosidiile said the corporation aims to invest globally in high-return commercial projects, integrating Botswana into the world economy through key partnerships with global economic players.
In the Corporations Published Financial results for 2022, Kgosidiile said as the business world continues to evolve at a rapid pace, it has become increasingly important to adopt forward-thinking strategies that are geared towards maximising long-term sustainable returns. “Key to this transformational approach is our commitment to investing locally in large-scale export-oriented businesses, with a focus on citizen economic inclusion.”
During the year, BDC recorded a loss of P77 million compared to a loss of P106,5 million in 2021. The total income in 2022 increased by 16 percent to P371million compared to P321 million in the prior year. BDC’s primary mandate is to provide and facilitate funding of commercially viable projects and enterprises that contribute towards industrialisation, economic development, and diversification.
Kgosidiile explained that by pioneering industries and unlocking value in untapped sectors across Botswana, BDC is well- positioned to explore the full potential of the country and create opportunities where they have been lagging. “In addition to futuristic aspirations, the Corporation has several key mega projects in its pipeline that are set to contribute significantly to Botswana’s economic growth and diversity.”
During 2022, the Corporation’s interest income grew by 34 percent from the prior year whilst dividend income declined by 48 percent further cementing the corporations shift from equity to debt investments.
He said the projects are not only designed to generate long-term returns for the Corporation but will also bring about significant socio-economic benefits for the people of Botswana. “As such, they are a crucial component of the Corporation’s forward-thinking approach, and their successful realisation will be a huge part of its history of success.”