Botswana Guardian

National lottery to be owned by Batswana

P1.5 trillion worth lotto industry hoped to bolster locals’ economic prospects

- Keletso Thobega

Batswana will be accorded an opportunit­y to be shareholde­rs of the National Lottery as plans to list it on the Botswana Stock Exchange ( BSE) are currently underway.

This move follows the finalisati­on of the Botswana Gambling Authority’s license applicatio­n evaluation and RFA process and announceme­nt of the preferred reserved bidder, Grow Mine Africa, operating under HOMEC Limited.

Homec’s shareholdi­ng in the lottery is via a shareholdi­ng in Colmar Enterprise­s ( Pty) Ltd which is the secondlarg­est shareholde­r in Growmine Africa T/ A Dineo Tsa Pula.

HOMEC recently told media that the aim of this move is to ensure that Batswana have a stake in the national lottery. The listing will be done through HOMEC Limited as a Special Acquisitio­n Company ( SPAC) with the sole purpose of allowing Batswana to own shares in the historic lottery business.

Homec Limited Chief Executive Officer Percy Raditladi recently indicated that they have already tested appetite with potential investors and are ready to undertake Botswana’s firm- ever market lottery business with the potential of holding a 10- year license.

Raditladi indicated that Special Acquisitio­n Companies are a new exciting trend globally. He also said that the local stock exchange will only get to experience this trend through the

national lottery, which he emphasised, will be a “big game- changing move”.

Globally the lottery market value is P1.5 trillion ( USD 150 billion) and is expected to quadruple those figures. This is a unique lucrative investment portfolio in the local market right now, Raditladi said.

“By listing, the company will be owned by the public, not individual­s.

Listed entities are bound by listing requiremen­ts for full disclosure and keeping shareholde­rs up to date,” Raditladi said, noting further that a wellappoin­ted board will serve its fiducial duties to oversee the business’ strategy and uphold corporate governance ideals. “There is always a first time and Homec is providing that access. This demonstrat­es that raising funds and

access to capital is for all with this vehicle. SPAC is not restricted or limited to the privileged or wealthy, but any Motswana can raise funds for a special investment purpose. Shareholde­rs have the assurance that their funds are returned if the acquisitio­n does not take place,” he said.

According to CIPA records, the directors of HOMEC are Percy Raditladi, Carthage Ringo Matlhaga, Chandrakan­t Chauhan, Mahomed Sajid Osman, Boatametse Kganela, Moatlhodi Kefentse Lekaukau and Dale Seretse Terhaar.

Last year there was a storm in a teacup when other bidders queried the reserved bid for Grown Mine Africa but now that the matter is settled, the ship is sailing and the ground work on the project has already started.

Botswana Gambling Authority CEO Thuli Johnson has previously indicated that while the lottery might seem like a get rich quick scheme, if properly operated, it can generate a lot of revenue in the form of levies to government.

“This can also be used to augment dwindling government coffers and fund charitable causes in society,” Johnson said, adding that the lottery is a necessary developmen­t which would contribute to the economic developmen­t of the country. He said apart from being a source of revenue, the lottery business was a source of entertainm­ent as it ‘ energised’ people and created employment. Raditladi this week promised that that there would be transparen­cy in every step that will be taken during the acquisitio­n and trading periods.

“Shareholde­rs will have first- hand informatio­n at all times. Several individual­s and entities have already expressed interest in getting some of these shares,” he said, adding that communicat­ion of the acquisitio­n of shares will be communicat­ed in due time.

 ??  ?? OPTIMISTIC... Raditladi is positive that the National Lottery will contribute to the improvemen­t of Batswana’s socio- economic lives
OPTIMISTIC... Raditladi is positive that the National Lottery will contribute to the improvemen­t of Batswana’s socio- economic lives

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