Makwinja quits BTCL for BancABC

Brian Benza | Thursday July 10, 2014 16:12

 

BTCL said the retirement of Makwinja is subsequent to a Bank of Botswana  (BoB) directive   barring local banks from electing persons serving in parastatals onto their boards.

Makwinja, who has been the BTCL board chairman since April 1, 2006, sits on the BancABC board. In a telephone interview with Mmegi Business, Makwinja said his decision to retire from BTCL and remain on the BancABC board was factored by the accomplishments that he achieved with the parastatal.

“The Bank of Botswana issued the directive last year and we were given up to May this year to make a decision. In the end, making a choice was very simple for me because I have been with BTC for more than seven years and we have achieved so much during that time. Its time for others to take over,” he said.

BTCL said that Makwinja took over as board chairman when the company was not performing well financially and faced serious billing challenges.

“Under his stewardship, BTCL turned a corner introducing new products and investing in state of the art technology.

“The BTCL turnaround strategy driven by Mr Makwinja paid dividends and in the 2008 – 2009 financial year, the Company recorded a profit. “Revenues continued to surge year on year, eventually hitting the billion pula mark for the first time in the 2010/11 financial year. During the    financial year, 2012/13, records reflect a continuing growth of the Corporation’s revenues and profits.

“Revenues grew by 16% following on growth of 10% in the previous year.   Profit before tax increased by 20% from P237m in 2011/12 to P284m with net profit margin growing to 21% from 20% in the previous year,” read the statement. Under Makwinja’s leadership the company partnered with Government to roll out the Nteletsa Rural Infrastructure Project to bring telecommunications services to marginalised underserved areas.  It was also under his stewardship that BTCL introduced its mobile wing beMOBILE in 2008, which has grown to cover almost 90 percent of the population of Botswana today.

He was also the driving force behind delivering the asset separation and privatisation of BTCL.  The Corporation is now in the final stages of separation of assets between BTCL and BOFINET and in an advanced stage of listing on the Botswana Stock Exchange.  Government will retain 51% of the shares while 49% is reserved for Batswana and Citizen owned companies.

The Company recently re-aligned the organisation to its strategy such that it is  ‘1-Team’ focused on delivering service to customers.  The Corporation is now a Fixed and Mobile and Converged Organisation.

Makwinja’s career in the management field spans over 15 years, including time as the general manager of Orapa and Letlhakane Mines.

He holds a Master of Science Degree in Industrial and Administration Sciences from City University, UK, and a Bachelor of Science in Mineral Exploration (Honours) from the University of Cardiff, UK.

BTCL is yet to announce Makwinja’s replacement.