BDC assets value tops P3 billion mark

Thato Kala | Thursday July 24, 2014 11:24

BDC said despite a challenging financial year, they were able to record the significant asset value growth. The assets portfolio now sits at over P3.09 billion as at the end of the last financial year, which ended in June 2013.

The report notes that last year the corporation’s total assets reached P2.18 billion from P2.07 billion in 2012.

In addition to this success, BDC made equity investments into some of its companies across different sectors ranging from manufacturing to tourism during the year under review. This, the report said, is in line with its new way of conducting its business mandate, which has been alluded to in the new annual report.

BDC’s new managing director, Bashi Gaetsaloe is confident the new approach will ensure increased levels of success in future.

“I am confident that the steps we are taking are laying the foundation for our future success,” he wrote in the report.

The report further noted that the new business approach was a break away route from the old corporate culture and introduction of working, partnering and executing business undertakings.

However, Gaetsaloe is aware the journey will be challenging, but remains confident the corporation will flourish in coming times.

“We have a long and difficult journey ahead of us. As with all journeys, ours begins with an honest review of our challenges and shortcomings as well as renewed energy to use these experiences to build a more resilient and prosperous company,” he said.

Meanwhile, the corporation recently acquired a high-end property, Fairscape Office Block, a 20-storey building, which is going to be their new base. The new property is located in Fairgrounds in Gaborone.