Makgato-Malesu Lauds Exponential Citizen Investors
Keikantse Lesemela | Monday September 22, 2014 15:58
The building, named Exponential, was completed in July 2012 at a cost of P78 million and is built on about 10 000 square meters. The Exponential building, currently houses ten tenants.
Speaking during the official opening ceremony, Makgato-Malesu said the opening of this building is worth celebrating, as it is a clear demonstration of the success and commitment of local investors. “This project is a clear example of true enterprise and what collaboration between citizens can do to contribute to the economic development of the country. This project is a testimony that collaboration among Batswana can be successful,” she said.
The property was also built through the funds of 61 citizens without capital from banks or any financial institution. After two years of its completion the value of the building has almost doubled to P122 million.
Makgato-Malesu said it is rare to hear projects of this magnitude without loans and huge debts. “Getting citizens to raise P78 million capital needed to complete the property makes it one of the most commendable business models in the 21st century. We celebrate the hard work and spirit of enterprise. This is a demonstration that prudent management of resources and clear vision can go a long way,” she said.
She explained that the private sector is regarded as the engine of growth because it has the capability to create sustainable employment and economic diversification, therefore the government encourages the cooperative initiatives. “The government can do a great deal in terms of introducing good laws, providing security and improving the service infrastructure but the private sector is vital to growing the economy,” she said.
On his note, Exponential chairman, Dumi Lopang said it is a breath of fresh air to new business owners as they will be located in the hub of the business district. “ What began as an idea has grown into a sold out premier property owned by Batswana,” he said.
The project started as an idea in 2008 from Gulaam Abdulla and Moses Lekaukau.
Lopang said the Exponential’s international standard workspace provides a platform for its occupants to project a professional and ambitious image to grow and branch into new markets.
“Managed on site, the corporate premises ensures that the occupant’s needs are met and attended to, to allow them to focus on their core business and enjoy the luxury of the high class premises,” he said.
He said the 8000 square metres lettable space is fully leased out. Among the tenants includes Botswana Investment and Trade Centre (BITC), Anglo Coal Botswana, Non Banking Financial Institutions Regulatory Authority (NBFIRA), State Bank of India and Minerals Development Company Botswana.