BDC snaps up stake in Transport Holdings
Pauline Dikuelo | Friday October 12, 2018 12:58
The P149 million deal has the effect of transforming Transport Holdings into a 100% citizen-owned enterprise.
Speaking on Tuesday, BDC Managing Director, Bashi Gaetsaloe said the buyout is part of the Corporation’s strategy of steering the growth of leading industries.
“Our strengthened partnership with TH through this transaction will provide our country with a variety of opportunities including job creation.
“The deal is also purposed to finance growth capital for TH’s African expansion strategy,” he said.
According to Gaetsaloe, TH has demonstrated major growth potential and was competitive enough to penetrate markets beyond Botswana.
“Transport Holdings is one of the projects we will be launching and we can proudly say that this project represents all the major pillars that we seek in a project. It is financially viable and boasts significant blue chip clients. The business is also ready to penetrate the regional market,” he said.
BDC’s investment will finance the further growth acquisition of TH subsidiary Imperilog Botswana, in which minority shareholders hold 30%. Other subsidiaries of Transport Holdings group include Mulbridge Transport and Express Cartage.
Through its subsidiaries, TH provides the full spectrum of transport and logistics services, which include clearing and forwarding, warehousing and consolidation, as well as road transportation of mainly dry goods.
Transport Holdings has been in operation for 25 years, having grown from a three-truck business minnow, into a 193-truck giant with assets of approximately P77 million.