BDC Divest From Kwalape Tours and Safaris

Pauline Dikuelo | Monday August 20, 2018 13:25

Celebrating A Golden Moment for Botswana Business_ (Left to Right) - BDC MD B.Gaetsaloe_Dekete Guys Director S. Mpuchane and Kwalape Tours and Safaris Managing Partner M.Khachana

The transaction is part of a broader strategy by BDC to divest from mature industries as well as those sectors that had demonstrated adequate private sector capacity to invest and operate in.

The transfer to Batswana owners offers the company an opportunity to accelerate its development plans, which will include the enhancement of its luxury hospitality offering and expanding the business footprint.

According to the corporation’s managing director, Bashi Gaetsaloe, as an investment company, their strategy is to invest with a clear intention of divesting at the right time and under the right circumstances.

He said at the time of divestment, they intend to sell their shareholding to Batswana, thus increasing their participation in many sectors across Botswana.

“We are pleased to see Kwalape having attained a mature business status as evidenced by its ability to self-sustain in a tough and competitive tourism sector. On the back of our robust corporate governance processes, we ensured all checks-and-balances were followed whilst reviewing prospective investors in order to appoint the right operation to take up our shareholding.

“We believe the profile and projections of this investor would sustain business continuity and open new doors for Kwalape’s growth in the long term. We are confident in Dekete’s vision for the business,” said Gaetsaloe.

Kwalape Tours and Safaris Managing Partner, Milton Khachana said partnering with giants such as BDC helps one grow.

“I appreciate the relationship we have built with BDC over the years and look forward to Kwalape’s next chapter with Dekete Guys,” said Khachana.

In 2007, BDC entered into a partnership with the company, subscribing to 40% shareholding in the company, while the founders remained with a majority 60% shareholding. Kwalape, trading as Kwalape Safari Lodge, is located along the Kazungula-Kasane Road, Kasane in the Chobe District, the tourism hub of Botswana.

The resort offers an extensive bouquet of tourism activities such as boat cruises on the Chobe River, safaris and game drives in the Chobe National Park and tours of the tourist attractions in the region such as Victoria Falls and Livingstone Memorial through strategic partnerships. Kwalape was established in 1999.