Brite Star deal alive and kicking
Staff Writer | Friday November 24, 2017 13:28
Further to the recent article from the Corporate Communication Director at BITC, who affirmed that they are committed to the project with Brite Star, the company’s Board issued a statement this week reiterating that due diligence processes are still ongoing on their part as well as on government agencies’ side with considerable progress achieved thus far.
The directors of Brite Star have made several visits to Botswana and were in the country last week to make additional progress.
The transaction advisor for Brite Star, local lawyer Adv Efan Khan, said Brite Star has a very good relationship with SPEDU and other Government Agencies, adding that there is a determination to make the deal work on all sides.
The affirmation by the company, which has operations in Europe, Asia and the USA, follows recent reports in the media, which purported that the project had collapsed.
The reports also alleged that Brite Star’s associate company, Magnus has said it will not be investing in Botswana.
“Brite Star has received negative press recently with misleading articles that were cunningly crafted to push newspaper sales.
“The deal has not collapsed ,and the company is continually making efforts to establish its operations in Botswana.
“It is most unfortunate that the Press does not check its facts before misleading the innocent public or alternatively work on a political agenda to stop inward investment into Botswana by multinational companies just before elections.
They should be ashamed of their actions and for failing to verify their facts,” read a statement from the Board.
In previously issued statements, Brite Star stated that they were investing in Botswana in their own capacity, and not through subsidiaries nor sister companies.
“Magnus Aircraft never had intended to invest directly into Botswana, but its co-owner Imre Katona is investing into Botswana. Magnus Aircraft is purely a European-based operation and no one has ever indicated that Magnus was investing into Botswana,”
The Brite Star board also shot down claims that suggested they were seeking funding from State-owned funding institution in Botswan,a saying as a private company they had their own resources.
The company said it has also received excellent support from Botswana Government agencies such as SPEDU, CAAB and BITC, which have displayed tremendous goodwill and encouraged Brite Star to set up its plants in Botswana.
Brite Star, a global aviation group also invested in hospitality and training, plans to invest more than P1.4 billion over the next five years on a 10 hectare plot of land near Selebi-Phikwe Airport, employing up to 3,000 workers.
Attracted by the tax and duty incentives package launched in March for Phikwe, the group plans to develop an aircraft assembly plant, research centre, maintenance workshop, hospitality facilities and pilot training centre. Brite Star, who works on a partnership model in America, Malaysia and Australia and in Botswana, will be seeking local partners.
The group says its recruitment will prioritise former BCL Mine employees and will engage with the Botswana Mine Workers Union.