BDC bounces back to profitability

Gaetsaloe
Gaetsaloe

The Botswana Development Corporation (BDC) has snapped a three-year loss-making streak to record a profit for the year ended June 2015, marking the first fruits of its five-year turnaround strategy.

Buoyed by increased revenues, reduced expenses as well as a P60 million injection from subsidiary divestments, the government investment arm registered a profit of P110 million before tax, at company level, from a loss of P67 million in the corresponding period.

 At group level, which factors in the corporation’s approximately 46 subsidiaries, revenues rose 19 percent to P340 million pushing profit before tax to P247 million from P36 million in 2014.

Editor's Comment
Happy Independence!

We are 56 years old and what do we have to show for it? Looking at where Botswana started and where it is today, there are a lot of developments, but whether the developments match the number of years we have enjoyed as a country is a topic for another day.The fact that cannot be denied is we have seen major developments, but we are still lacking in several pertinent areas.Our beautiful country imports almost everything. We import fuel, food,...

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