BDC offloads more properties

Tuesday, May 24, 2016

BDC intends to dispose 12 percent of its portfolio to fund new ventures

The Botswana Development Corporation (BDC) is offloading property worth P76 million as the state-owned development financial institution continues to restructure its investment portfolio.

In two separate deals with related party, Letlole Larona, BDC is selling residential properties in Gaborone’s leafy suburb of Extension 11 for a consideration of P42 million while a deal for a stake in property in Francistown is also being finalised for P34.6 million.

In a notice, Botswana Stock Exchange (BSE) listed Letlole said the two deals, which are still subject to regulatory and shareholders approval, will boost its balance sheet by P92 million to P779 million, post the transactions.

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