BDC offloads more properties
Tuesday, May 24, 2016
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.
While it is widely acknowledged that Khama holds the title of Kgosi, the government’s failure to properly gazette his recognition has raised serious concerns about adherence to legal procedures and the credibility of traditional leadership. (See a story elsewhere in this newspaper.) Recent court documents by the Minister for Local Government and Rural Development, Kgotla Autlwetse, shed light on the intricacies of Khama’s recognition process....