BDC slips to P3m loss

According to the financials released via the Botswana Stock Exchange on Monday, the BDC fell into losses, from pretax profits of approximately P32 million in the year to June 2021.

“The corporation was faced with adverse market forces which resulted in significant adverse variances in finance costs and valuation impairments of equity investments,” directors said. “With global increases in interest rates, as well as full draw down on approved facilities, BDC experienced an increase in finance costs of 30% during the year.”