Mmegi

BTCL pays record dividend to government

Job done: BTCL declared a mega-dividend to government this week
Job done: BTCL declared a mega-dividend to government this week

Botswana Telecommunications Corporation Limited (BTCL) handed over a record dividend payment of P130 million to government this week, which holds majority equity in the listed entity.

The handover represents part of the total P263 million payout to all shareholders, the highest since BTCL’s 2016 listing on the Botswana Stock Exchange. The BTCL recently unveiled results for the year ended March 31 2024 showing a 35% increase in pretax profits to P200 million.

Speaking at the dividend handover, BTCL board chairperson, Mokgethi Magapa, highlighted the company’s strong year, despite challenging economic conditions.

Editor's Comment
Get back what was stolen, and lock the door

That a single private law firm pocketed P6.5 million for just four cases, out of a total P11.1 million paid for 25 matters, reeks of a system that was not merely disorganised but open to abuse.Bayford has taken a welcome first step by telling the Public Accounts Committee the truth. Now he must act decisively to ensure it never happens again and that any money lost to wrongdoing is recovered.The figures are staggering. Whilst ordinary Batswana...

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