Over two decades, the Maun-based outlet has drawn repeatedly on Citizen Entrepreneurial Development Agency (CEDA) funding to grow, adapt, and ultimately fortify its service to the local community. The company’s inaugural CEDA loan of P350,000 enabled the pharmacy to open its doors and establish foundational operations. “Our first loan was a lifeline,” Keofentse Bathobakae, the director reflected. “It allowed us to build the premises, secure essential stock, and serve our clientele without delay.” Over the ensuing five years, Portsway demonstrated disciplined repayment capacity, clearing the debt on November 4, 2008. Shortly thereafter, the pharmacy secured a second CEDA facility of P160,000 aimed at business improvements and interior renovations. Bathobakae notes that these capital injections were strategic.
“We used that tranche to upgrade shelving, invest in more advanced dispensing equipment, and train our staff. It was about laying the groundwork for higher service standards,” he said. The loan was repaid by September 28, 2012, underscoring Portsway’s commitment to financial stewardship. Building on the stability achieved in Maun, the company pursued geographic growth in 2014, when CEDA approved a P300,000 loan to open a branch in Gantsi. Initially, welcomed as a promising expansion, the venture was ultimately stymied by abrupt licensing changes introduced by the Botswana Medicines Regulatory Authority (BoMRA). Confronted with new compliance requirements that rendered operations untenable, Portsway closed the Gantsi outlet and redirected revenue from its Maun branch to service the outstanding loan. “We had to make a hard call,” admitted Bathobakae. “Regulatory shifts happen, and we chose to prioritise compliance rather than operate at risk. It taught us to factor policy volatility into our planning.” That loan was finally settled on November 15, 2019, marking the end of a challenging chapter. In the wake of this episode, Portsway turned its focus inward, reinvesting in its core Maun operations. In 2021, CEDA granted P157,000 to fund a backup generator and electronic screening equipment crucial assets in an environment of intermittent power supply. An additional P80,000 from the CEDA Industry Support Facility bolstered working capital, enabling the pharmacy to maintain inventory levels during supply-chain disruptions spurred by global and regional market shifts. “Securing that equipment was a game-changer,” Bathobakae asserts.
