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COVID-19 dampens Turnstar’s African growth ambitions

Wednesday, July 21, 2021 | 230 Views |

Looking within: Turnstar is focussing on Botswana for revenue growth

The country’s largest listed property company in terms of asset book, Turnstar Holdings, will now focus on the local market for revenue growth, after recording a pandemic-related 13% drop in pretax profits to P81.9 million last year.

Turnstar’s portfolio is currently valued at P2.4 billion with investments in Botswana accounting for 54%, Tanzania with 43% and the United Arab Emirates at four percent.

Turnstar had been eyeing further revenue growth through acquisitions outside Botswana, which would also add the potential of US dollar growth to its property book.

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COVID-19 dampens Turnstar’s African growth ambitions

The country’s largest listed property company in terms of asset book, Turnstar Holdings, will now focus on the local market for revenue growth, after recording a pandemic-related 13% drop in pretax profits to P81.9 million last year.

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