The division, which hosts Fairs, Exhibitions and Events at its Ditshupo Hall venue in Gaborone, made P30.4 million in sales but ended with a gross profit of P13 million, which was ultimately swallowed by high operating expenses of P19.5 million. According to BDC, total comprehensive income for the year was –P8.3 million, with the company rendering no dividends to its shareholders.
The government investment arm owns 51% stake in Fairgrounds with the remaining 49% held by government. In its latest annual report for 2024, the investment agency, which muscles an asset value of P5.7 billion, revealed to stakeholders that it will ramp up its spending to support subsidiaries such as Fairground Holdings from P42.6 million in 2023 to P189 million, an increase of P146 million on a year-on-year basis. While BDC did not explicitly state the instruments to be used to extend the facilities, it is presumable it will stick to its mezzanine finance structure, which includes a blend of debt and equity deals. “The company has the following commitments relating to subsidiary companies: Commitments to provide funding to subsidiaries P189,824 million compared to P42,628 million. “In addition, the company has issued letters of support to its subsidiaries Fairground Holdings (Pty) Ltd, Milk Africa (Pty) Ltd, Lobatse Clayworks (Pty) Ltd and Malutu Enterprises (Pty) Ltd,” BDC executives stated in the latest annual report. Letters of support to the stated subsidiaries are commonly used in finance transactions, such as securing loans for the subsidiary. They can also be used in commercial transactions to support the subsidiary's obligations to customers or suppliers.
