PrimeTime cools on Zambian opportunities

Growing:PromeTime is adding a Plaza 11 soon PIC: PRIMETIME.CO.BW
Growing:PromeTime is adding a Plaza 11 soon PIC: PRIMETIME.CO.BW

Local property group, PrimeTime’s confidence in the Zambian market is waning after economic troubles in that country weighed on the performance of its office and retail assets, impacting its full year profits.

PrimeTime, listed on the Botswana Stock Exchange, has office, retail and industrial buildings in Botswana, South Africa and Zambia with a market value of more than P1.4 billion.

The group entered Zambia in 2013 in its first regional expansion at a time when the domestic economy was experiencing a slowdown.

Editor's Comment
CAF is a joke, but...

We are told of massive spin-offs for hosting countries, which we assume was the catalyst behind putting in the bid.We are not too sure if it is a one-size fits all, where any hosting nation reaps the benefits or it’s on a case-by-case basis.There are arguments from both ends, with hosting a sure way to accelerate infrastructure development and a guaranteed cash flow during the 30-days of the tournament.There is a bump in employment creation...

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