Property sector reels from power, water outages

The construction industry is being adversely affected by power and water shortages
The construction industry is being adversely affected by power and water shortages

The country’s perennial power cuts and water shortage is impacting negatively on the property market, PrimeTime says. Commenting on the property developer’s financial results for the six months that ended February 28, 2014, PrimeTime managing director, Sandy Kelly said while they generally performed well, the economic conditions remain challenging and are now worsened by power and water shortages.

“Our properties performed very solidly during the interim period. Whilst economic conditions remain challenging, and now worsened by power outages and water shortages, we have had to work hard with our tenants to minimise disruption,” he said. 

Kelly’s comments come on the back of the forecast by economists that growth will be restricted to lower than five percent in 2014, in part due to the prevailing water and electricity shortages that have disrupted production across all economic sectors.

Editor's Comment
UDC's 100 Days: Please deliver your promises!

We duly congratulate them to have ousted the long ruling Botswana Democratic Party (BDP) from power. Prior to taking power from the BDP, the coalition had made several election promises that are credited for influencing change and swaying the people to vote in its favour.The party had made an undertaking, which its leader and President Duma Boko consistently bellowed in his campaign trail. These undertakings were promises that Batswana would be...

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