Resurgent BDC targets P750m investment deals

Driving Seat: Lekaukau says the BDC's assets under management hit a record high PIC: PHATSIMO KAPENG
Driving Seat: Lekaukau says the BDC's assets under management hit a record high PIC: PHATSIMO KAPENG

The Botswana Development Corporation (BDC) plans to spend up to P750 million on various new projects this year, bolstered by resurgent finances and an P800 million loan from the African Development Bank (AfDB), BusinessWeek has learnt.

Five years ago, the state investment company was steeped in losses, mainly the result of high profile investment failures in which an estimated P700 million was lost.

While the 2014-2019 strategic plan ushered in recovery, critics of its early years said divestments from various assets were papering over the Corporation’s real state of affairs and propping up profits.

Editor's Comment
Micro-procurement maze demands urgent reform

Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...

Have a Story? Send Us a tip
arrow up