NAP feels brunt of BCL closure in Phikwe

Friday, November 03, 2017

Riverwalk mall is NAP's biggest property but the company has other assets across the country

The closure of BCL Mine has affected New African Properties’ (NAP) portfolio in Selebi-Phikwe resulting in an increase in both vacancies and rental arrears.

Commenting on the group’s financial results for the year ended July 31, 2017, the group chief executive officer (CEO) Tobias Mynhardt said they had exposure in Selebi-Phikwe, which has been impacted by the closure of the BCL in October last year.

The exposure to Selebi-Phikwe is 2.7% of the total property value and 3.4% of total rental at year-end.

Already have an active account? Log in here.

Or Sign up and get unlimited access to premium articles.

For the people: Stanbic Bank representatives in Letlhakane during an event. The bank has doubled down on its customer-focus and digital platforms PIC: FACEBOOK

Stanbic pretax profits up 11%

Mbongeni Mguni | 10 h ago

The audacity to be a unicorn

Mbongeni Mguni | 19 Apr 2024

Faulty gadgets top complaints to BOCRA

Mbongeni Mguni | 1d ago

Civil Society fights 'flawed' constitutional amendment

Innocent Selatlhwa | 22 Apr 2024

Civil Society calls for Constitution review governing Act

Innocent Selatlhwa | 22 Apr 2024

IEC rejects 2,513 registrations

Innocent Selatlhwa | 22 Apr 2024

Motshegwa prevails against detractors

Goitsemodimo Kaelo | 22 Apr 2024

Serowe woman ingests acid, attempts suicide

Pini Bothoko | 22 Apr 2024

Inspect the voters' roll!

The recent disclosure by the IEC that 2,513 registrations have been turned down due to various irregularities should prompt all Batswana to meticulously review the voters' rolls and address concerns about rejected registrations.The disparities flagged by the IEC are troubling and emphasise the significance of rigorous voter registration processes.Out of the rejected registrations, 29 individuals were disqualified due to non-existent Omang...

The Monitor Editor | 23 April 2024

About us

Mmegi is the leading independent source of breaking news, latest news, current
affairs, Politics, Business, Sport, debates, analysis, and entertainment news in Botswana.

Explore

More

NAP feels brunt of BCL closure in Phikwe

The closure of BCL Mine has affected New African Properties’ (NAP) portfolio in Selebi-Phikwe resulting in an increase in both vacancies and rental arrears.

Stanbic pretax profits up 11%

The audacity to be a unicorn

Faulty gadgets top complaints to BOCRA

Civil Society fights 'flawed' constitutional amendment

Civil Society calls for Constitution review governing Act

IEC rejects 2,513 registrations

Motshegwa prevails against detractors

Serowe woman ingests acid, attempts suicide

Inspect the voters' roll!