BDC offloads Kwalape shares
Botswana Development Corporation (BDC) this week disclosed it has transferred its 40 percent shareholding and facility interest in Kwalape Tours and Safaris to a citizen-owned company, Dekete Guys Limited. The transaction was concluded at a hand-over ceremony on the 13th August 2018 at Kwalape Safari Lodge in Kasane. According to BDC, which is a government’s investment unit, the transfer is part of its broad strategy to divest from mature industries and sectors that had demonstrated adequate private sector capacity. The Corporation has approved an offer for its interest in Kwalape, which are the purchasing of both ordinary and preference shareholding and credit facilities. BDC Managing Director, Bashi Gaetsaloe is thrilled on the latest developments. “We are pleased to see Kwalape having attained a mature business status as evidenced by its ability to self-sustain in a tough and competitive tourism sector. On the back of our robust corporate governance processes, we ensured all checks-and-balances were followed as well as reviewing prospective investors inorder to appoint the right operation to take-up our shareholding,” said Gaetsaloe. “We believe the profile and projections of this investor would sustain the business continuity and open new doors for Kwalape’s growth in the long term. We are confident in Dekete’s vision for the business”. In 2007, BDC entered into a partnership with the company, subscribing to 40 percent, while the founders remained with a majority 60 percent shareholding. Kwalape, trading as Kwalape Safari Lodge, is located along the Kazungula-Kasane Road, Kasane in the Chobe District, the tourism hub of Botswana. The resort offers an extensive bouquet of tourism activities such as boat cruises on the Chobe river, safaris and game drives in the Chobe National Park and tours of the tourist attractions in the region such as Victoria Falls and Livingstone Memorial through strategic partnerships. Kwalape was established in 1999. “I believe that partnering with giants such as BDC helps one grow in that they push you to pursue for much bigger and better than what many of us as start-up entrepreneurs could think possible. I appreciate the relationship we have built with BDC over the years and look forward to Kwalape’s next chapter with Dekete Guys,” said Kwalape Tours and Safaris Managing Partner, Milton Khachana.