Botswana Development Corporation (BDC) Managing Director, Cross Kgosidiile has said the corporation targets large scale export oriented businesses, focusing on citizen economic inclusion.
He said as the corporation navigates the fiscal landscape, they remain dedicated to economic transformation and sustainable growth. “The corporation remains unwavering in its commitment to funding financially viable and sustainable ventures that will bring about positive and impactful changes to Botswana’s economy." During the six months period ended June 2024, the corporation experienced a marginal decline in income from trade due to a slowdown in business activities as one of the subsidiary companies focused on completing an assembly plant. However, interest income grew by 17 percent year-on-year to P264 million due to further disbursements in local investments.
BDC’s operating expenses increased by 29 percent driven by the ramp-up of newly restarted operations and preparation for new customer contracts. The corporations finance costs also grew due to long-term borrowings affected by adverse dollar rates and increased interest rates in the dollar market. During the half year period BDC reported a loss of P53.4 million compared to a profit of P64.4 million last year.
Kgosidiile stated that BDC’s current pipeline of investments includes projects in various sectors of the economy such as manufacturing, infrastructure development, financial services, agribusiness, property, renewable energy and healthcare. “BDC expects to invest approximately P2 billion in the financial services, manufacturing sector, agro processing, ICT, healthcare n and infrastructure development.” It is expected that 3650 long term jobs will be created from these projects.
He said BDC with its strategic partners will focus on up-scaling soda ash and salt beneficiation to take advantage of African Continental Free Trade Area (AfCFTA) Agreement. “This is expected to contribute significantly to growth in the BDC’s investment portfolio, economic diversification and inclusion.”
He said as the corporation navigates the fiscal landscape, they remain dedicated to economic transformation and sustainable growth. “The corporation remains unwavering in its commitment to funding financially viable and sustainable ventures that will bring about positive and impactful changes to Botswana’s economy." During the six months period ended June 2024, the corporation experienced a marginal decline in income from trade due to a slowdown in business activities as one of the subsidiary companies focused on completing an assembly plant. However, interest income grew by 17 percent year-on-year to P264 million due to further disbursements in local investments.
BDC’s operating expenses increased by 29 percent driven by the ramp-up of newly restarted operations and preparation for new customer contracts. The corporations finance costs also grew due to long-term borrowings affected by adverse dollar rates and increased interest rates in the dollar market. During the half year period BDC reported a loss of P53.4 million compared to a profit of P64.4 million last year.
Kgosidiile stated that BDC’s current pipeline of investments includes projects in various sectors of the economy such as manufacturing, infrastructure development, financial services, agribusiness, property, renewable energy and healthcare. “BDC expects to invest approximately P2 billion in the financial services, manufacturing sector, agro processing, ICT, healthcare n and infrastructure development.” It is expected that 3650 long term jobs will be created from these projects.
He said BDC with its strategic partners will focus on up-scaling soda ash and salt beneficiation to take advantage of African Continental Free Trade Area (AfCFTA) Agreement. “This is expected to contribute significantly to growth in the BDC’s investment portfolio, economic diversification and inclusion.”
