Diversified property services company, Mophane Properties was only established this year. However, despite operating in a cut-throat and competitive sector, the company has managed to find its footing. This week, BOTSWANA GUARDIAN caught up with its director, LORATO SEETE, who has disclosed they are ready to grab more opportunities in the region.
BOTSWANA GUARDIAN: Kindly provide background to the formation of Mophane Properties.
LORATO SEETE: Mophane Properties is a citizen-owned business which is headquartered here in Gaborone.
The company provides commercial and residential sales and leasing, property management, real estate investment advisory, valuation services for private investors, institutions, corporations, non-profit organisations, home owners, and cooperatives.
We are proud of our company’s many accomplishments and our clients appreciate the fact that Mophane Properties is a closely held Corporation owned and operated by its shareholders. Mophane Properties’ integrated team-based approach facilitates effective, responsive communication and its proactive approach to management ensures that the operational and financial performance of clients’ property is always our highest priority. Mophane Properties is recognized by the Real Estate Institute of Botswana (REIB) and the Real Estate Advisory Council (REAC), which are the industry oversight bodies.
BOTSWANA GUARDIAN: What competitive edge does the company have?
SEETE: Our most treasured competitive advantage in the market is that we are part of a group of companies with a 360 degree model. This has helped Mopane Properties to have a wider clientele base and fuse into the different markets. As a matter of fact, our sister companies are Stonecliff, which is in the interior design and construction space; Pantone Reign in advertising and communications; 50 Miles in the billboards space and Print Lab on small and large format printing. Being part of this group of companies, has indeed helped us grow faster than we initially anticipated.
GUARDIAN: Explain some of the major challenges that the company has encountered since it was established
SEETE: Market volatility - the real estate markets can be highly dynamic and subject to fluctuations in supply and demand, economic conditions, interest rates, and government policies. We tackle this challenge by being able to navigate these market uncertainties and adapt our strategies accordingly to stay competitive.
Intense competition - This industry is highly competitive, with numerous companies vying for clients and deals. This competition can make it challenging to stand out and secure business. That is why we must differentiate ourselves through unique offerings, exceptional service and specialized expertise.
Regulatory and legal complexities - This industry is subject to numerous regulations and legal complexities at all levels which at times slow progress. Nonetheless, we have to always find our way to work within them.
BOTSWANA GUARDIAN: Who is your target market and why?
SEETE: Mophane Properties services all clientele brackets; Low, middle and high income.
GUARIDIAN: How has the market reacted to your service’s offering, especially due to the fact that the company operates in a highly competitive sub-sector which also has international players?
SEETE: The reception has been nothing but amazing and warm. Our team has been in the property space for more than a decade. Extensive knowledge and network has allowed for a smooth landing on the ground.
GUARDIAN: How many job opportunities has the company created?
SEETE: Mophane Properties has employed a good number of capable Batswana and youth in general and we continue to spread around the country.
GUARDIAN: What is Mophane Properties’ general opinion on the recently amended Transfer Duty Act?
SEETE: One of the amendments of the Act is an increase of the Transfer Duty exemption benefit for citizens to P1,500 000.00 from P1,000 000.00. This amend, has significantly reduced the turn-around time of transactions and allowed us to effectively assist our valued clients.
In addition, Government has also reduced the transfer duty payable by non-citizens from 30% to 10% of the purchase price or value of immovable property below P2,000 000.00 and 15% for all amounts exceeding P2,000 000.00. This has had a direct impact on the increase of investors in the market.
GUARDIAN: Access to funding is always a major challenge to start-ups like yours. How's your experience so far?
SEETE: Our agents are seasoned and this has helped the business to penetrate the market faster and generate healthy cash flow.
GUARDIAN: What opportunities does the company have in the current business landscape?
SEETE: Technological advancements - The rapid advancement of technology provides us with numerous opportunities to enhance our operations and service offerings. Embracing innovative solutions such as Virtual Reality (VR) property tours, 3D modeling, Artificial Intelligence(AI)-powered analytics, and digital marketing strategies has helped us to attract clients, streamline processes, and improve efficiency.
Urbanization and mixed-use developments: Rapid urbanization and the increasing popularity of mixed-use developments and gated communities present opportunities for us. Developing projects that combine residential, commercial, and recreational spaces in one location can cater to the changing lifestyles and preferences of urban dwellers, creating vibrant communities and attracting a diverse range of clients.
International investments and global expansion: We have managed to explore international markets for investment opportunities and expansion. Globalization and cross-border transactions offer opportunities to diversify portfolios, tap into emerging markets, and cater to international clients. Partnering with local firms or establishing a presence in key international locations can facilitate access to these opportunities.
GUARDIAN: How supportive has the government (as major economic spender) been to the company?
SEETE: Unfortunately we have not had much support from government, hopefully in the future.
GUARDIAN: What kind of strategic relationships does the company have ? SEETE: Being part of a Group of companies has facilitated for us to penetrate different markets and reach a wider audience and clientele base.
LORATO SEETE: Mophane Properties is a citizen-owned business which is headquartered here in Gaborone.
The company provides commercial and residential sales and leasing, property management, real estate investment advisory, valuation services for private investors, institutions, corporations, non-profit organisations, home owners, and cooperatives.
We are proud of our company’s many accomplishments and our clients appreciate the fact that Mophane Properties is a closely held Corporation owned and operated by its shareholders. Mophane Properties’ integrated team-based approach facilitates effective, responsive communication and its proactive approach to management ensures that the operational and financial performance of clients’ property is always our highest priority. Mophane Properties is recognized by the Real Estate Institute of Botswana (REIB) and the Real Estate Advisory Council (REAC), which are the industry oversight bodies.
BOTSWANA GUARDIAN: What competitive edge does the company have?
SEETE: Our most treasured competitive advantage in the market is that we are part of a group of companies with a 360 degree model. This has helped Mopane Properties to have a wider clientele base and fuse into the different markets. As a matter of fact, our sister companies are Stonecliff, which is in the interior design and construction space; Pantone Reign in advertising and communications; 50 Miles in the billboards space and Print Lab on small and large format printing. Being part of this group of companies, has indeed helped us grow faster than we initially anticipated.
GUARDIAN: Explain some of the major challenges that the company has encountered since it was established
SEETE: Market volatility - the real estate markets can be highly dynamic and subject to fluctuations in supply and demand, economic conditions, interest rates, and government policies. We tackle this challenge by being able to navigate these market uncertainties and adapt our strategies accordingly to stay competitive.
Intense competition - This industry is highly competitive, with numerous companies vying for clients and deals. This competition can make it challenging to stand out and secure business. That is why we must differentiate ourselves through unique offerings, exceptional service and specialized expertise.
Regulatory and legal complexities - This industry is subject to numerous regulations and legal complexities at all levels which at times slow progress. Nonetheless, we have to always find our way to work within them.
BOTSWANA GUARDIAN: Who is your target market and why?
SEETE: Mophane Properties services all clientele brackets; Low, middle and high income.
GUARIDIAN: How has the market reacted to your service’s offering, especially due to the fact that the company operates in a highly competitive sub-sector which also has international players?
SEETE: The reception has been nothing but amazing and warm. Our team has been in the property space for more than a decade. Extensive knowledge and network has allowed for a smooth landing on the ground.
GUARDIAN: How many job opportunities has the company created?
SEETE: Mophane Properties has employed a good number of capable Batswana and youth in general and we continue to spread around the country.
GUARDIAN: What is Mophane Properties’ general opinion on the recently amended Transfer Duty Act?
SEETE: One of the amendments of the Act is an increase of the Transfer Duty exemption benefit for citizens to P1,500 000.00 from P1,000 000.00. This amend, has significantly reduced the turn-around time of transactions and allowed us to effectively assist our valued clients.
In addition, Government has also reduced the transfer duty payable by non-citizens from 30% to 10% of the purchase price or value of immovable property below P2,000 000.00 and 15% for all amounts exceeding P2,000 000.00. This has had a direct impact on the increase of investors in the market.
GUARDIAN: Access to funding is always a major challenge to start-ups like yours. How's your experience so far?
SEETE: Our agents are seasoned and this has helped the business to penetrate the market faster and generate healthy cash flow.
GUARDIAN: What opportunities does the company have in the current business landscape?
SEETE: Technological advancements - The rapid advancement of technology provides us with numerous opportunities to enhance our operations and service offerings. Embracing innovative solutions such as Virtual Reality (VR) property tours, 3D modeling, Artificial Intelligence(AI)-powered analytics, and digital marketing strategies has helped us to attract clients, streamline processes, and improve efficiency.
Urbanization and mixed-use developments: Rapid urbanization and the increasing popularity of mixed-use developments and gated communities present opportunities for us. Developing projects that combine residential, commercial, and recreational spaces in one location can cater to the changing lifestyles and preferences of urban dwellers, creating vibrant communities and attracting a diverse range of clients.
International investments and global expansion: We have managed to explore international markets for investment opportunities and expansion. Globalization and cross-border transactions offer opportunities to diversify portfolios, tap into emerging markets, and cater to international clients. Partnering with local firms or establishing a presence in key international locations can facilitate access to these opportunities.
GUARDIAN: How supportive has the government (as major economic spender) been to the company?
SEETE: Unfortunately we have not had much support from government, hopefully in the future.
GUARDIAN: What kind of strategic relationships does the company have ? SEETE: Being part of a Group of companies has facilitated for us to penetrate different markets and reach a wider audience and clientele base.
