In a significant event held at the BTC headquarters, Mr. Mokgethi Magapa, Chairperson of the Botswana Telecommunications Corporation (BTC) Board, officially handed over a dividend amounting to P130 million to the Government of Botswana. This dividend, reflecting BTC's impressive performance for the fiscal year ending 31st March 2024, represents the Government’s shares held through the Botswana Privatization Asset Holdings (BPAH) and the Ministry of Communications, Knowledge, and Technology (MCKT).
Addressing the gathering, Mr. Magapa emphasized BTC's strong operational results amidst prevailing economic challenges. "BTC has demonstrated robust growth, achieving a profit before tax that allowed us to declare a total dividend payout of P263 million—the highest since our listing. This includes both normal and special dividends," he remarked.
Mr. Magapa highlighted the corporation's ongoing partnership with the Government of Botswana, noting the critical role played by the Government as BTC’s largest shareholder. He praised their guidance in shaping the company's strategy and fostering a supportive environment for innovation and digital transformation.
Reflecting on the year’s successes, the BTC Board Chairperson noted that BTC had made considerable strides in advancing its strategic initiatives. The company’s focus on service excellence and innovation has paved the way for progress toward its medium-term goals. Mr. Magapa explained that the dividend payout was a reflection of BTC’s commitment to transparency, accountability, and sustainable growth.
BTC also takes pride in being the only company on the Botswana Stock Exchange with more than 99% of its shareholder base made up of Batswana retail shareholders. Mr. Magapa emphasized BTC's ambitious growth plans, driven by an accelerated expansion of the company's network in response to rising competition. "We believe that by positioning ourselves as the key Government partner in delivering the national transformation agenda, we can strengthen our standing in the telecommunications sector,” he added.
Beyond the dividend payout, BTC is dedicated to fostering local economic growth through inclusive procurement processes. The company spent over P600 million in the past fiscal year on procuring services from citizen-owned and citizen-directed companies. Additionally, BTC has a strong social responsibility ethos, demonstrated through its social investment efforts. This year alone, BTC contributed over P6 million toward social initiatives, further solidifying its role as a key player in national development.
In line with its financial inclusion goals, BTC partnered with the Bank of Botswana and 42 Village Development Committees (VDCs) to transform these groups into BTC service centers. This initiative, covering 32 villages across the country, enabled communities to access mobile financial services, bridging the digital divide in rural areas.
Mr. Magapa also stressed BTC’s commitment to enhancing the digital skills of its workforce, noting that the company is one of the largest employers of local citizens in Botswana. "Our focus this year is on improving the digital capabilities of our employees, aligning with the Government’s digitization drive. Our people are the innovators and leaders who propel us forward," he said.
BTC plans to continue its collaboration with the Ministry of Communications, Knowledge, and Technology to explore new opportunities in harnessing the power of technology for national development. "Together, we are committed to improving connectivity, fostering innovation, and contributing to a knowledge-based, high-income economy. We will continue to deliver sustainable growth and create value for all our shareholders, contributing to the national fiscus," Mr. Magapa concluded.
