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BDC to spend P2 billion on high value projects

patriot by patriot
March 25, 2025
in Business
0

Botswana Development Corporation (BDC) plans to invest about P2 billion in the upcoming year and beyond across various sectors, including manufacturing, ICT, renewable energy, financial services and real estate. The company disclosed this in the latest financial results report for the six months period ending December 2024. 

“We remain committed in creating sustainable value in various sectors of the economy as well as pioneering new industries. The corporation aims to heighten investment in high value manufacturing projects with the view to support AfCFTA implementation and grow Botswana’s industrial base. The prioritised sectors are Agro processing, Automotive Industry Construction materials, Expansion of Bio and Industrial gas manufacturing, Renewable Energy Equipment manufacturing, Biotechnology, Pharmaceuticals, and Precision engineering,” said the company directors in a commentary accompanying the results. 

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The results have been split into two – one for the group and the other for the company. 

For the period under review total group income reached P233 million while the company posted P205 million. 

“Operational expenses at group level increased from the 6-month comparative period due to startup costs and related marketing expenditure of revamped and reopened businesses. Expected credit losses remained heightened due to recovery efforts of a defaulted investment still in progress. The corporation closed the period profitable recoding a profit before tax of P26million far surpassing the loss recorded in the comparative period. This is indicative of successful initiatives and efforts aimed at turning the corporation’s performance around,” the company said. 

BDC’s Head of Corporate Affairs, Boitshwarelo Lebang-Kgetse said: “BDC has experienced balance sheet growth, primarily driven by capital raised through the debt market. Strategic investments in key sectors, coupled with a measured approach to returns during the COVID-19 pandemic, have contributed to some performance volatility in recent years. However, focused efforts are underway to drive improved and sustained business performance moving forward”. 

She said the group results were hampered by the one-off items, noted such as the losses in the insurance sector, initial marketing costs for start-up/revamped companies and the contribution of loss-making associate entities. “Despite this, the Corporation remains optimistic about its trajectory, with ongoing efforts expected to deliver improved outcomes. Notably, revamped companies have already begun contributing positively to revenue through increased sales activity during the period,” she added. 

Going forward, she said the performance of the company is expected to improve on award of new contracts. 

“At the moment, the company is looking forward to executing an additional contract from a major vehicle manufacturer which is expected to realise sales in 2027. Between now and then, the company will be undertaking various activities to prepare to service the contract,” said Lebang-Kgetse. 

She pointed to their property companies, among others, as investments that are expected to continue to carry the business. BDC has over 30 investee companies operating across different sectors of the economy. 

The BDC group however comprises 14 subsidiary companies, and six associate companies 

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