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The Patriot on Sunday

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The Patriot on Sunday

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MIKE MOTHIBI AT HIS FINAL RESTING PLACEMultitudes of people attended Veteran journalist Mike Mothibi's funeral in Kanye this morning, with speakers proclaiming the good hard working man he was.He leaves behind three children, one boy and two girls and six siblings - four brothers and two sisters. ... See MoreSee Less

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The Patriot on Sunday

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Who will be on the Court of Appeal bench to hear & determine IEC appeal against UDC? *ADAM PHETLHE It is generally agreed that the case between Umbrella for Democratic Change (UDC) and the Independent Electoral Commission (IEC) is that of exceptional public importance. As a consequence, the case has so far generated a lot of public interest in terms of looking at all its optics. I predict exceptional public interest will continue way beyond the conclusion of the case. So who amongst the present Justices of Appeal will make the cut? It is difficult to say with a measure of certainty who will make the cut but to predict. Depending on the number of Justices required for this expedited appeal, I predict the following to make the cut. Justices Tebogo Tau, Isaac Lesetedi, Mercy Garekwe, Lackvinder Singh & Leatile Dambe. Former South Africa Constititional Court Justice Bess Nkabinde could also make the cut. All the above local Justices have sat on the bench in high profile cases notably last year's DIS appeal with respect to the search warrant for State House 4, the 'contested' official residence of former President Khama. In this case where there were 5 Justices, Justices Tau, Lesetedi & Singh ruled against the DIS while Justices Garekwe & Dambe dissented. It is my belief that Justices decide matters based on what evidence/facts are before them. That some ruled this or the other way in previous cases is, for lack of a better word, inconsequential. The Chief Justice has sat on some appeal cases I have had sight of. I think he will be disqualified in this one because he is party to an application on another leg of the UDC/IEC case. It will be interesting to see if Justice Tau will make the cut owing to a comment she made when delivering judgement on Wednesday with respect to IEC's request to have its appeal expedited. That comment (and I am paraphrasing) had to do with the intrusive nature UDC’s observers would cause if allowed to observe & monitor voter registration exercise. I believe this comment has already rendered her conflicted to sit in the upcoming appeal proceedings. Time will tell as to who will be on the bench when the appeal proceedings begin on Monday 11 December 2023. Or, will it be new faces? ... See MoreSee Less

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#Available IN STORES #grabyourcopy #frontpagethisweek Main Headline: KHAMA OR BOKO?♦️ BPF prefers Khama as UDC chief campaigner FOR A DETAILED REPORT GRAB A COPY OF THE PATRIOT ON SUNDAY NEWSPAPER IN STORES OR FOR SUBSCRIPTION VISIT: www.thepatriot.co.bw ... See MoreSee Less

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5TH KUSI IDEAS FESTIVAL UNDERWAY AT ROYAL ARIA IN TLOKWENG.#ikanyerona#mindsetchange#kgasoyapopota ... See MoreSee Less

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Sluggish economy pulls BTC profits down

patriot by patriot
February 4, 2021
in Business
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Botswana Telecommunications Corporation Limited’s (BTC) just released results are reflective of the slow-moving economy; posting a 25% decline in profit after tax.

“This is mainly attributable to an 8% decline in total revenue to P1,466 m (FY18:P1,588m), and a 28% increase in depreciation to P199m (FY18:P156m) due to an increase in investment on mobile and fixed networks. Operating costs were under control and declined by 4% to P693m (FY18:P723m). This resulted in a 5% decline in earnings before interest, taxation, depreciation and amortisation (EBITDA) to P349m (FY18:P368m),” said the company.  

Giving the financial results overview on Monday, BTC Managing Director Anthony Masunga said the trading environment has been harsh for the business operations.

He said the unfavourable conditions led to a decline in spending in ICT across all business segments ranging from mobile, fixed up to the broadband services.

The overall decline in revenue is mainly attributable to harsh trading conditions which saw restrained customer spend, resulting in a 12% decline as well on the mobile business despite the introduction of new products and services.

Masunga said while BTC is still in transformation to turn into a full private company, it has outlined three phase strategic focus so as to drive sales increase.

The company’s 2018 strategic focus was to modernise telecommunication infrastructure, 2019 was to grow the mobile and broadband business segment, resulting in 4% increase of mobile subscribers in the past year.

“We are now focusing on long term sustainability of the business at large. It has been a difficult 12 months of slow economic progress with the entire telecommunications sector recognising suppressed revenues for the period due to reduced spending power of consumers,” observed Masunga.

As for 2020, he revealed that they will build into a fully digitalised organisation in 2020, and grow mobile and broadband business.

On the other hand despite revenue decline, Masunga said BTC still remains committed to investments of mega technological developments to improve service delivery and internet connectivity.

He singled out the recently unveiled state-of-art Data Centre dubbed ‘Sentlhaga’ located in Kgale, saying it is set to enhance robust digital transformation with some commercial banks already connected to the centre.

Abel Bogatsu, BTC General Manager Finance while giving financial results overview, noted that there has been a decline in cash flow from P483 m in the previous year to P352 m in 2019.

Bogatsu said the company experienced a stagnation of subscriber growth as well as incurring 8% decline in revenue from contracts with customers to P1, 448 m from P 1, 567 recorded in 2018 financial year 2018.

However, positivity was sustained in total costs (excluding tax), as it went down by 5% driven by 4% reduction in cost of sales emphasizing that the focus for 2019|20 financial year is to commercialise the significant investments made in networks (mobile and fixed).

The BTC Board has also approved a final dividend of 5.73 Thebe per share following an interim dividend of 3.53 Thebe per share, which the company declared and paid for in the interim results.

Botswana Telecommunications Corporation Limited’s (BTC) just released results are reflective of the slow-moving economy; posting a 25% decline in profit after tax.

“This is mainly attributable to an 8% decline in total revenue to P1,466 m (FY18:P1,588m), and a 28% increase in depreciation to P199m (FY18:P156m) due to an increase in investment on mobile and fixed networks. Operating costs were under control and declined by 4% to P693m (FY18:P723m). This resulted in a 5% decline in earnings before interest, taxation, depreciation and amortisation (EBITDA) to P349m (FY18:P368m),” said the company.  

Giving the financial results overview on Monday, BTC Managing Director Anthony Masunga said the trading environment has been harsh for the business operations.

He said the unfavourable conditions led to a decline in spending in ICT across all business segments ranging from mobile, fixed up to the broadband services.

The overall decline in revenue is mainly attributable to harsh trading conditions which saw restrained customer spend, resulting in a 12% decline as well on the mobile business despite the introduction of new products and services.

Masunga said while BTC is still in transformation to turn into a full private company, it has outlined three phase strategic focus so as to drive sales increase.

The company’s 2018 strategic focus was to modernise telecommunication infrastructure, 2019 was to grow the mobile and broadband business segment, resulting in 4% increase of mobile subscribers in the past year.

“We are now focusing on long term sustainability of the business at large. It has been a difficult 12 months of slow economic progress with the entire telecommunications sector recognising suppressed revenues for the period due to reduced spending power of consumers,” observed Masunga.

As for 2020, he revealed that they will build into a fully digitalised organisation in 2020, and grow mobile and broadband business.

On the other hand despite revenue decline, Masunga said BTC still remains committed to investments of mega technological developments to improve service delivery and internet connectivity.

He singled out the recently unveiled state-of-art Data Centre dubbed ‘Sentlhaga’ located in Kgale, saying it is set to enhance robust digital transformation with some commercial banks already connected to the centre.

Abel Bogatsu, BTC General Manager Finance while giving financial results overview, noted that there has been a decline in cash flow from P483 m in the previous year to P352 m in 2019.

Bogatsu said the company experienced a stagnation of subscriber growth as well as incurring 8% decline in revenue from contracts with customers to P1, 448 m from P 1, 567 recorded in 2018 financial year 2018.

However, positivity was sustained in total costs (excluding tax), as it went down by 5% driven by 4% reduction in cost of sales emphasizing that the focus for 2019|20 financial year is to commercialise the significant investments made in networks (mobile and fixed).

The BTC Board has also approved a final dividend of 5.73 Thebe per share following an interim dividend of 3.53 Thebe per share, which the company declared and paid for in the interim results.

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