The shareholders of Smart Partnership Enterprises are confident that the P300 million The Fields mall project that kick-started in the Central Business District (CBD) in Gaborone will boost company.
Smart Partnership Enterprises investors raised over P300 million for the mega shopping complex to be built on Lot 54349 at a prime CBD location and is due to be completed on April 2022.
Investors are a group of companies owned by well-heeled citizens who have come together to set up Smart Partnerships to build the shopping complex and the office blocks. The Chairman of Smart Partnerships, Sam Mpuchane, said the company is committed to grow big.
He said all investors have put in much commitment to ensure that The Fields Mall shopping complex comes into reality, adding that the mall will be the largest in capital city, Gaborone with 70 shops.
“There is optimism now from the investors that the development of the mall has now started. We worked hard to raise funds for the development of the lot. The Smart Partnerships Enterprises started from humble beginnings and this shows growth,” said the delighted Mpuchane.
The local business magnates of Smart Partnerships undertook the ground breaking on Monday on the 26 000 square metre piece of land.
Smart Partnerships Enterprise investors have already completed office complex on the Lot54349 which is strategically located to lure lucrative businesses to rent as CBD is growing into office hub.
A list of local investors in Smart Partnership Enterprises consortium totals about more than 100. Some of local business magnates who are VIPs investors in the company include the likes of Abdul Satar Dada, Sam Mpuchane, Kabelo Ebineng, Dennis Alexander and Laurence Khupe.
The consortium is made up of 10 prominent local owned companies, namely, Ibis Holdings, 21st Century Holdings, Vision Investors, Rubio Engineering, Baba 20 Investments, Northern Investments, Hemamo Investments, Inter Public, Leno Holdings and Home-based Holdings.
According to the consortium, The Fields shopping complex will accommodate shops such as Spar, Woolworths and Pick n Pay as the main retail outlets and other new entrants from South Africa.
Mpuchane said the Directors of the company decided to name the mega shopping complex mall The Fields driven from the name of the plot which is originally known as the cotton fields.
Terrence Dambe, Director of Smart Partnership Enterprises, said the company would empower Batswana in the project, noting that the ownership is strictly for Batswana companies. He said the project incurred challenges because the investors had to raise enough funds for the shopping complex to be started hence the delay on construction.
“The idea of the project dates back to 1980s but we are happy now that it has come into reality,” he said.
According to him, Caitec Botswana contractor is engaged for the field work, adding that tendering for the actual construction of the complex will be advertised by the company as building begins.