The Botswana Development Corporation (BDC) spent P1.4 billion in local and offshore financial investment deals in the past five years.
Minister of Trade and Entrepreneurship Tiroeaone Ntsima shared this during a parliamentary session on Tuesday, revealing that the investments targeted key sectors such as manufacturing, healthcare, real estate, hospitality, agri-business and retail.
“These investments were selected to stimulate economic diversification, job creation, industrial development, and value chain development,” he said.
The total investment of P1.4 billion incorporates P172 million allocated through the Industry Support Fund (ISF) to assist large-scale businesses, as well as P396.2 million reinvested into exiting portfolio companies.
These investments have already led to the creation of 4 200 jobs, with an additional 3 200 jobs expected as projects move towards full operational capacity.
Notable investments during the 2019-2024 period include Indus Healtcare, Kamoso Africa, Kromberg and Schubert, Selibe-Phikwe Citrus, Access Bank, Oxygas, Tame Malls, Mashatu, Sedilega Private Hospital, Grit Real Estate and Rhodes.
Ntsima noted a positive overall performance of the company’s investment portfolio, with most projects progressing in line with commercial expectations. He however underscored some challenges faced including the Covid-19 pandemic and global economic disruptions. Despite the challenges, he assured that BDC has strategies in place for monitoring on non-performing projects.
