The Botswana Development Corporation (BDC) spent P1.4 billion in local and offshore financial investment deals in the past five years.
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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.
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“These investments were selected to stimulate economic diversification, job creation, industrial development, and value chain development,” he said.
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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.
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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.
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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.
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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.
