Key in driving economic growth through investments, going forward Botswana Development Corporation (BDC) will prioritize pumping its Pula into large scale businesses with the ability to export.
With a focus on citizen economic inclusion, BDC aims to take Botswana to the world through commercial investments and partnerships, with emphasis on pioneering industries and unlocking value in untapped sectors.
Speaking at a stakeholder briefing session last Thursday, BDC Managing Director (MD), Cross Kgosidiile revealed the corporation’ has set its sights on becoming a significant investment company that integrates Botswana into the global economy.
“At the heart of our mission lies a dedication to economic transformation, inclusivity, and sustainability. We are guided by a set of core values that drive our actions. The strategic focus is clear and that is basically to create sustainable economic value and wealth for the people of Botswana. Additionally, BDC is well-equipped to play a pivotal role in realising Botswana’s vision of becoming a high-income economy by 2036,” said Kgosidiile.
Established in 1970, BDC has enjoyed much success in its 54 years of existence.
In its effort to breathe new life into Lobatse’s economic fortunes, BDC has revived Lobatse Clay Works, with full production expected to commence in June.
The corporation is also making progress with the long-awaited Milk Afric project, procuring dairy cows as well as P500 million approval for recapitalization from government.
“The importance of BDC in this transformative journey cannot be overstated. Through its strategic investments and partnerships, BDC is a pivotal player in driving sectoral and economic growth, laying the foundation for a more prosperous future. BDC has built local industries and having delivered impact across various sectors of the economy, including manufacturing, property, infrastructure and services and other key industries, that have contributed to Botswana’s economic landscape,” said Minister of Trade and Industry, Mmusi Kgafela.
Meanwhile, despite operating in an uncertain volatile market, BDC reported total income of P383 million for the fiscal year ending June 30th, 2023, marking a 3 percent increase over the previous year.
Both BDC company and group assets recorded a significant growth during the period, rising to P5.3 billion and P6 billion, respectively from P3.5 and P4.8 billion.
This surge reflects the corporation’s ongoing investment in strategic ventures. Further BDC’s prudent cost containment measures and the reversal of previous impairments of equity instruments have significantly contributed to a positive overall performance, resulting in a profit of P2.2 million.