Looking to invest outside Botswana # Intends to lift the country out of middle-income trap
Botswana Development Corporation (BDC) have reiterated their commitment to lifting the country out of the middle-income trap.
Speaking at a stakeholder engagement recently, where the corporation also unveiled its financial results for the year, the organisation’s Managing Director, Bashi Gaetsaloe was quick to outline how they intend to achieve this.
“As a country, we must be making direct investments outside of the country. This is a way to diversify; it is a way to tap into high growth areas and integrate this economy into the global economy!”stressed Gaestaloe, adding that BDC want to build a competitive and modern economy, which he believes will lift Botswana from its current middle-income status.
BDC, a 100 percent government-owned entity, exists to assist in the establishment and development of commercial businesses in Botswana and internationally.
“What we are looking for is to invest in modern businesses. We are looking at businesses of tomorrow, whatever they may be. We want businesses that will drive us into the fourth industrial revolution,” said the confident Gaetsaloe.
In addition, the BDC head says the organisation is also committed to funding businesses that are competitive.
Such businesses, according to Gaetsaloe, would have to be in the services sector and the fourth industrial revolution.
Furthermore, the corporation is looking to invest in largely untapped sectors such as energy, manufacturing, innovation and technology locally.
Already BDC has invested in areas such as property, services, manufacturing and agriculture.
Although he says 2018 was a challenging year in terms of business performance, Gaetsaloe believes the entity achieved some worthy milestones.
One such achievement is that the Corporation were able to drive an increase in investment asset values, which reached P4.1 billion during the current year, a 5 percent growth year-on-year.
Gaetsaloe further revealed BDC had increased in profitability in 2018, recording a P187 million profit, compared to P135 million last year.