BOSETU’s business wing posts P7m surplus
A decision by the board of Botswana Sectors of Educators Trade Union (BOSETU)’s investment arm to task the management team to give priority to building operational efficiency and improve the general corporate governance is paying dividends.
This emerged at a PEUBO Investments (Pty) Limited’s shareholders dinner held at Phakalane Golf Estate on last Thursday.
PEUBO is a 100 percent citizen owned company, registered and operating under BOSETU.
“The growth of PEUBO has been impressive and continues to be. In 2014, its revenue recorded P6m with a loss of P2m. In 2017, its revenue has grown to P20m with a surplus of P7m,” said PEUBO board chairperson, Samuel Aboneng.
Aboneng told the PEUBO stakeholders dinner that the loan book has also grown significantly and this phenomenon growth is showing an upward trend.
“This growth is attributable to the due diligence and commitment of the board,” he said.
Upon assuming office in 2015, Aboneng heaped the PEUBO board with praises for developing a strategy which formed a financial path that was followed to reach the greater heights the company has reached.
With a clientele of an estimated 3 500, Aboneng added that the continued impressive performance of PEUBO is expected to translate into gains and benefits by its shareholders.
He said the continued impressive performance of PEUBO is hinged on the fact that the company is experiencing growth in membership of the entities and merchandise is beginning to register surpluses.
An equally impressed PEUBO General Manager, Ned Phatshwane said his company is living the mission of excellent, affordable and accessible products and financial services, sustainable uplifting of our customer given the number of applications they receive per day.
“PEUBO is customer centric because customers comes first. We show empathy by providing our customers with financial advice to a situation whereby they end up drowning in a financial doldrums. We are also time oriented,” said Mr. Phatshwane.
According to Phatshwane, PEUBO had to develop policies and processes with the sole aim of improving stakeholder relations which is the reason why they decided to hold a dinner in honor of the stakeholders and keeping the flow of communication alive.