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P10 billion needed for BDC projects

P10 billion needed for BDC projects
PARTNERSHIP; BDC Managing Director Bashi Gaetsaloe and DBSA Acting General Manager Davies Pwele signing the MOU

Botswana Development Corporation (BDC) has collaborated with the Development Bank of Southern Africa (DBSA) to facilitate funding for development of their planned projects.

Last Thursday the two organisations penned a Memorandum of Understanding in a new partnership that is expected to establish a capacity building and exchange program whose aim is to address emerging gaps and needs.

BDC Managing Director, Bashi Gaetsaloe, told Voice Money that at the moment they have pipeline projects that will cost P10 billion. He said for them to implement their projects they need to build strategic partnerships to help them achieve their vision.

“This deal will give BDC a competitive advantage and an opportunity to access a broader range of resources and expertise. The mutual understanding allows both BDC and DBSA an opportunity to formalise a non-exclusive framework of cooperation and future collaboration. This relates to the identification, preparation, financing and implementation of bankable infrastructure projects within the republic of Botswana,” said Gaetsaloe

The BDC boss said the MOU covers knowledge and information, skill sharing and training, business development and co-financing.

Gaetsaloe said through the MOU they will be able to send their officials to DBSA to benchmark and also that DBSA experts will come to Botswana for specific areas to help their team to grow.

DBSA Acting General Manager Davies Pwele said they have been working on the project for the past three years and that they are excited to be partnering with BDC to drive their vision.

He said as DBSA they realised that infrastructure space is huge and that not one single entity can crack it.

“We coined a word in the bank called catalytic where we are saying let’s go for projects that we do not necessarily have to fund all of them, but we bring out our participation that brings an impact to our people. We believe that if we partner with BDC we will conquer infrastructure space that Botswana has. DBSA decided to focus on specific sectors which will bring impact to our people such as water infrastructure, rail and road and renewable energy,” said Pwele.