Property investment company, Letlole La Rona continues to find investment opportunities in various property sectors in Africa to achieve competitive returns. Commenting on the published results, LLR Chief Executive Officer Paul More said LLR will target sectors and markets in the continent and this will be informed by potential revenue and capital growth to be generated. “LLR will also target acquisitions that come with tenants of competitive covenant strength on long leases, as this will not only guarantee occupation, but also real growth in income through predetermined escalations,” said More.
He said the company continues to explore deals in the market with a view to creating diversified and efficient portfolio which could survive market shocks. LLR portfolio comprises 44 percent industrial, 34 percent leisure, 10 percent retail, seven percent office and three percent residential. In its year ended June 2017, LLR recorded 20 percent increase in profit to P63.8 million compared to P53 .2 million recorded in 2016.
More said the growth is primarily due to increased revenues including income of P6.3 million from the newly acquired investment in NBC as well as continued focus on creating operating efficiencies. Contractual rental revenue for the year ended 30 June 2017 was P75.9 million which is 13 percent increase from the prior year. “This growth was largely driven by effective management of vacancies, compounded annual escalations which are embedded in the lease agreements as well as rentals from Red Square,” stated More.
He said the company continues to enjoy capital appreciation of its portfolio because of its solid asset base. The company’s investment properties inclusive of operating lease assets are currently recorded at P739.4 million compared to previous year’s P710.1 million. LLR is the largest investor in industrial and hotel space of the Botswana Stock Exchange-listed property funds and these sectors have been resilient despite the current challenging trading environment. “Management is proactive in ensuring that vacancy levels are low and at close of the current financial year, vacancy rate for industrial and commercial portfolio was insignificant sitting at one percent,” said More. The gross yield for LLR portfolio for 2017 is 10 percent.
Cell City rewards customers
Cell City gave away two Toyota Hilux pick up cars worth about P300 000 and three Hisense televion sets worth P15 000 each to their customers through their annual competition.
In partnership with Hisense and Orange Botswana, Cell City conducts annual competitions to reward their customers and contribute to citizen empowerment. Handing over the cars on Friday, Cell City Chief Executive Officer, Brian White said through the competition they want to satisfy their customers and give back to the community. “Cell City and Orange clients were given a chance to win either a Toyota Hilux pickup or a Hisense television set.
All they had to do was purchase any Hisense mobile phone from a Cell City or Orange retail outlet and fill in the competition form in the store,” said White.Thato Ntshabele, who won one of the cars told the Business Trends that she bought a Hisense cell phone worth P900. 00.
“I never expected that I can win a car. I was just filling the forms and dropped into the entry box and I forgot about it. I am so happy to receive this prize and I thank Cell City for this opportunity,” said Ntshabele. Another winner, Dimakatso Mmusi expressed his excitement saying he had always wanted a van and he is grateful to Cell City.
“I just bought a cell phone worth P899.00 at Cell City Railpark mall, I never expected anything, and I was just submitting the form as I was requested by the shop assistants. This car is very useful to me,” said Dimakatso.
Smecha chillie hits the shelves
For the love of food and the passion to apply modern technology processes in food manufacturing locally, Kgalaletso Mothoagae established her own brand, Smecha specializing in relishes.
She processes and packages chillie in 325 gramms and 1 litre bottles selling at P50 and P150. She told the Business Trends that she decided to process chillies as it is one of the products that are rarely processed in the food industry.
She started cooking it for home consumption and later started selling to friends and currently the product has gone beyond borders at South African Spar shops and Restaurants. “I couldn’t look for any other vegetable as most of them have already been processed in the market. It is my first product of research in the food industry so I found out that I can do good business with this product. This chillie is free from preservatives but still has extended shelf life of 6 months,” said Mothoagae
The Kanye born young lady studied food technology and has the passion to explore the food processing market in Botswana and contribute to reduce the high food import bill. “I wanted to explore more about food and use my skills to contribute to the development of the local food processing and manufacturing industry. I also wanted to supplement my income at the same time,” said Mothoagae.
She has a degree in Food Technology. She says there is a lot of potential for business growth as there is a demand for the product locally and in South Africa. “My main customers are individuals in homes, they have embraced the product, and they love the taste. There is also a market that has been secured in SA; it is available in several shops like spars and some restaurants”. In future, Mothoagae said she would increase the product range to 10 using various vegetables and flavours.
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