Connect with us

Business

RDC buys property worth over R300m in Cape Town

Published

on

RDC, a Botswana listed company, announced Monday that it has purchased ‘The Edge’ building in Cape Town for a price of R300 million plus acquisition costs, through its investment in Capitalgro. Capitalgro is a Western Cape property loan stock company registered in South Africa and structured to hold commercial property for the benefit of its shareholders. The Chairman of RDC, Guido Giachetti also sits as one of the directors of Capitalgro.

He concluded the transaction with Capitalgro executive board member, Jacopo Pari. The state of the art nine-storey commercial building is located at the entrance to the Tyger Falls precinct on the Tyger Valley Waterfront. It holds a five-Star award of “design” and ‘as built’ ratings by the Green Building Council of South Africa. Striking modern architecture (BAM Architects) and innovative design have greatly reduced the carbon footprint supporting the owners’ commitment to a greener sustainable environment making it an attractive energy and water efficient option for tenants.

Current highly-rated tenants include Mercantile Bank, Distell, Sanlam, PSG and other professional business enterprises. ‘The Edge’ also enjoys ample parking facilities and excellent access from the precinct’s expanding urban village residential area as well as to shops, restaurants and fitness facilities. According to a press release the property value is expected to yield equitable profits in the coming years. “The initial yield reflects the exceptional calibre of the building and rentals are contractually bound to increase at an average of approximately eight percent per annum.”

This development comes as one of the numerous projects aligned with RDC Properties Limited 2017 growth strategy, which is to expand into the SADC region through the creation of partnerships in Madagascar, Mozambique and Namibia and through Capitalgro, into South Africa. Further growth through RDC’s current and new partnerships is envisaged for Mozambique, Namibia and South Africa in 2018 with the objective of supporting the communities and local economies in the areas in which it operates. In Namibia, RDC has initiated the construction of three convenience centres expected to complete this year. The centres are located in Katima Mulilo, Tsumeb and Grootfontein. In Mozambique, Guido Giachetti said they have obtained central bank approval for the funding of the Xai Xai project.

Continue Reading
Comments

Business

Botswana Railways hit by fuel theft

The MidweekSun Admin

Published

on

Botswana Railways CEO, Louis Makwinja

Botswana Railways lost fuel business due to continuous incidents of stolen fuel from the tanks and delays mainly at Mafikeng, in the north Western side of South Africa.

Botswana Railways Chief Executive Officer Leonard Makwinja said, during 2017/2018, their biggest failure was in this area. “Our biggest failure in this aspect was on imports, transporting of fuel from South Africa proved to be a challenge.

There have been incidents of fuel loss on tankers, sometimes a delay in Mafikeng when trains changed and when it arrives in Botswana the tank would be half empty, “said Makwinja. He said this was worsened by allegations that road transportation was cheaper. Currently, they have employed a fuel consultant to look into the whole fuel transportation. “We believe a solution will be found soon.”

The BR Chief explained they heavily rely on the relationship with Transnet to successfully execute its freight mandate. Most of the imports through rail come from South Africa and the main export through rail which is salt and soda ash is transported from Botash to Mafikeng. “Going onwards we have to depend on Transnet for connections to the respective destinations. Our strategic plan going forward is to improve our services to the oil companies so that we are more reliable, timely and profitable.”

During the period, Makwinja said they had to focus on cost containment. The main cost drivers are staff cost, fuel and maintenance of the locomotives. In his statement on Botswana Railways 2018 annual report, Makwinja said the organization’s performance was subdued due to lack of capacity to meet the demand. “In terms of tonnage, our target was 2 million tons but we only achieved 1, 5 million tons. This adverse variance can be attributed to a number of factors including lack of sufficient locomotives and practicing conservative business initiatives and marketing,” he said.

Continue Reading

Business

Calls to improve crop yields with technology

Keikantse Lesemela

Published

on

Greenhouse Technologies managing director, Amanda Masire has urged entrepreneurs to venture into agriculture as it is a lucrative business and more beneficial to the national economic development, despite climate change challenges.

Speaking to Business Trends, Masire said there is a need for more training and knowledge on modern agriculture technologies for the country to have sustainable food production. “I am passionate about agriculture and food production. I want to help my country to produce food for itself and reduce dependency on imports. I have learnt that despite all the challenges of climate change, we can still produce our own food through the use of modern technologies,” said Masire.

Masire is an agri-business developer, specializing in horticulture, beekeeping and fish farming. She currently operates Greenhouse Farmers Academy offering training and mentorship on horticulture farming. “Agriculture is the most lucrative business that young people should be looking into. Currently, we depend much on South Africa. We should rise up and develop the sector because as Batswana we have rich land that we are not utilising.” Her services include horticulture starter kit, which includes business plans, lessons, fertilisers and all equipments necessary for a particular horticulture project.

She is currently working with the Ministry of Agriculture Development and Food Security to develop the ISPAAD Program. She said government would embrace modern farming technologies to improve food production. “Most Batswana have lands which they are currently not ploughing because of climate change conditions while the government gives out fertilizers and seeds every year to subsistence farmers yet there is no yield. I have come up with solutions, which include testing soil and supplying lime treatment to reduce acidity. This will help improve crop yield when adopted with other technologies,” she said.

Speaking during Stanbic Lionness Lean In Africa, Masire said with the challenges in the agriculture sector, Batswana should stop looking much into the problems and getting discouraged but should rather think of solutions. “Government is trying but we individuals also need to be innovative and assist government in improving food security. Young people should take opportunity of the agri-business market and reduce unemployment,” said Masire.

Continue Reading

Trending