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RDC buys property worth over R300m in Cape Town

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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.

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Capital bank rebrands to First Capital

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First Capital Botswana CEO, Jaco Viljoen

Capital Bank has rebranded to First Capital, as its parent company FMBcapital Holdings launched a single identity for operations in Botswana, Zimbabwe, Malawi, Zambia and Mozambique which is yet to rebrand at a later stage.

First Capital, Chief Executive Officer, Jaco Viljoen said the bank’s new image will not influence its operations or change focus on clients needs. “We will retain our focus on relationships, as we work alongside our clients and communities to help them achieve their extraordinary,” said Viljoen.

“Relationships will therefore remain at the core of our business, even as we continue to grow,” he added.First Capital Bank was first founded in Malawi in 1995, as First Merchant Bank (FMB) and had grown into a regional banking group.

With a total 2.5 billion pula in assets on the local market and 2.2 billion pula in clients’ deposits, the bank has plans to keep pace with growth both locally and in the region, providing integrated services across all the five countries where its footprint is found. “We do not expect anything to change if not improving it.

As we help customers achieve the extra ordinary,” said Hitesh Anadkat, First Capital Bank’s Board Chairman. First Capital’s appetite for growth is also supported by figures from the 2017 financial year results. The bank’s loans extended to clients grew by 47 percent under the Capital Bank brand and posted a 14 percent increase in profits in the same year in Botswana.

In addition, while total profits in Botswana’s banking sector has declined sharply in recent years, First Capital Bank has posted a compounded annual growth rate in profit after tax of 25 percent over the past five years.

Currently the Pan-African bank employs over 1800 staff serving a client base of approximately 840 000 customers across the region.

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Pheko, Molomo join BTCL board

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Botswana Telecommunications Corporation Limited has appointed two non-Executive Directors, Thari Pheko and BafanaMolomo.

Pheko is the founding Chief Executive and director of Botswana Communications Regulatory Authority (BOCRA), having joined when it was known as Botswana Telecommunications Authority (BTA).

BOCRA regulates operators in the information communication technology space. He was recently nominated as Commissioner of Botswana National Commission for United Nations Educational, Scientific and Cultural Organisation (UNESCO). Fellow non-executive director, Molomo is the founder and Managing Partner at Aleyo Capital, a local private equity manager.

He was once the Chief Investment Officer at Botswana Development Corporation (BDC). Before then, he was Senior Associate at Vantage Capital responsible for originating and structuring deals in Botswana, South Africa and Namibia. Molomo is experienced in the private equity finance space.

BTCL board chairperson, Lorato Boakgomo-Ntakhwana has welcomed the new faces in the board. BTCL is integrated telecommunications business that is listed locally.

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