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

LEA partners with Ministry for youth businesses

Keikantse Lesemela

Published

on

Ministry of Youth Empowerment, Sports and Culture Development, (MYESCD) has partnered with the Local Enterprise Authority (LEA) to create a pool of competitive and sustainable youth businesses.

Through the partnership, business management and mentoring services will be provided to the Youth Development Fund (YDF) beneficiaries to enhance their efficiency and capacity to manage and sustain their businesses.Speaking during the signing ceremony MYESCD Deputy Permanent Secretary, Kago Ramokate said the ministry has always had a challenge with lack of expertise mentorship to young entrepreneurs so partnership with LEA will assist the ministry to effectively deliver its mandate.

“Training and mentorship has been a challenge for us because our officers mostly do not have business background so this partnership will address this,” said Ramokate.In his remarks, LEA Chief Executive, Racious Moatshe said the partnership is paramount to achieve government initiative of creating a pool of competitive and sustainable Small Medium and Micro Enterprises that will significantly contribute towards the diversification of the economy. It is also expected to meaningfully impact local communities through employment creation and import substitution.

“We want to ensure that youth businesses are run properly with proper funding. Both institutions will jointly conduct research that has direct impact on scaling up of youth owned businesses in Botswana,” said Moatshe.

He said over 2 500 youth businesses have received LEA intervention. “We want to see more youth businesses succeed”. Meanwhile, the ministry has been urged to come up with a better strategy to effectively deliver the YDF program and produce successful youth businesses. According to the Auditor General’s report for the past year, Pulane Letebele pointed out that the operation of the fund was highly unsatisfactory because of lack of proper monitoring and mentoring of the beneficiaries, financed from the Fund on a 50 percent grant 50 percent loan basis.

The Auditor General complained that two years after the Public Accounts Committee called for a stream lining of the Fund’s accounting system to allow for proper debtor accounting, nothing has been done.The 2015 Auditor General’s report has revealed that all five regions that had been selected for audits during the year show that the fund has failed. “In Maun about P20 million was disbursed in loans and only P400 000 has been paid while P640 000 was the total of arrears covering the entire period from inception of the fund in 2009,” reads the report.

Continue Reading

Business

Ex Debswana boss counsels graduates

Keikantse Lesemela

Published

on

Speaking at the graduation ceremony of Botswana Accountancy College (BAC) on Saturday, former Managing Director of Debswana, Balisi Bonyongo said graduates and citizens need to position themselves to develop a clear technology and innovation strategy and roadmap that would enable the nation’s transformation into a knowledge-based economy.

“We need to create an entrepreneurship centre that would bring industry and the college together, to form a powerful force that would co-create breakthrough solutions capable of diversifying our country’s economy,” said Bonyongo.

The college released 645 graduates from different fields on Saturday. Since inception 22 years ago over 11 000 professionals graduated from the school. Bonyongo highlighted that graduates should approach problems creatively to provide sustainable, scalable and exponential solutions that could yield tremendous economic value.

“I urge all graduates to leverage technology and innovation to deliver practical solutions to society’s most urgent problems. Use your qualifications to seize opportunities to do what you love and enjoy,” said Bonyongo.

BAC Executive Director, Serty Leburu said between 2017 and 2018 they have experienced growth in the number of new students both full time and part time. “This mark of quality has inspired us to spread our wings and expand into other markets through various collaboration models,” she said.

Leburu revealed that they are currently in the process to introduce online learning to effectively support part-time students as well as provide some programs digitally. The college has partnered with several international universities including, University of Derby, Sheffield Hallam University, University of Sunderland and SAP University Alliance as well as Microsoft and the Cisco Academy.

Continue Reading

Trending