Over 15 000 Batswana and 600 of the 900 employees of Botswana Telecommunications Corporation Limited have already bought the Company’s shares as the Initial Public Offer (IPO) winds up this week Friday.
The Company is also anticipating large numbers of Batswana to turn up at various Barclays Bank Botswana branches nationwide for the shares before Friday’s closing date.
“At no point have we had less than 500 people per day submitting offers in the branches. In our final week now we expect to see an increase and we anticipate it to get even better,” Taylor told the media last week.
Flanked by Public Enterprises Evaluation and Privatisation Agency (PEEPA) deputy chief executive Tiny Diswai-Moremi, the BTCL Chief Executive said they have worked hard to educate Batswana about the IPO.
“Educational literature has been produced in the thousands. Beyond over 30,000 prospectuses are in circulation and over 320,000 BTCL Share Application Forms printed, we have shared over 100,000 FAQs in English and Setswana, and a social media community of over 26,500 people,” said Taylor.
The offer comprises 462 000 000 shares of which 250 000 000 are to be issued and allotted by the company and 212 010 000 shares are to be sold by the selling shareholder. He said they have printed over 30 000 prospectuses in circulation, 290 000 application forms, conducted 61 public roadshows in villages and towns.
BTCL will be the first telecommunications company to be listed on Botswana Stock Exchange on April 8, 2016. “When the bell rings on 8th April at the BSE, we look forward to a new BTCL being born marking yet another important milestone for the business and indeed for Botswana. These are very exciting times ahead and we look forward to this bright new future,” said Taylor.
“It needs to be borne in mind that the Offer Period is open until the 4th of March 2016, and applications are being received until then. This means Batswana need not rush, as shares will not be distributed on a first come first served basis.”
Through the IPO government will hold a total of 49 percent of the company’s shares, 44 percent are available for purchase by citizens and citizen companies and the remaining five percent is reserved for BTCL employees through a Trust.
Taylor also explained that BTCL has about 930 employees and about 600 have applied for the shares. BTCL was converted to a registered public company limited by shares in 2012 and some of its assets were given to newly-formed Botswana Fibre Network (BoFiNet) to manage and operate on behalf of the government.
Some of the assets retained by BoFiNet include the East African Submarine System (EASSy) and the West African Cable System (WACS).
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.
Batswana’s sorry lives
Tobacco also kills non-smokers
YOGA AN EFFECTIVE TOOL TO FIGHT NCDS
‘Bogadi is not Setswana culture’ – KgosiKwena Sebele
“Send him to prison”
Business Botswana media sectors calls for media levy
News3 weeks ago
Bushiri’s followers in Botswana unfazed
News3 weeks ago
Lawyers turn Gaborone South into their electoral battlefield
News4 weeks ago
Woman raped by another woman in BMW
News4 weeks ago
Batswana refuse to snitch
News5 days ago
Alleged thief attacked in Gabane this morning
News7 days ago
Ian Khama’s ‘blue-eyed boy’ Nkarabang kicked out of OP
Columns3 weeks ago
Kgosi cannot go down alone
News2 weeks ago
UB ’s academic shame