After months of speculation and waiting, prospective investors of Botswana Telecommunications Corporation Limited (BTCL) can now go into Christmas fiesta, well aware that the company share price will be priced at P1, 00.
This is according to fresh information contained in the minutes of the Public Procurement and Asset Disposal Board (PPADB) sitting of December 3, 2015. According to the documents, Public Enterprise Evaluation and Privatisation Agency (PEEPA), through finance ministry has submitted an application for the Enterprise Value and Share price of BTCL.
The submission has since been approved by the PPADB board, which puts the share price of the state telecoms company at P1, 00 and its value at P800 million. Speaking to Business Trends on Tuesday, transport and communications minister, Tshenolo Mabeo said he is aware that the company’s value and Initial Public Offer (IPO) share price has been concluded. “We want to launch the process (of the IPO) before the end of December,” disclosed the minister.
The IPO is launched at a time when most prospective consumers and investors have already committed their funds for December period. Mabeo said he is aware of that and the IPO will run for eight weeks, with possible extension so as to ensure all interested parties are given a fair chance of taking part in the whole process.
Previous valuations of BTCL stood at well over P2 billion. Is the current P800 million a fair value of the government parastatal? “Remember, at some point some assets of BTCL were separated to form BoFiNet. This means some of these assets have been transferred to the new entity. In valuing BTCL we have appointed a team of professionals. Who am I to doubt them?” he asked rhetorically.
BoFinet is a government-owned company, which sells wholesale telecommunications services to providers in the country. The IPO process of BTCL has been rigorous. Relevant stakeholders such as Botswana Stock Exchange (BSE), PPADB, BTCL, finance and development planning ministry, have been consulted, said the minister.
The BTCL listing has been delayed for several years now. The completion of the valuation of the fixed and non-fixed telecommunications company paves way for its subsequent listing at the BSE.
The actual listing is likely to be conducted in the first quarter of the next year. It will be the first of its kind in which a government entity is being part-sold under the privatisation process. Under the approved BTCL Transitional Act, 49 percent of the company will be ceded to local investors.
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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