Vandalism, theft threatens BCL 10 billion Pula value
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Part of the reason why BCL was closed has been linked to corruption where millions of Pula were siphoned out of the organization – now the mine’s value is under threat because of catastrophic theft at various sites.
As hundreds of former BCL employees vacate company houses and relocate from Selibe Phikwe, some to return back to their respective villages, and others scout for opportunities elsewhere, vandalism and theft on BCL properties escalate every day. Information gathered by WeekendPost indicates that Vandalism and appliances theft at vacant BCL houses is on the rise. According to Selibe Phikwe Police Station Commander, Superintendent Victor Nlebesi, ever since former miners started vacating the houses some residents have embarked on an endeavor to vandalize and unplug valuable electric appliances from the houses.
Nlebesi who commands the area covering Number 3 and 4 Shafts as well as the central Selibe Phikwe which enclaves BCL Houses notes that the appliances targeted by the culprits include, Airconditioniers, geysers, kitchen fitting – mainly stoves. “We can’t quantify the worth of the damage and stolen material as of now, but we estimate it to be hundreds of thousands pulas,” he said.
“We are talking about high quality stoves, top notch air conditioners and electrical appliances made from valuable material stolen in significantly large numbers so far,” he observed. The Station Commander further observes that the appliances and stolen materials are resold here in Selibe Phikwe and surrounding areas at low prices.
“We are investigating the culprits who we believe to be Phikwe residents, and their customers are mechanical workshop operators and industrial dealers,” Nlebesi indicated in an interview with the media this past week. For theft occurring at the mine site, the Station Commander observed that his area of jurisdiction covers the number 3 and 4 shafts while the Number 1 and 2 under the policing of Botshabelo Police station.
According to Superintendent Nlebesi theft at number 3 shaft includes amongst others megawatts batteries, noting that in October alone, just after the decision to cease operation at the mine, over 20 batteries have gone missing. “20 batteries have been stolen from 3 shaft alone, in October alone and mind you this are batteries worth over P12 000 each, that means we looking at a value of over P100 000 worth of theft in October at just one site,” he explained.
For her part Superintendent Gothusamang Badubi, Station Commander of Botshabelo Police station, BCL main site and Shaft number 1 & 2 as well as stores and the lucrative smelter have not escaped the greed of the thieves. Although she provided sketchy information, Badubi observed that tool boxes and equipment are disappearing at the mine sites.
“We have registered that a number of tool boxes are missing at the main stores department,” she said not revealing the quantity of the boxes already stolen. “We are still investigating the matter but figures before us reveal that about 4 copper plates have been stripped from the smelter.”
Information gathered by WeekendPost reveal that copper plates are worth hundreds of thousands pulas each with one toolbox as per the current market price sitting at over P16 000 each.
The Station Commander noted that they are working with BCL Security for protection of the company properties. However according to a source close to the investigations and BCL current administration, some within the company’s security may be implicated in the ongoing crime. “Some of the BCL security personnel and staff from the retained 400 are being questioned by the police,” indicated a source who preferred anonymity
BCL was put on provisional liquidation by its main and only shareholder, Botswana Government on October 7 this year, with mining operations halted on that date effective immediately. When addressing thousands of aggrieved workers this year October Tuesday 11th, just a day after Selibe Phikwe woke up to a shock of BCL dissolution, the Vice President, Mokgweetsi Masisi assured gatherers in Selibe Phikwe stadium that afternoon that the government will put in place strict measures to secure the mine properties especially the sites which comprises of a smelter arguably one of the best in the world worth almost 1 billion pula.
Masisi was responding to a cautionary plead from one miner during question and comments session. After his appointment Liquidator, Nigel Dixon Warren of KPMG immediately terminated contracts of over 4000 employees on the 31st of October 2016, with the last full salary received that month. Dixon Warren with the power bestowed upon him retained about 400 employees, mainly from the Human Resource Department, Information Technology, Security and a number of mechanical staff members and engineers for dewatering of the shaft, care and maintenance of the mine.
Dixon-Warren told this publication that time that the mine sites, equipment and properties needed to be protected and kept safe to maintain their value and worth which was an important factor in liquidation during selling and acquisition of the mine by potential new owners. BCL senior staff houses situated at the commonly known as “Tshaba Ntsa” suburbs are worth over 500 million pula alone. And the company is valued at over $800 million; with the most valuable asset being the smelter which was recently refurbished at a cost of over 700 million pula. Efforts to get views from the government enclave and current BCL administration were unsuccessful as Minister Sadique Kebonang’s phone rang unanswered while BCL liquidation team declined commenting on the matter.
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BTC launches the 3rd Francistown Marathon 2024 and handover proceeds to the 2nd Francistown Marathon beneficiaries
Botswana Telecommunications Corporation Limited (BTC) has announced that its 3rd Francistown Marathon will be held on Saturday 20th April 2024 at Obed Itani Chilume Stadium in Francistown. The BTC Francistown Marathon is officially recognised by World Athletics and a Comrades Marathon Qualifier will offer race categories ranging from 42.2km, 21.1 km, 10km, 5km fun run, 5km peace run for children and has introduced a 5km and 10km categories for wheelchairs athletics.
BTC also used this opportunity to announce beneficiaries who received donations from proceeds made from the 2nd BTC Francistown Marathon that was held on April 23rd 203. BTC donated a play area, plastic chairs and wooden tables for pupils worth a total of thirty eight thousand, one hundred and three pula, fifty thebe each (P38, 103.50) to Monarch Primary School, Tatitown Primary School, Mahube Primary School and Gulubane Primary School. Ditladi and Boikhutso clinics each received a donation of benches, television sets and 10, 000 litre water tanks worth thirty seven thousan, eight hundred and ninety eight pula (P 37, 898.00). Additionally, BTC also donated seventy thousand pula (P70,000.00) to their marathon technical partner, Francistown Athletics Club (FAC) which will be used for daily operations as well as to purchase equipment for the club.
The BTC Francistown Marathon aligns seamlessly with BTC’s corporate social investment programme, administered through the BTC Foundation. This programme is a testament to BTC’s dedication to community development, focusing on key areas such as health promotion. The marathon, now in its third year, not only promotes a healthy lifestyle but also channels all proceeds to carefully chosen charities as part of BTC’s commitment to impactful and sustainable projects.
Speaking at the launch, the BTC Managing Director Mr Anthony Masunga stated that the marathon underscores BTC’s commitment to community upliftment and corporate social investment. He stated that “the annual event which has been in existence since 2016, having taken a break due to the covid and other logistical issues, is instrumental to the economic upliftment of the city of Francistown”. He congratulated all the beneficiaries for having been nominated to receive the donations, adding that “the donation of proceeds from the 2023 marathon aims to highlight BTC’s commitment and heart for Batswana and our continued impact in the different industries”.
He further stated that through this marathon, “we demonstrate our steadfast commitment to having a good influence on our communities, this event is a manifestation of our dedication to promoting education and a healthier, more active society”. He concluded by stating that “BTC looks forward to another successful marathon that will leave a lasting positive influence on the greater Francistown community and the country at large” he said.
Giving welcome remarks, the Councillor for Donga, Honourable Morulaganyi Mothowabarwa stated that “he is ecstatic that BTC is collaborating with the City of Francistown on yet another installment of the Marathon”. He continued to offer his support to BTC to enable this marathon to continue over the coming years, stating that the “CSI element is a welcome development that helps empower our communities”, he said.
The 3rd BTC Francistown Marathon is officially open for registrations and athletes may use the following platforms to register and pay; through Smega by dialling *173# and choosing opton 5, then choose Option 3 for the Francistown marathon, at any BTC store or by visiting the BTC website and clicking on the BTC Francistown Marathon and choosing the relevant options.
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Letsholo lauds President Masisi’s digitization in fight against corruption
Thapelo Letsholo, Member of Parliament for Kanye North, delivered a moving speech at the United Nations International Anti-Corruption Day commemoration, praising President Dr. Mokgweetsi Eric Keabetswe Masisi’s digitalization initiative in the fight against corruption. Letsholo highlighted the importance of embracing digitalization in governance as a crucial step in curbing corrupt practices.
According to Letsholo, the implementation of digital systems in government services can significantly reduce direct interactions between citizens and officials, which often serve as fertile grounds for corruption. By minimizing these opportunities for illicit activities, the efficiency and transparency of public services can be enhanced. Letsholo pointed to Estonia’s success in digital governance as an example, where public services have become more transparent, accessible, and efficient.
The MP commended President Masisi’s commitment to digitalization and E-Governance, emphasizing that it aligns with global anti-corruption standards. He called for full support and active participation from all sectors to ensure the success of this initiative.
Letsholo also stressed the importance of improving detection methods and refining whistleblower laws to effectively combat corruption. He highlighted the unseen and unspoken facets of corruption as its lifelines, emphasizing the need for robust detection mechanisms and a system that encourages and protects whistleblowers.
Addressing the societal role in fighting corruption, Letsholo focused on the crucial role of everyday citizens and civil servants who often witness corrupt practices firsthand. He acknowledged the existing reluctance to report corruption due to the perceived risks of repercussions. To change this narrative, Letsholo advocated for creating an environment where staying silent is deemed more detrimental than speaking out. He called for a cultural shift where the potential benefits of exposing corruption outweigh the risks, ensuring that whistleblowers are protected and feel secure in coming forward.
Letsholo called for collective responsibility and action in creating a system that not only detects and reports corruption but also supports those who stand against it. He expressed hope that under President Masisi’s digitalization initiatives, the future of governance in Botswana will be characterized by integrity, transparency, and accountability. Letsholo’s speech resonated with the sentiments of hope and determination that permeated the commemoration, emphasizing the need for unity in the fight against corruption.
In summary, Letsholo lauded President Masisi’s digitalization initiative in the fight against corruption, highlighting its potential to curb corrupt practices, enhance efficiency and transparency in public services, and align with global anti-corruption standards. He emphasized the importance of improving detection methods, refining whistleblower laws, and creating an environment where speaking out against corruption is encouraged and protected. Letsholo called for collective responsibility and action in creating a future characterized by integrity, transparency, and accountability in governance.
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FaR property assets value clock P1.47 billion
FaR Property Company (FPC) Limited, a property investment company listed on the Botswana Stock Exchange, has recently announced its exceptional financial results for the year 2023. The company’s property asset value has risen to P1.47 billion, up from P1.42 billion in the previous year.
FPC has a diverse portfolio of properties, including retail, commercial, industrial, and residential properties in Botswana, South Africa, and Zambia. The company owns a total of 186 properties, generating rental revenues from various sectors. In 2023, the company recorded rental revenues of P11 million from residential properties, P62 million from industrial properties, and P89 million from commercial properties. Overall, the company’s total revenues increased by 9% to P153 million, while profit before tax increased by 22% to P136 million, and operating profit increased by 11% to P139 million.
One notable achievement for FPC is the low vacancy rate across its properties, which stands at only 6%. This is particularly impressive considering the challenging trading environment. The company attributes this success to effective lease management and the leasing of previously vacant properties in South Africa. FPC’s management expressed satisfaction with the results, highlighting the resilience of the company in the face of ongoing macroeconomic challenges.
The increase in profit before tax can be attributed to both an increase in income and effective control of operating expenses. FPC managed to achieve these results with fewer employees, demonstrating the company’s efficiency. The headline earnings per linked unit also saw an improvement, reaching 26.92 thebe, higher than the previous year.
Looking ahead, FPC remains confident in its competitiveness and growth prospects. The company possesses a substantial land bank, which it plans to develop strategically as opportunities arise. FPC aims for managed growth, focusing on consumer-driven developments and ensuring the presence of supportive tenants. By maintaining this approach, the company believes it can sustainably grow its property portfolio and remain competitive in the market.
In terms of the macroeconomic environment, FPC noted that inflation rates are decreasing towards the 3% to 6% range approved by the Bank of Botswana. This is positive news for the company, as it hopes for further decreases in interest rates. However, the fluctuating fuel prices, influenced by global events such as the war in Ukraine and oil output reductions by Russia and other Middle Eastern countries, continue to impact businesses, including some of FPC’s tenants.
FPC’s property portfolio includes notable assets such as a shopping mall in Francistown with Choppies Hyper as the anchor tenant, Borogo Mall located on the A33 main road near the Kazungula ferry crossing, and various industrial and commercial properties in Gaborone leased to Choppies, Senn Foods, and Clover Botswana. The company also owns a shopping mall in Mafikeng and Rustenburg in South Africa.
The majority of FPC’s properties, 85%, are located in Botswana, followed by 12% in South Africa and 3% in Zambia. With its strong financial performance, competitive position, and strategic land bank, FPC is well-positioned for continued growth and success in the property market.