07 Oct 2014

Exciting investment opportunities await Batswana at the Botswana Telecommunications Corporation Limited (BTCL).

A project, dubbed Initial Public Offering (IPO), would offer Batswana an opportunity to own a business piece in the telecommunications industry. An Initial Public Offering was was set to start in November.

Speaking at the BTCL Pitso on October 6, Minister of Transport and Communications, Mr Nonofo Molefhi said government was offering 49 per cent of the shares of BTCL through this IPO, of which five per cent had been reserved for BTCL employees through an employee share ownership programme.

The remaining 51 per cent would be retained by government. The minister noted that the IPO presented a unique opportunity to Batswana as it provided an opportunity for the investing public and institutional investors in Botswana to participate in the telecommunications sector.

Minister Molefhi also said the IPO provided an opportunity to reduce government’s financial commitments and operational involvement in the telecommunications sector.

The IPO also provided an opportunity to enhance investors’ awareness and BTCL profile and an opportunity to ensure that the greater population of Batswana would be beneficiaries of the privatisation through maximising national ownership.

“Among some of the measures that will be undertaken to ensure Batswana participate in this historic event in large numbers, my ministry, PEEPA and BTCL have already commenced with a programme aimed at sensitising and educating the public on issues relating to the BTCL IPO,” said Mr Molefhi.

BTCL managing director, Mr Paul Taylor also noted that they offered an opportunity for ownership, empowerment, inclusion, and for the possibility of financial gain. He said they looked ahead to a bright future for all Batswana who would become owners of the incredible business.

Nonetheless, the Public Enterprises Evaluation and Privatisation Agency (PEEPA), led the implementation of the BTCL IPO and would continue to drive the project forward, in collaboration with the MTC. Ends