10 Sep 2020

Botswana Development Corporation (BDC) has invested over P266.6 million in the hotel industry with a maximum of five  hotel companies in Botswana.

Assistant Minister of Investment, Trade and Industry Mr Molebatsi Molebatsi  told Parliament on September 9 that the hotel companies included Peermont Global (Botswana) Limited  with equity shareholding of  40 per cent valuated  P59 million as at June 30 2019. Another hotel company, Cresta Marakanelo with equity  shareholding of  27 per cent and valued at P67.8 million while Mashatu Nature Reserve (PTY) Ltd equity shareholding was 30 per cent and valued at  P97.7 million as at June 30 2019. 

Mr Molebatsi said that BDC had invested by way of debt in two hotel companies being Gloryland Guest Lodge and Thakadu&Kwena Hotel.  Both companies loan valued at P29.3 million and P13.5 million as at June 30, 2019 respectively.

According to Assistant Minister Molebatsi the hotel industry  with a capacity of  1 499 rooms had created employment for over 1 700 Batswana.

However, he  said the  industry was one of the most impacted by coronavirus with the portfolio average occupancy rate dropping from 53 per cent in December 2019 to 23 per cent this year. 

This, he said would have a negative impact on the value of investment.

He was answering a question from Selibe Phikwe East legislator, Mr Kgoberego Nkawana who had the minister  to state the names of hotels and lodges in which BDC was a shareholder and the type and value of shareholding that BDC had in each of the hotels and lodges. BOPA