{"id":26806,"date":"2023-05-10T08:44:56","date_gmt":"2023-05-10T08:44:56","guid":{"rendered":"https:\/\/www.africa-press.net\/botswana\/all-news\/bdc-reports-a-loss-but-aims-higher"},"modified":"2023-05-10T08:56:36","modified_gmt":"2023-05-10T08:56:36","slug":"bdc-reports-a-loss-but-aims-higher","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/botswana\/all-news\/bdc-reports-a-loss-but-aims-higher","title":{"rendered":"BDC reports a loss, but aims higher"},"content":{"rendered":"

Africa-Press – Botswana. <\/strong><\/span>The government investment arm, Botswana Development Corporation (BDC), has reported a loss on the back of high expenses and underperformance from some of the subsidiaries, according to the financial statements for the year ended June 2022.<\/b><\/p>\n

The company reported a loss of P13 million compared to 2020\u2019s profit of P35 million, though revenue was up by 16 percent to P371.5 million against the prior year\u2019s P321 million. The increase in revenue was bolstered by interest income that increased by 34 percent while dividend income declined by 48 percent, reflecting BDC\u2019s shift from equity to debt investments.<\/p>\n

However, operating expenses soared to P407 million as the investment company encountered adverse market forces, resulting in 30 percent jump in high finance costs, as well as valuation impairments of equity investments. BDC attributed the developments to global increases in interest rates, as well as full draw down on approved facilities.<\/p>\n

In April 2019, BDC a huge capital injection after the African Development Bank Group (AfDB) approved a line of credit to the state-owned investment entity. The $80 million or P858 million-credit extension was approved through AfDB\u2019s private sector window, and the funds will be used by BDC to fund local companies involved in manufacturing, transport, logistics and services sectors.<\/p>\n

BDC\u2019s balance sheet grew by 18 percent to P5.26 billion last year, and the corporation has cash balance of P581 million.<\/p>\n

Looking ahead, BDC says its transformational approach is to invest locally in large-scale export oriented businesses, with focus on citizen economic inclusion. Additionally, BDC will invest globally in high return commercial and strategic projects, which will integrate Botswana into the world economy through key partnerships with global economic players.<\/p>\n

\u201cBy pioneering industries and unlocking value in untapped sectors across Botswana, BDC is well positioned to explore the full potential of the country and create opportunities where they have been lagging. In addition to futuristic aspirations, the corporation has several key mega projects in its pipeline that are set to contribute significantly to Botswana\u2019s economic growth and diversity,\u201d said Cross Kgosidiile, BDC\u2019s managing director.<\/p>\n

\u201cThese projects are not only designed to generate long-term returns for the corporation but will also bring about significant socio-economic benefits for the people of Botswana. As such, they are a crucial component of the corporation\u2019s forward-thinking approach, and their successful realisation will be a huge part of its history of success.<\/p>\n

For More News And Analysis About Botswana<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Botswana. The government investment arm, Botswana Development Corporation (BDC), has reported a loss on the back of high expenses and underperformance from some of the subsidiaries, according to the financial statements for the year ended June 2022. The company reported a loss of P13 million compared to 2020\u2019s profit of P35 million, though […]<\/p>\n","protected":false},"author":84,"featured_media":26805,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,12],"tags":[233,237,234],"class_list":["post-26806","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-policy","tag-africa-press","tag-africa-press-botswana","tag-botswana"],"yoast_head":"\nBDC reports a loss, but aims higher - Botswana<\/title>\n<meta name=\"description\" content=\"The government investment arm, Botswana Development Corporation (BDC), has reported a loss on the back of high expens ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/botswana\/all-news\/bdc-reports-a-loss-but-aims-higher\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BDC reports a loss, but aims higher\" \/>\n<meta property=\"og:description\" content=\"The government investment arm, Botswana Development Corporation (BDC), has reported a loss on the back of high expens ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/botswana\/all-news\/bdc-reports-a-loss-but-aims-higher\" \/>\n<meta property=\"og:site_name\" content=\"Botswana\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-10T08:44:56+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-10T08:56:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/botswana\/sites\/38\/2023\/05\/postQueueImg_1683690343.47.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1620\" \/>\n\t<meta property=\"og:image:height\" content=\"1080\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/bdc-reports-a-loss-but-aims-higher#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/bdc-reports-a-loss-but-aims-higher\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"BDC reports a loss, but aims higher\",\"datePublished\":\"2023-05-10T08:44:56+00:00\",\"dateModified\":\"2023-05-10T08:56:36+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/bdc-reports-a-loss-but-aims-higher\"},\"wordCount\":410,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/bdc-reports-a-loss-but-aims-higher#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/botswana\/sites\/38\/2023\/05\/postQueueImg_1683690343.47.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Botswana\",\"Botswana\"],\"articleSection\":[\"all news\",\"policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/botswana\/all-news\/bdc-reports-a-loss-but-aims-higher#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/bdc-reports-a-loss-but-aims-higher\",\"url\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/bdc-reports-a-loss-but-aims-higher\",\"name\":\"BDC reports a loss, but aims higher - 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