BOPEU in P30 million housing project for members
Monkagedi Gaothobogwe | Monday November 2, 2015 15:39
A similar project is beingmooted in Morwa, a 15 minutes drive from Gaborone on the A1 road.
The P30 million project, situated on a prime space just behind Bokamoso Private hospital, will see BOPEU constructing 500 housing units on a five-hectare plot.
BOPEU publicity secretary Emmanuel Tlale says through their investment arm, Babereki Investments, BOPEU have already concluded agreement for BOPEU Estates, and that their partners have agreed to develop the five-hectare plot for almost half the market price.
The housing units will be going for a song for BOPEU members, with the most expensive housing units costing just P495,000. A two-bedroomed housing unit will cost just P395,000, with a one-bedroomed house going for P295,000.
Tlale says BOPEU has already concluded mortgage deals with BancABC to finance their members’ purchase of the houses.
“ We are trying to alleviate shortage of accommodation for our members, and we realise government cannot fight accommodation problems alone”, added Tlale.
The BOPEU publicity secretary says his organisation found it fit to redistribute its wealth among the members.Tlale says BOPEU have grown from an asset base of P10 million in 2008 to more than P120 million today and it is the vision of the leadership of BOPEU to see to it that the membership benefits directly from their savings.
Tlale says BOPEU has also secured yet another bigger plot in Morwa ( 45 hectares), just 15 minutes drive from Gaborone. “ We want to replicate the same housing concept there, but we are currently on a feasibility study regarding source of funding for this particular project since the cost of land servicing will be very high. We are courting government as a partner in the Morwa project,” Tlale explains.
Tlale says another housing land has been secured in Francistown; a 159 hectare plot about four kilometres from Donga. He adds that BOPEU is currently working on a feasibility study regarding the development of the plot.
The sweet tidings come in the same week BOPEU is announcing that they will be giving away P1,000 to each member who opens a savings account with the newly opened BOPEU cooperative scheme, SACCOS. The first 10,000 BOPEU members will benefit from this initiative that will see a total of P10 million enriching the members.
BOPEU is also developing a shopping mall in Maun and Palapye, after securing commercial plots found viable for shopping malls. Another 28-hectare plot on the banks of the Okavango Delta will see BOPE investment diversifying into tourism activities. According to Tlale, BOPEU is currently looking for partners for tourism activities for its Okavango Delta plot.BOPEU also have invested P7.5 million by acquiring Khawa Lodge in Gantsi.
It is not only in housing and commercial plots where BOPEU seems to be excelling of late. Tlale says BOPEU’s low interest short term loans of maximum of P10,000, have now been raised to a new maximum of P20, 000 following the successful negotiation of a P200 million facility.