BDC doubles profits to P224m
Wednesday, December 07, 2016
The corporation, which is the government’s investment arm, posted overall PBT of P224 million in the year to June, which is a 104% increase from P110 million a year earlier.
BDC’s drive to increase its profile saw it instituting a major review of the business under the re-modelling programme in order to address major challenges facing the business.
While the political shift brings hope for change, it also places immense pressure on the new administration to deliver on its election promises in the face of serious economic challenges.On another level, newly appointed Finance Minister Ndaba Gaolathe’s grim assessment of the country’s finances adds urgency to the moment. The budget deficit, expected to be P8.7 billion, is now anticipated to be even higher due to underperforming diamond...