Botswana sparkles in Alexander Forbes' stable
Friday, August 02, 2013
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According to figures contained in its annual report, Botswana's contribution was the second highest after Namibia which made up 47 percent of the net revenues for the year. Kenya and Nigeria, contributed 17 and two percent respectively.Collectively referred to as AfriNet, Alexander Forbes' African operations also include Malawi, Mauritius, Swaziland, Tanzania, Uganda, Zambia and Zimbabwe. The AfriNet cluster contributed five percent to the group's net revenue during the year, up from four percent the previous year. According to the annual report, Alexander Forbes' Botswana operations recorded a 24 percent increase in revenue during the review year and 26 percent year on year growth in trading profit.
"In the year under review, I am delighted that an above average growth rate in earnings has been achieved, despite the challenging economic and political environments in the various countries which we serve," said AfriNet managing director, Luendran Pilay."The year under review was a year of recovery and repositioning and this is likely to continue into 2013/14. Further geographic expansion into Africa is likely to follow an Anglophone footprint, building on language, cultural and legislative synergies with our core markets of the Southern African Development Community, Kenya and Nigeria".
These roads, which are vital conduits for trade and tourism, have long been in dire need of repair. However, while this development is undoubtedly a positive step, it also raises questions about broader issues of infrastructural management and road safety that deserve closer scrutiny.The A3 and A33 roads are not just any roads, they are critical arteries that connect Botswana to its neighbours and facilitate the movement of goods and people...