Mmegi

BTCL pays record dividend to government

Job done: BTCL declared a mega-dividend to government this week
Job done: BTCL declared a mega-dividend to government this week

Botswana Telecommunications Corporation Limited (BTCL) handed over a record dividend payment of P130 million to government this week, which holds majority equity in the listed entity.

The handover represents part of the total P263 million payout to all shareholders, the highest since BTCL’s 2016 listing on the Botswana Stock Exchange. The BTCL recently unveiled results for the year ended March 31 2024 showing a 35% increase in pretax profits to P200 million.

Speaking at the dividend handover, BTCL board chairperson, Mokgethi Magapa, highlighted the company’s strong year, despite challenging economic conditions.

Editor's Comment
Time to end informal sector fronting

The Francistown Umbrella Informal Sector chairperson, David Mbulawa, has highlighted this growing concern, revealing that many local traders are using their licences to facilitate the entry of foreign goods into the market at a fee.Fronting undermines the very fabric of our local economy. It allows foreign traders to exploit the system designed to benefit Batswana, using local licences to cross borders and sell goods at prices intended for local...

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