Pilane Mall licensing issues cost PrimeTime P2m

Costly hurdle: Kelly says delays cost the company PIC: MORERI SEJAKGOMO
Costly hurdle: Kelly says delays cost the company PIC: MORERI SEJAKGOMO

A trading licence standoff that occurred last year between government and PrimeTime Property Holdings with regard to Pilane Crossing Mall has cost the latter P2 million, the latest annual financials show.

Presenting the financial results for the year ended August 31, 2017, PrimeTime managing director, Alexander Kelly said the tenanting of Pilane Crossing has been a hurdle with partial settlement of the widely reported trade licence problem only being achieved more than a year after the centre opened.

“With several large shops standing empty for months, this has put pressure on the initial tenants in the centre and we thank them for their tolerance in this regard,” he said.

Editor's Comment
Botswana at a critical juncture

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...

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