Botswana Telecommunications Corporation (BTC) is projecting a profit-before-tax ranging from P143 million to P150 million for the six-month period from March to September 2024, reflecting a robust financial performance.
This week, the BTC Board of Directors confirmed that the company’s profit before tax for the period is expected to be 52% to 57% higher, translating to an increase of P50 million to P57 million over the P93 million recorded in the same period of 2023.
In its financial review for the 12-month period ending March 2024, BTC reported revenue growth to P1.436 billion, up from P1.4 billion for the year ending March 2023. The company’s asset value increased by 8%, reaching P3.281 billion compared to P3.03 billion in 2023. Additionally, earnings per share surged by 50%, and declared dividends rose by 15%. The company paid P42.5 million in taxes to the government, an increase from P30.7 million in 2023. BTC’s revenue streams include mobile revenues, fixed data (broadband), fixed voice revenue, and other services such as directory services, property rentals, third-party collection services, value-added services, digital services, and mobile money services (Smega).
BTC Board Chairperson Mokgethi Magapa highlighted the company’s improved operational performance amid economic challenges, attributing this to the 2023-2025 strategy designed to navigate post-COVID-19 commercial shifts. This strategy emphasizes digital transformation to enhance customer experience and seeks new revenue opportunities, according to Magapa.
Following the impressive financial results, the company plans to continue this strategic approach, concentrating on delivering customer-focused digital solutions, diversifying revenue streams, and protecting core revenue lines. “Diversification of revenue streams is critical; the business aims to reduce dependency on government revenue. We continue to grow mobile revenue through promotions and the implementation of a content strategy. We introduced broad-based revenue streams, delivered through the development of new products and the introduction of digital distribution channels,” stated Magapa.
BTC, the only publicly listed telecommunications operator in Botswana and the first state-owned enterprise to be privatized, boasts the highest citizen share ownership with over 40,000 Batswana retail shareholders. The Government of Botswana maintains a 54.16% stake in the company, which provides telecommunications services to consumers, enterprises, government departments, and large corporations.
