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On April 8th 2016 BTCL became Botswana’s first listed telecommunications company after successfully concluding an IPO that raised BWP462 million through the sale of 462,000,000 shares at BWP1.00 per share. The offer, which was only open to locals, began on January 11th 2016 and closed on March 4th 2016. On the first day of trade the shares rose +30% to close at BWP1.30 per share.

Established in 1980, BTCL was set up to provide, develop, operate and manage Botswana’s national and international telecommunications services. It was the only telecommunications provider in Botswana until 1996 when an amendment to the Telecommunications Act paved the way for other service providers to enter the market. Currently there are three service providers in Botswana’s mobile market namely Mascom (55%), Orange (28%) and beMobile (17%), which is 100% owned by BTCL. beMobile contributes 38% to BTCL’s total revenue while other business segments i.e. access lines, national calls and other revenue contribute 7%, 16% and 39% respectively.

Post the IPO the government of Botswana retained a 51% stake as well as the Trans-Kalahari Optic Fibre Network, the Gaborone-Francistown Loop and other backbone infrastructure assets and contracts.

The public holds a 44% stake while the remaining 5% is being held by BTCL employees in an employee share trust. 

 

Source: LiquidAfrica

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