Botswana Development Corporation (BDC) is quietly reshaping its balance sheet, selling underperforming assets and redeploying capital into new investments as part of an ambitious strategy to transform itself into a larger development-finance investor.
The corporation disclosed that its asset-recycling programme released P614 million from underperforming and non-core exposures during FY2026. A further P388 million of group assets had been classified as held for sale by year-end.
The disposal drive has become one of the defining features of BDC’s turnaround strategy. Capital that had been tied up in mature or underperforming investments is being redirected into new projects aligned with Botswana’s Economic Transformation Programme (BETP).
The effect is visible in the balance sheet. Company investment assets increased 9% to P3.17 billion from P2.91 billion, despite ongoing disposals.
Total group assets grew to P6.3 billion from P5.85 billion, while company net worth rose to P2.29 billion.
The programme is also generating cash. BDC reported that proceeds from disposals contributed to dividend income of P239 million, helping lift company revenue and support its return to profitability.
The programme is also generating cash. BDC reported that proceeds from disposals contributed to dividend income of P239 million, helping lift company revenue and support its return to profitability.
At the same time, the corporation has aggressively expanded its investment pipeline. During the year it disbursed P855 million, with 62% directed toward established, cash-generative counterparties.
Among the flagship investments is Milk Valley Farm, an integrated dairy project that BDC hopes will become a model for import substitution. The corporation has invested in modern farming infrastructure and imported more than 600 Girolando dairy cattle from Brazil, with commercial milk production expected to begin in FY2027. The corporation’s bigger strategy calls for P5.5 billion of investment by 2031 and the creation or support of 25,000 jobs. To finance that ambition, BDC has secured a new funding facility from the Arab Bank for Economic Development in Africa (BADEA) and plans to deploy a further P1.39 billion over the next two years.
