Botswana will float shares of the state run Botswana Telecommunications Corporation Limited on the local stock exchange this year. The government will retain 51% of the shares.
The announcement is contained in the 2015/16 budget presented to parliament in Gaborone on earlier this month by finance minister, Kenneth Matambo.
Botswana Telecommunications is part of a number of state companies that will be privatised, Matambo said.
“The privatisation process was at an advanced stage with expected Initial Public Offering (IPO) in the first half of 2015,” Matambo said.
Through the IPO, shares will offered to citizens and Matambo said this will empower them as they become part owners of the company. He said 5% of the shares will be offered to employees.
The company, which was established in 1980 was converted from a statutory body into a public company limited by shares in 2012.
The services offered by the company include broadband, leased lines, ISDN, PABX and VSAT.
