馃嚙馃嚰BotswanaSouthern Africa
Turnstar Holdings forecasts 22% profit decline due to weaker property valuations
via Mmegi1 min read
Turnstar Holdings, a BSE-listed property group, has informed shareholders to expect a 22% decrease in full-year profit before tax, projected to be P146.6 million for the year ending January 31, 2026, down from P188.6 million in the previous year. The company attributed this decline primarily to a significant reduction in fair value gains on its investment property portfolio, with fair value adjustments decreasing by approximately P38.7 million. This reduction is a result of higher discount and capitalization rates applied to its Botswana assets, reflecting a more cautious outlook on property income streams amid tightening financial conditions and shifting market dynamics in Botswana's real estate sector. Despite the projected drop in overall profitability, Turnstar's core operations showed resilience, with operating profit declining only marginally by 0.78%, indicating stable rental income and occupancy levels across its portfolio. The company noted that its underlying operational performance remains stable, even as Botswana's property sector faces a challenging macroeconomic environment characterized by tighter liquidity, rising interest rates, and reduced investor interest in real estate assets.
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Former Botswana Democratic Party BDP secretary-general Kavis Kario is reportedly being considered by party structures in Maun West as a potential parliamentary candidate for the 2029 General Election. This development comes as the BDP aims to regain constituencies lost in the 2024 polls, with some party members advocating for early campaign preparations. BDP president Mpho Balopi previously suggested holding primary elections two years before the general election to allow candidates more time to establish themselves. Sources indicate Kario has been meeting with local party structures after transferring his membership to Maun West from Ngami. While no official endorsement has been made, influential members are reportedly supporting him. Proponents of this early engagement believe it allows candidates to familiarize themselves with the constituency and build relationships with residents. However, some BDP members express concern that openly lobbying for one candidate years before the primaries could create an uneven playing field and discourage other aspiring contestants, potentially impacting internal democracy. Kario declined to comment on the speculation, calling it an internal party matter.
A group of 168 residents from Bodungwane, led by Ompegile Ratsie, Gofaone Leburu, Lorato Leburu, and Bonolo Modise, has filed an urgent application with the High Court to prevent their eviction from land they claim their families have occupied for over a century. The residents, represented by Ndzinge Makhamisa Law Group, are challenging the Kgatleng Land Board, the Bodungwane Farmlands Borehole Syndicate, seven members of the syndicate, and Deputy Sheriff Lotty Manyepetsa. In an affidavit before Justice Ranier Busang of the Lobatse High Court, Ratsie states that the threatened eviction violates their constitutional rights and disregards legal procedures requiring a hearing before removal from occupied land. The residents assert that their homes, livestock, fields, and graves are in Bodungwane and they have no alternative place to go. They trace their occupation back to approximately 1901 when Kgosi Isang Pilane reportedly allocated the land to their ancestors under customary law. Ratsie argues that the applicants are descendants of Basarwa families who have continuously occupied the area since before the modern land administration system was established, and the lack of formal Land Board allocation certificates does not render them illegal occupiers.
The Botswana Congress Party BCP is experiencing significant internal divisions as it prepares for its elective conference. Once known for calm internal contests, the main opposition party is now marked by open factional battles and public campaigning by rival teams, raising concerns about unity before the 2029 General Election. The conference will elect new national leadership, with members appearing more divided than in the past. The BCP's tradition of avoiding personal attacks during internal elections has eroded due to open rivalry, with competing camps mobilizing support through organized teams, public meetings, and media engagements. Appeals from senior party leaders for issue-based campaigns have had little impact, as campaign rhetoric has intensified. A key contest is for the vice president position, where incumbent Taolo Lucas is defending his role against Member of Parliament Unity Dow. Dow's supporters, campaigning under the slogan "Re Motia," advocate for fresh leadership to reposition the BCP for the 2029 national polls, believing new faces will attract voters and strengthen electoral prospects.