- Tsaone Segaetsho
Botswana Fibre Networks (BoFiNet) has emerged as one of only five state-owned enterprises (SOEs) in Botswana to record consistent profits over three consecutive financial years.
The achievement was highlighted at the organisation’s recent Annual General Meeting (AGM), held in Gaborone. BoFiNet reported revenue of P376 million and service availability of 99.7% across its national fibre backbone, demonstrating its financial sustainability and operational resilience.
BoFiNet joins Botswana Housing Corporation (BHC), Botswana Vaccine Institute (BVI), Botswana Savings Bank (BSB) and Minerals Development Company Botswana (MDCB) as the only five parastatals to have maintained consistent profitability for three consecutive financial years.
BoFiNet said this week that it had remained profitable without government subvention, a testament to its financial prudence and operational resilience. The organisation said its performance demonstrated that commercial viability and the delivery of a national mandate could be mutually reinforcing.
During the AGM, BoFiNet also presented its first-ever Integrated Report, underscoring its commitment to the highest standards of reporting and corporate governance.
The organisation said the milestone reflected its dedication to providing a comprehensive account of how its strategy, governance, people, infrastructure and sustainability initiatives work together to create lasting value for its shareholder and the nation.
Speaking at the AGM, BoFiNet Chief Executive Officer Dr Geoffrey Seleka described the organisation as the backbone of Botswana’s digital economy.
“We are committed to building a resilient, relevant and sustainable entity. Our engagement with our shareholder today reflects our dedication to transparency and our deep-seated belief that we must create enduring value for the Government and all Batswana,” Seleka said.
“We are proud to have presented our first Integrated Report, which moves us beyond just reporting numbers to telling the complete story of how our infrastructure, people and strategic decisions are powering Botswana’s digital transformation.”
Seleka also highlighted the strategic importance of the Digital Delta Data Centre, describing it as a cornerstone of the country’s data sovereignty and a key driver of future revenue diversification. The facility is expected to position BoFiNet as a regional leader in digital infrastructure.
BoFiNet Board Chairman Molemisi Nelson Sechaba said the Board remained confident in the company’s strategic direction and was focused on optimising operational efficiencies while ensuring that BoFiNet remained financially sustainable and fulfilled its national mandate.
“Adopting integrated reporting underscores our commitment to operating at the highest levels of governance. We are proud to lead an organisation that is not only performing well, but is also creating sustainable value and positioning Botswana as a leader in the regional digital landscape,” Sechaba said.
