OIDUS FOCUS Registered at GPO as a Newspaper
BOTSWANA’S BUILT ENVIRONMENT NEWSPAPER | Vol 4, Issue 4 | MAY 2014 www.boidus.co.bw
2014 Royal Institute Financial Incentives and FIDIC 1999 Red Book & Letters: 14 The 03 The 17 Comments - A Fresh Look at the Appliof British Architects [RIBA] 07 Investment in Forest ConArchiCAD vs Revit [Linkedin London Awards
cation of Time Barring?
servation (Part 2)
Discussion]
P8.00 (Including VAT) BOIDUS FEATURE >
BSE Listed Property Companies 2013 Year End Feature and Analysis
BOIDUS EXCLUSIVE >
Buyout Results Shows Botswana’s Property Ripe for Investment by Kibo Ngowi
How To Invest In Listed Property Companies
Your guide to making investments in property stocks by Othata Batsetswe / Financial Inclusion Specialist & Project Coordinator / Principal Finance Administrator
PRIMETIME
TURNSTAR
LETLOLE
RDC
Highest Price (last 12 months)
235
Highest Price (last 12 months)
190
Highest Price (last 12 months)
193
Highest Price (last 12 months)
711
Lowest Price (last 12 months)
193
Lowest Price (last 12 months)
151
Lowest Price (last 12 months)
165
Lowest Price (last 12 months)
142
Market Cap
419,144,166
Dividend Yield
3.35
Market Cap
1,075,648,774
Dividend Yield
Market Cap
1.00
518,000,000
Dividend Yield
Market Cap
6.69
438,246,226
Dividend Yield
Property offers an attractive way to diversify an investment portfolio. Property can be classified into two investment categories; income property and speculative property. Income property
includes residential and commercial properties that are leased out and expected to deliver returns primarily from rental income. >>> CONTINUED PAGE 13
0.05
Source: Botswana Stock Exchange [May 2014]
Prime Plaza, Primetime
Game City, Turnstar
Game City Phase 4
artist impression - restaurant exterior
Understanding the New Town & Country Planning Act by Keeletsang P. Dipheko
Cresta Lodge, Letlole La Rona
Masa Centre, RDC
Botswana’s property Investment opportunities away from direct property investment (brick and mortar) include; funds that invest in a portfolio of listed property companies; unit trusts that invest in the underlying properties themselves; or shares in listed property companies. Boidus Focus features four of the five property listed companies through direct conversations with their Managing Directors to find out what is behind their companies impressive year end results. >>> CONTINUED PAGES 04, 05 & 13
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Registered at GPO as a Newspaper | Volume 3, Issue #2
Botswana’s Architecture design & Urban Landscape Newspaper | M A R C H 2 0 1 3 www.boidus.co.bw
NEWS | page 02
BUILDINGS | page 06
A Luta Continua on the Land Question Airport Roof Gone with the Wind
The Idea of Eco Cities: Need for harmony between policy and green initiatives
HOUSING | page 16
PRACTICE | pages 14, 18
Buy or Build a new Home: The Pros and Cons
Disentangling the Web – A Look at Infrastructure Project Management
NEWS | page 02
EDITORIAL | page 06
Regional News Feature - SA Property 3rd on Earth
Sustainability Today David Lessolle on Climate Change
EDUCATION | pages 15
PROF PRACTICE | page 16
How to Start Your Own Architecture Firm: 12 Tips From The Experts
The Role of Architecture In Humanity’s Story
Meet Botswana’s Young and Rising Star Architects
BOIDUS EXCLUSIVE >
NEWS | page 02
EDITORIAL | page 04
Letlole Larona Breaks Ground at the Kromberg and Schubert Botswana (Pty) Plant
Government to Promote Introduction of Residential Development into the CBD
SUSTAINABILITY | page 06
EDUCATION | pages 15
How ready is Botswana for the Inevitable Change towards Global Decarbonisation targets?
Guide to School Programmes: 2013 Built Environment Careers Guide
P8.00 (Including VAT) BOIDUS EXCLUSIVE FEATURE >
Event Feature: State of our CitiesCBD Executive Seminar Event
BOIDUS EXCLUSIVE >
Bringing together key CBD stakeholders such as landowners and developers to engage on issues that affect their developments and investment
Vincent Moapare, founder of Architects Collaborative; Pedriel Mokwadi Nyame, founder of Architects International; Moemedi Gabana, founder of Gabana Architects; Gorata Bontle Kgafela, founder of GBR Architects
“Public Piazza, Mixed Use Podium and Sky gardens coming to Gaborone”
Botswana’s Architecture Design and Urban Landscape Newspaper | J U N E 2 0 1 3 www.boidus.co.bw
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BOIDUS EXCLUSIVE >
Registered at GPO as a Newspaper | Volume 3, Issue #4
Botswana’s Architecture Design and Urban Landscape Newspaper | J U L Y 2 0 1 3 www.boidus.co.bw
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BDC FAIRSCAPE PRECINCT, The Realm of Splendor - Live, Work & Play With Breath taking Views
> 2014 CALENDAR EVENTS
OIDUS FOCUS
Registered at GPO as a Newspaper | Volume 3, Issue #5
by Kibo Ngowi & HK Mokwete
by Kibo Ngowi & HK Mokwete
by Kibo Ngowi & HK Mokwete
Guide to developing your multi-residential investment
FNB’s CBD HQ – Intelligent Corporate Architecture First National Bank (FNB) has moved into its newly built headquarters in Gaborone’s rapidly developing Central Business District (CBD). Located in plot 54362, the Head Office called First Place, boasts the banks’ “one-stopshop” capability. With an expansion of
Red East Construction: Award Winning Chinese Contractor
Demand is good, rentals are good and finance available. So here is how to develop. Q&A- Financier: We finance up
H. Killion Mokwete
by Kibo Ngowi
Investing in multi-residential development is becoming the next big thing in Botswana’s residential property market. Landowners and homeowners are realising that the bulk residential demand is in the middle-income bracket of earners, with income between P5, 000 - P15, 000 per month.
the office facilities accommodating all the Bank’s divisions such as Electronic Banking, Private Banking, Property Finance, WesBank, Firstcard to mention but a few, customers get a full bouquet of FNBB products under one roof. >>> CONTINUED PAGE 07
to 80% of the open market value, this depends on the valuation report contents and the location of the property. The deposit requirement is 20%.
by Kibo Ngowi / H. Killion Mokwete Boidus Focus sat down with the Managing Director of Red East Construction, a Subsidiary of the Zhengtai Group Mr Zhu Dexiang to try and understand what has set this Chinese construction
Q&A-Realtor: Demand is good for rentals with range of P2500pm to P4500pm for 2-beds units. Two beds units in areas like Ext. 5 or 11, Block 8, G west Phase 1 can go for as much as P6500pm (not furnished).
company apart from its counterparts and defied the perception of poor construction workmanship as a uniquely Chinese problem. >>> CONTINUED PAGE 07
>>> CONTINUED PAGES 07, 18
Birds-eye view
From top left, going clockwise: Moemedi Gabana [Gabana Architects], Gorata Bontle Kgafela [GBK Architects], Vincent Moapare [Architects Collaborative], Pedriel Mokwadi Nyame [Architects International]
Office of the President
Public Piazza
With stakes high in Botswana office market, Botswana Development Corporation’s Fairscape Precinct is set to raise the bar of what quality office space is by delivering an Agrade mixed use development which will see work, play and live become
reality in one area. The Iconic tower which has been slowly emerging off the skyline of Fairgrounds is setting unmissable view of a gleaming honey comb lattice structure with unparalleled
views from across the City. Boidus was recently given exclusive tour of the construction site to experience first hand this exciting project as it becomes reality. >>> CONTINUED PAGES 08, 13
The Relocation of the Office of The President Is it the Right Move Or Not? by HK Mokwete
The current debate in parliament over a budget allocation request of P195 million for the purposes of augmenting funds to either- acquire or build a new office block to house the Office of
the President (OP) is missing the bigger picture of what should be debated when procuring the office space for the ‘Highest Office in the Land.’ >>> CONTINUED PAGE 04
Bold, New, Fresh Design Ideas
Reviewing the best UB Graduating student 2013: Ndaboka Mothobi
by Kibo Ngowi
Top Left: Vincent Moapare, Top Right: Moemedi Gabana, Bottom Right: Pedriel Mokwadi Nyame, Bottom Left: Gorata Bontle Kgafela
Botswana’s architecture profession has come of age since the first qualified Motswana architect returned home in the early 1980s. The second generation of qualified architects, who were all trained abroad in Canada, USA and
UK is slowly taking shape and making its presence felt in the local scene. These architects, confident and ready to raise the game, have started their own design firms and are slowly making landmarks across the Botswana
built environment landscape. Boidus Focus sat with some of these rising star architects to find out what drives their design philosophies and to showcase designs from their firms. >>> CONTINUED PAGES 04, 08, 13
Ndaboka Mothobi’s final year thesis project was not only graded the best, but it presents a breath of fresh air to the creativity that defines the best of what architects can do. JOHANN WOLFGANG VON GOETHE once described architecture as ‘frozen music’ and for those who share this icon’s view of architecture as an artform, Ndabo-
ka’s shattered rock layered building is a perfect example. Often the best time for unfettered creativity is when there are less and less barriers to imagination and school project design provides a haven for this. Boidus Focus sat down with the talented ‘Ndaks’ to discuss his exciting fresh thinking to architecture. >>> CONTINUED PAGE 14
Government to Promote Introduction of Residential Development into the CBD
Top: Guests and delegates at the CBD Event Bottom: Architect and Urban Designer Jo Noero from Noero Architects and University of Cape Town Right: Hon. Assistant Minister of Trade and Industry, Keletso J. Rakhudu, officially opening the event
The Boidus Media, State of our CitiesCBD Executive Seminar recently held at Masa Centre was by any measure a resounding success. The Seminar event brought together for the first time ever in Botswana, key stakeholders of the New CBD development such as investors, development owners, government, industry champions
and the public in sharing of ideas and opportunities about our upcoming CBD. Envisaged as the future heart of Gaborone City, the CBD is slowly taking shape and the seminar sought to make it a centre stage focus of discussions and professional deliberations. In this Boidus Focus Special, find event abstracts:
As you reflect on the ‘challenges and opportunities’ of developing a CBD, I would like to encourage all of you to think of this as what our generation will be remembered for having done, not only for this City, but for the nation, albeit through the toughest times. Assistant Min. of Trade & Industry, Hon. Keletso J. Rakhudu
Extract Seminar Paper Presentation by Jobe Ofetotse, DTRP
by Boidus Admin
A Successful CBD represents among other things; • A success CBD Image of the city and the country • Generation of the country’s prosperity • Successful partnership between the Government & PVT sector Dimitri Kokinos: Portfolio Structuring Manager (Stanlib)
>>> CONTINUED PAGES 08, 13, 18
FIND CREATIVE
Introduction Thank you to the organizers for inviting DTRP to contribute to this important and highly topical seminar. In organizing it, BOIDUS have directly responded to our concern that it is easy to be critical and identify perceived
TO COMMERCIAL
ANSWERS QUESTIONS.
IDEAS EXPO BOTSWANA is an event designed to combine the best of creativity, business and technology in which participants are invited to give talks, do demonstrations, and show their work. Renowned experts in branding, business and marketing.
Interactive session for learning and networks.
Exhibition with the latest innovation.
Certification of attendance.
Latest trends and technology.
The Town and Country Planning Act 2013 finally came into effect in April 2014 and arrived at a time when the changes it has made to development terms are sorely needed. The new Act allows the Local Authorities to process applications for certain uses at differing levels while others are determined by the Department of Town
failings of the CBD concept but more challenging to come up with solutions where problems have been identified. That is what we hope the seminar will concentrate upon. From a DTRP standpoint, the forum >>> CONTINUED PAGE 04
Boidus Roadshow 2014
CBD Executive Seminar June 2014
Property Breakfast Seminar September 2014
P500
(FOR BOTH DAYS)
June 21-22
University of Botswana
P300
student price for both days
*PRICE PER DAY FOR INDIVIDUALS OR PAY P500 FOR BOTH DAYS. FOR INDIVIDUAL AND CORPORATE TICKETS CONTACT +267 72 49 51 71
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and Regional Planning (DTRP). Boidus Focus met with the DTRP Director Mr. Kebonyemodisa Ooke to gain insight on the implementation of the new Act. The past Act had severe limitations which hindered people from planning and developing their >>> CONTINUED PAGE 18
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BOIDUS FOCUS May 2014
Land Board Expected to deliver despite limited resources by Keeletsang P. Dipheko
KAZUNGULA BRIDGE MAY POSE THREAT TO SMALL BUSINESSES by Boidus Admin
expected to use their resources prudently as they allocate land to reduce the enormous back log. However the task of managing limited resources has only been made harder for the land boards by constant pressure from fast growing human and animal populations competing for land.
In a bid to support the implementation of the revised Town and Country Planning Act 2013 the Ministry of Lands and Housing is now hosting orientation workshops to welcome and familiarise new land board members with land allocation issues. During one such workshop recently held in Gaborone, land board members were encouraged to utilise the limited resources available to maximum use when allocating land to clients. “There has been a shortage of resources and the current economic climate has only worsened the situation,” said Lands and Housing Minister Mr. Lebonaamang Mokalake when speaking at the workshop. Despite the limited resources Mr. Mokalake underscored the need for land boards to adhere to government’s ten-point agenda which is a guiding principle to improve service delivery. He said the land boards are therefore
Another factor which has further complicated the situation is that of corruption. “Corruption is a disease that needs to be nipped in the bud,” declared Mokalake “We have in the recent past experienced illicit land transactions involving both members and staff forming networks with land grabbers. This has resulted in some of the perpetrators losing their membership or employment.” Members of the board and secretaries are expected to desist from allocating land without the minister’s approval, to be vigilant to avoid the pitfalls of corruption and also to report any sign of corruption to their superiors. The minister urged the board members to be strict and take action against the corrupt officers, adding that officers should declare interest in order to be fair. Additionally, the minister mentioned that delays in providing feedback to clients is a serious problem and concluded that negative feedback given promptly is better than leaving clients to wait years to receive positive feedback.
In an effort to speed up travel between the two nations’ entry points, Botswana and Zambia have entered a joint venture to build a 923-metre-long overpass dubbed Kazungula Bridge. The only passage between the two countries in Kazungula presently available is a ferry that carries thousands of travelers across the waters each year. Truck operators have met the news of Kazungula Bridge with great anticipation as they feel it is long overdue but some Kazungula residents have received the development with anxiety. For years Kazungula residents have been selling food, vegetables and related products to truck drivers crossing to and from Botswana through the ferry border post so the construction of a bridge poses a threat to these vendors’ livelihood. Though the construction of the bridge would greatly relieve congestion of trucks heading to and from countries and the better part of the Lakes, the development is now a source of contention for those doing business in the area. According to vendors the bridge is a welcome development for truck drivers, logistical companies and the responsible politicians fighting for re-election but
not for them who are running small businesses. At the moment truck drivers spend almost four days waiting for their vehicles to be cleared and hence survive by buying food from surrounding businesses. Vendors say the construction of the bridge is a total drawback for their businesses which will end the operations of businesses around the bridge. Meanwhile, construction on the bridge was originally scheduled to commence in March 2014 with completion expected in early 2018 but commencement has now been rescheduled to July this year. The bridge will consist of two one-stop border posts on either side, which will prevent the formation of long queues of motorists on the bridge itself. This will improve the lives of thousands of people who currently rely on a ferry to travel between Zambia and Botswana. School children and breadwinners presently wait for up to four hours to cross the bridge but the new bridge will greatly reduce the time required for the trip between the two countries.
Engineers Registration Regulation for 2014 in Progress by Keeletsang P. Dipheko
The Engineering Registration Board (ERB) reached another milestone in its storied history on the 6th of May when it held its first consultation workshop on the amendment of the Engineers Registration Act. The first amendment since it was signed into law in 1991 was made in 2008 and the second was made in 2013. The workshops are orientated to solicit feedback and input from relevant stakeholders as well as to reflect on the engineering fraternity’s beliefs. “The workshop is to provide an opportunity for the exchange of ideas among practitioners and for ensuring the end product truly endures,” ERB Chief Executive Officer Mr. Armando Vasco Lionjanga told Boidus Focus. Speaking at the workshop he highlighted that the ERB was launched by the current Minister of Infrastructure Science and Technology Mr. Johnnie Swartz, and interested parties were informed to provide regulation of engineers. Lionjanga added that the ERB board is going through a transition period expected to run for 12 months and ending on the 31st of August this year. During the transition period the consultation workshops will be ongoing, inviting stakeholders to help develop legislation. Presenting on the Background and Provisions
of Draft Regulations, the Standards Manager Mrs. Clare Mosarwa said the amendment will be called ‘Engineers Registration Regulations, 2014’. The regulations are divided into five parts as follows: REGULATIONS PART I: Defines engineering documents, graduate engineer, Improper or disgraceful conduct, Professional engineering services and Professional engineering work. REGULATIONS PART II: Prescribes categories of registration; • Professional category: engineer, engineering technologist, engineering technician and licensed engineer. • Graduate Category: engineer, engineering technologist, engineering technician It also outlines the disciplines of registration, Civil, Electrical & Electronic, Mechanical, Mining, Industrial, Chemical, Metallurgical, Aeronautical, Agricultural Engineering plus any other. The regulation prescribes application forms for professional category, graduate and temporary registration. It includes reference to fees applicable and provides for the Board to request for more information from applicants. Furthermore, the Registration has made refer-
ence to the contents of a Registration Certificate. There is the Disqualification from registration that allows for registered engineers who are found not to have the relevant competencies to be disqualified., It also stipulates that the Board has power to refuse or defer applications and that the engineer can re-submit his application after 12 months from the time of refusal. The Registration provides for determination of fees, conditions for withdrawal of application by ERB and six months for re-submission of withdrawn application and exceptions to be the discretion of the Board. There can also be the removal of the name from the register as well as restoration to the register depending on the Act. REGULATIONS PART III: This regulation provides for application for practising certificates as required by section 19(1) of the Act and also provides for prescribed fees for such. It empowers the Board to refuse to issue a practising certificate. Removal from register renders certificate obsolete and refusal can be appealed to the High Court. Practising without a certificate attracts fines in accordance with section 19(6) and 19(7). REGULATIONS PART IV: The regulation includes
Professional conduct to develop Code of Conduct and ethics in consultation with Minister. Secondly is Inquiry to be held – complaint, charge or allegations can be brought by any person. The Board appoints an investigation committee, constituted by board members and other co-opted persons and will also charge engineers depending on the report by the investigation committee. The regulation provides the enquiry procedures to be followed during an inquiry and proceedings after hearing. However the decision of the board is not final so there can still be an appeal to the minister. REGULATIONS PART V: It prescribes fees for inspection of register and duplicate certificate and covers the publication of the names of engineers. ERB will publish quarterly in the Gazette, names of engineers in the register, those removed. Provides for an opportunity for the Board to issue an official rubber stamp, prescribes offences in relation to application for registration and provides for transition to these new requirements. ERB will host another consultation workshop in Francistown next week to ensure the end product enjoy the collective of all the relevant stakeholders.
BOIDUS FOCUS May 2014
International News Page 3
The 2014 Royal Institute of British Architects [RIBA] London Awards by Boidus Admin / Source: bdonline.co.uk The winners of the 2014 RIBA London Awards were announced in a ceremony last night. The awards recognize the RIBA London Architect of the year and 2014 RIBA Emerging Architect of the Year (Haworth Tompkins and RCKa, respectively) as well as a host of project awards which join other regional awards to make up the longlist for the 2014 RIBA Stirling Prize. Among the winners are Zaha Hadid‘s Aquatics Centre, which becomes the finalOlympics project to shoot for the Stirling Prize now that its seating wings have been removed; the Shard; the renovation of the Tate Britain by Caruso St John; and thetransformation of King’s Cross by John McAslan + Partners. Read on after the break for a full list of winners. • RIBA London Building of the Year: Saw Swee Hock Student Centre, London School of Economics / O’Donnell + Tuomey Architects • RIBA London Sustainability Award: Brent Civic Centre / Hopkins Architects • RIBA London English Heritage Award for Preserving the Historic Environment: Tate Britain, Milbank Project / Caruso St John Architects • RIBA London Small Projects Award: Tree House / 6a Architects • RIBA London Architect of the Year: Haworth Tompkins • RIBA London Emerging Architect of the Year: RCKa • RIBA London Client of the Year Award: London Borough of Hackney Local Education Partnership with Mouchel Babcock
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OTHER WINNERS: • Alex Monroe Studio, Snowsfields / DSDHA • Blackfriars Station Redevelopment / Pascall+Watson (stage C) & Jacobs (Stages D/E/F/K) • Brent Civic Centre / Hopkins Architects • Drapers Academy / Feilden Clegg Bradley Studios • Golden Lane / Amin Taha Architects • High Street 2012 – Historic Building Conservation Scheme / Julian Harrap Architects LLP • JW3 / Lifschutz Davidson Sandilands • King’s Cross Station Redevelopment / John McAslan + Partners
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BOIDUS FOCUS May 2014
BSE Listed Property Companies Year End Analysis by Kibo Ngowi
CONTINUED FROM THE FRONT PAGE
PRIMETIME PROPERTY HOLDINGS LIMITED
TURNSTAR HOLDINGS LIMITED “Because the growth potential in Botswana is so limited at the moment we are looking to become a true Africa fund but of course thorough due diligence goes into all our investment decisions,” said Abdoola. “So far we are happy with Tanzania and the policies regarding property there and Mlimani City has performed beyond our own expectations so we’re eager to intensify our operations.”
Kelly doesn’t believe the speculation that there is an oversupply of office space in Gaborone. What he sees is a trend in which tenants are moving from secondary office areas to more prime locations at a minimal increase in rental costs, particularly the many companies that have moved into office space in the new Central Business District (CBD). In his estimation the only areas that are likely to suffer from this trend are the oldest office areas such as those along Old Lobatse road but even then he’s confident there will be players who can move in to fill the gap.
Boidus Focus sat down with PrimeTime Managing Director Sandy Kelly to make sense of the property investment titan’s most recent financial results and its strategy going forward. PrimeTime Property Holdings Limited recently released its interim financial results for the sixmonth period ending 28th February 2014. The results were positive with investment properties valued at more than P550 million in total and revenue recorded for the period in excess of P30 million. Interest income reduced marginally to P5, 104 from P6, 566 while distribution per linked unit fell to P5.17 from P5.60 registered in the comparable six-month period ending 28th February 2013. Kelly explains that this negative trend can be attributed to three important factors – refurbishment of existing properties, reduction of rentals in some instances and the servicing of debt. PrimeTime undertook refurbishment of many of their buildings across the country in order to keep them in good quality. For instance their building which houses Gantsi Spar was refurbished at a cost of P1.5million and Spar has just extended their lease by another 10 years. At the same time they’ve reduced the rentals for some of their tenants especially with regards to their buildings in the Gaborone Main Mall and this has been done in exchange for extending the leases. To cope with the challenges of power outages and water shortages they also installed back-up generators at all of their buildings and put up reserve water supplies at most of them. “So what we find is that while our income and distribution has been knocked down a bit we are really well positioned for good solid long-term growth,” says Kelly. The slight dip in income and distribution is also in line with PrimeTime’s debt-leveraged model. In this model the company supplements equity with debt from financial institutions such that the cost of financing development may be part equity and part debt at the beginning. Income may take a dip to service debt for a significant period of time depending on how high the level of debt but since property rises in value, over time the equity portion increases relative to the debt and usually the debt is paid off from the rental income. This is what Kelly refers to as creation of long-term shareholder wealth at the expense of interim distribution.
PrimeTime still has ambitions of expanding into the African market but it has experienced challenges with its first foray outside Botswana’s borders in Zambia. Last year, Zambian finance minister Alexander Chikwanda signed SI 55 on balance of payments which empowered the Bank of Zambia to monitor in-flows, out-flows and international transactions while SI 33 prohibited using foreign currency for domestic transactions. The two policies affected foreign companies operating within the country negatively, leading some to pull out of the country completely. However, in the face of a depreciating kwacha Chikwanda decided to revoke the instruments earlier this year. “The overriding thing is that clearly there’s a bit of instability in the governance and politics there,” laments Kelly. While the revocation of SI33 and SI55 were good news for companies such as PrimeTime more bad news came in the form of an increase in property transfer tax from 5 to 10% and a withholding tax of 10% on rentals as a final tax which together with a 15% withholding tax on foreign dividends or interest is making property investment in Zambia unattractive to foreign investors. “For other companies it might be fine but for us as a listed property investor it’s not great,” says Kelly. “We’ve got to reassess our position there but I’m not saying we’re not going to do something still. In fact Time Projects (PrimeTime’s sister company focused on property development) is actually involved in the development of a retail centre there and will probably get involved with more.” “We’ve still got a wish to diversify our reliance on Botswana so while we have looked at other countries we haven’t made a decision to focus on one country or the other. We had a lot of things lined up in Zambia so if things were going more smoothly we could have had investment in the country upwards of P250 million.” Within Botswana PrimeTime has a lot to be happy about. Prime Plaza, its flagship in the new CBD saw the second building completed in December 2013 with Cresta, Stockbrokers, GIZ and SA Express taking up tenancies and leaving only one remaining suite still to fill. Meanwhile, the Barclays’ building is well on schedule for completion in August 2014 and within budget. Source: BSE (May 2014)
Boidus Focus attended a presentation at which the Turnstar Managing Director G.H. Abdoola shed light on the property loan stock company’s financial results and its plans for the future. Turnstar Holdings Limited recently released its interim financial results for the year ending 31st January 2014. The group recorded a rise in revenue income by 16% from the prior year to P223,1 million and a rise in profit before tax by 164.5% to P383,0 million. Turnstar is best known for their two massive retail centres – Game City in Gaborone, Botswana and Mlimani City in Dar es Salaam, Tanzania – which have a combined value of over P1 billion. The main strategy for Turnstar in the immediate future is to expand these existing properties rather than developing or acquiring additional assets. “Turnstar is fortunate in the sense that our existing properties are giving us the growth that we currently need,” Abdoola enthused during his presentation. “Now when we talk of the expansions of Game City and Mlimani City the costs are close to P400 million. So we’re in a position to maximise the potential of our existing properties before running around and looking for new things.”
As for Game City, Abdoola observed that despite being the largest retail centre in the country it seems to be lacking a night time drive. It’s not an appealing after hours’ destination for most people so Turnstar are doing a revamp which will boost the mall’s profile in terms of restaurants, recreation and entertainment and be completed at a cost of over P150 million. The extension is already 80% pre-let with the remaining spaces left for clients who are interested but still hesitant to make the speculative investment. Fair value adjustments for the group made a huge leap from P40.5 million in January 2013 to 244.6 million in January 2014. Valuations are a topic on which Abdoola had strong opinions: “I personally for the last few years have not been happy at all with the way our properties have been valued. We had them re-valued last year and those valuations were then looked at by two other valuation companies. So the new valuations bear a substantial increase and I think now it gives us a true picture of what the assets are worth.” The Turnstar property portfolio is currently valued at more than P1.7 billion and the planned extensions will likely push this figure past P2 billion. Despite the promising figures Turnstar management are moving cautiously. Management recommended to the board that they internally
“Because the growth potential in Botswana is so limited at the moment we are looking to become a true Africa fund but of course thorough due diligence goes into all our investment decisions...” They are extending Mlimani City shopping centre by 10,000 sqm, Mlimani City office park by 5,000 sqm and also building additional rooms for Mlimani City conference centre. Beyond that Turnstar still has 80,000 sqm of undeveloped land in the area and according to Abdoola there is high demand for them to build a hotel. The only challenge is that they are not interested in entering a management contract but rather a straight-forward lease that would satisfy funders. This arrangement is difficult to come by with regards to a hotel but the group is narrowing their search for an operator with whom they can partner on the project.
devalue their properties by P20 million less than the full revaluation on the books to make sure the company remains in a safe position. The group intends on borrowing 100% of the development costs for extending their retail centres from financial institutions and while this might seem like a risky move on the surface the P400 million required for extensions will only push their loan to value ratio from where it currently stands at 19.5% to around 30%. It’s clear that the company’s property expansion plans will keep Turnstar an increasingly formidable force in African property investment for years to come.
Source: BSE (May 2014)
BOIDUS FOCUS May 2014
Boidus Feature Page 5
LETLOLE LA RONA
Boidus Focus interviewed Letlole La Rona (LLR) in an effort to gain some insight on the company’s financial results and its hopes for the future. Letlole La Rona Limited recently released its interim financial results for the six-month period ending 31st December 2013. The results were posi-
tive with investment properties valued at over P500 million and rental income in excess of P30 million.
for the longest time the sector has lagged to other sectors and it is starting to gain momentum.”
Reflecting on the financial results of their company LLR enthused that the company has performed well and has been consistent with its performance in the past. LLR has experienced a higher than 10% profit growth level mainly because of the high capital growth of the property portfolio.
LLR also identifies leisure as a property sector that is gaining some traction but adds that as a company they believe they have enough exposure to the sector to be able to get maximum benefits out of it. LLR is currently looking at getting some exposure into the retail sector and as the cycle for the commercial sector turns then LLR says they will be prepared to get into it at the right price.
LLR explains that their property investment strategy in Botswana has always been to look for yield enhancing investments for the long term. “So depending on the cycle of each property sector, the company will invest as long as it makes a significant difference in the yield of the company,” she clarified. “In Botswana’s current property market industrial property is on the rising side of the cycle, with a lot of upside yet to be explored. I think
those yield enhancing assets.” Letlole La Rona profit after fair value adjustment and before tax for the six months ending 31st December 2013 was an impressive P50.17 million and LLR says they are very confident that they can maintain this trend: “As an investment company it is very important to us that we deliver continued and stable growth to our unit holders, therefore all of our investment and operational decisions
are based on ensuring that this is sustained for the long term.” The company’s key development at the moment is a warehouse extension at plot 32084 in the Old Naledi Industrial area of Gaborone. They are building an additional plus or minus 10000sqm to the estimated cost of P 41 Million and believe that this extension should increase LLR revenue by at least 26%. Source: BSE (May 2014)
Retail and office are the sectors in which they feel they do not have sufficient exposure so they are eager to get into them but timing and pricing are key considerations. “We continue to look for yield enhancing assets in Botswana and even though there are assets in the country they are not at the price level that would make them attractive to us. So if there is a challenge for us, it is finding
Property stocks vs. Other Domestics companies stock Source: Botswana Stock Exchange [May 2014]
Putting the ‘Property Sector’ in comparison to other domestic listed companies within other sectors and the overall market. Ho do they fair against other local listed companies:
CHOPPIES ENTERPRISE LTD Highest Price (last 12 months)
430
Lowest Price (last 12 months)
295
Market Cap
4,755,540,711
Dividend Yield
1.05
SEFALANA HOLDINGS LTD Highest Price (last 12 months)
777
Lowest Price (last 12 months)
441
Market Cap
1,441,221,833
Dividend Yield
3.74
LETSHEGO HOLDINGS LTD Highest Price (last 12 months)
256
Lowest Price (last 12 months)
211
Market Cap Dividend Yield
4,701,187,523 1.48
AFRICAN BANKING CORPORATION LTD Highest Price (last 12 months)
700
Lowest Price (last 12 months)
465
Market Cap Dividend Yield
1,382,045,034 3.44
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Sustainability Page 6
ENERGY Radiant Energy Enters Botswana Market With Solar Vision by Boidus Admin Prince Motlokwa, co-founder of solar company Radiant Energy, has returned to his birthplace with a vision to put Botswana on the global stage as a leader in solar energy. After spending almost a decade away in the UK and Canada, Prince brings his international experience, connections and global perspective to grow the solar industry in Botswana. Since 2009 Prince has focused his career in alternative energy after spotting this as an important, growing global trend. In Canada, solar panels are everywhere you look - road signs, oil and gas wells, remote cottages and on the roof tops of houses and colleges. Through a feed-in tariff modelled after Germany, homeowners in Canada use their solar arrays to sell excess power to the utility. This is also a good business prospect for Botswana homeowners who would have opted to use solar. Successful solar markets also exist in some of the strongest economies of the world. “In Europe its Germany, in Asia it is China, they both have billion dollar solar industries. What’s crazy is if countries like the UK, Germany, and Canada are implementing solar with a fraction of our sunshine, why aren’t we?” Radiant Energy has already experienced solar success in Africa. Near Lagos, Nigeria, rural communities are similar to those in Botswana which lack access to the grid resulting in expensive and inconsistent electricity. Radiant Energy partnered with Nigerian native, Mr. Kunle, a Canadianbased physician who is committed to developing his home country through the support of medical supplies, technical expertise and innovation that improve the standard of living. We implemented minihome solar systems in 10 homes near his home village. The 25W solar systems provided families with affordable electricity to power lights, chargers and small appliances in their homes. This cost-effective and efficient solar solution has resulted in improvements to overall health, education, budgets and productivity. Nobody owns the sun; there is no cost to the country to embrace the power of the sun. This is an opportunity to harvest solar power and also cut the dependence on electricity and suppliers such as Eskom. This is more cost efficient and sustainable especially where Botswana’s electrical grid suffers persistent rolling blackouts. Currently, Botswana’s internal power generation sources fulfil merely half of the nations’ 700MW electricity demand. With over 3,200 hrs of sunshine per year, generating 22 Mega Joules per hour (MJ/hr), Botswana is one of the most lucrative solar markets in the world. “Solar is an important component to sustainable energy supply. I am encouraged to see that government officials are recognising and embracing this. The government would need to forge successful partnership with credible players in the market. I am happy as a citizen that I am able to avail this opportunity to Botswana to be a leader in providing alternative energy, exporting our knowledge, expertise and products to the rest of Africa and the world. Nothing is stopping us but our attitude. I am confident that in 5 years from now, we will be among the leaders in solar technology. So what are we waiting for, the time is now.” said Prince.
BOIDUS FOCUS May 2014
SUSTAINABILITY TODAY
Financial Incentives and Investment in Forest Conservation (Part 2) by Phenyo Motlhagodi As promised in the previous issue, this article will further look at the case for Financial Incentives and Investment in Forest Conservation with illustrations and examples continuing from last month’s introduction.
by nature that are essential for humans such as medicines, nutrients, building material, photosynthesis and nutrient cycle, thus the business case for Financial Incentives and Investment In Forest Conservation.
Forests are one of the Earth’s most valuable resources. Forests provide a source of shelter, food and energy for both wildlife and human beings, playing a key role in biological diversity and climate. However, the world is continuously losing forests. In the 2000s, the world lost approximately 13 million hectares of forest a year. The rate of deforestation has shown signs of decreasing, but it is still worryingly high. The main causes of deforestation are slash-and-burn agriculture and the clearing of forests for cultivation and construction. Sustainable commercial forestry is one of the solutions to the Earth’s major environmental issues. Global forest loss is a key factor behind extinction and a significant contributor to global warming. Sustainable forestry significantly alleviates both of these problems. Sustainably managed forests and trees provide not only raw wood but also services and commodities – ecosystem services, often free of charge. Ecosystem services are material and immaterial services provided
Ecosystem services are divided into four categories: provisioning, supporting, regulating and cultural services (Illustration below on the Ecosystem): The financial value of forest ecosystem services is significant. The forest crop has an immediate financial value that can at best sites even exceed the value of wood production. Regulating services may have a high indirect value, for example flood protection, erosion prevention, and water filtering. Also other ecosystem services may have a high financial value; for instance the values of photosynthesis or insect pollination are immeasurable. Forests are a renewable resource that provides humans with a multitude of commodities: medicines; functional nourishment, e.g. berries (antioxidants) where in most countries they are harvested freely, honey, mushrooms and game, timber, bandaging (viscose a.k.a. rayon or artificial silk), pulp, clothing (viscose), plywood, energy and paper, without which humankind could not have developed to
the current cognitive and intellectual level. Furthermore, forests hold water, prevent erosion and ensure the high quality of surface water and groundwater. As a by-product they produce carbon neutral bio energy which is a partial solution in preventing climate change. Other opportunities exist in charcoal production in local communities; this is done in a systematic, commercial and sustainable manner as opposed to the random cutting of fire wood which is then sold along major highways in Botswana for instance. This creates a whole new industry which is non-imported. Nigeria currently enjoys huge returns from charcoal as a big export earner due to the large market overseas. Germany, Belgium, Greece the Netherlands, Italy, Poland, Spain, Bulgaria and the UK are substantial importers of charcoal. The largest exporters of charcoal in the EU are Poland, France Holland Germany and Belgium. They buy and sell to the rest of Europe. Although the market is served from a number of competitive countries, exports from Nigeria, and other African countries are highly ranked because of the hard nature of the charcoal. European importers prefer charcoal produced from hardwood in Africa which is heavy and strong. Competitors are Malaysia, Indonesia, Brazil and Thailand. The quality of charcoal depends on the wood species. Though there are charcoal sources in Europe, most of them are made from softwood and are soft and light. Apart from that, they are bad conductors of heat and electricity, and burn without flame. Key, from a sustainability point of view is that after final felling, the forest (e.g. Mophane tree) is regenerated and over time the same ecosystem services/ products (Phane worms) are available as before. When forestry is practiced on a vast geographical area, all the ecosystem services remain available locally, because forest management measures are only carried out on a fraction of the entire area. This business operation and simultaneous ecosystem service provisioning can be continued with the same geographical source of raw material almost infinitely. Forests are estimated to contribute more than $400 billion to the world economy; this is all according to UN statistics. Yet this figure and much of the information provided here includes only the production and processing of timber and timber products. See below: (chart on total value) Ecosystem services are divided into four categories: provisioning, supporting, regulating and cultural services (Illustration below on the Ecosystem): Sustainable commercial forestry is one of the solutions to the big questions on Earth. Global forest loss is an important reason behind extinctions and global warming. Sustainable forestry significantly alleviates both of these problems. This article and the previous Boidus Focus Issue – Sustainability Today piece (Part 1) are really to advocate for the start of business investment in forestry as well as community uptake of grants offered by the likes of Forestry Conservation Botswana. The returns are immense and yet still unexplored. Phenyo Motlhagodi is a seasoned Radio Personality and a St Louis Top 40 under 40 finalist Facebook: Phenyo Motlhagodi Twitter: PhenyoOnRadio
BOIDUS FOCUS May 2014
Guest Columnist Page 7
The Art Room: Seeing Art by Sophie Lalonde Sophie Lalonde is the owner of Botswana’s first commercial and contemporary art gallery, Sophie Lalonde Art. When creating a piece of art, an artist has an emotional attachment, which provides the foundation and focus to the artist’s creation. However, this focus intentional or not, is not always clear to the viewer. When the viewer looks at a piece of art, their understanding is highly subjective and the differences in these understandings of artist and viewer often runs parallel to the individuals experience, knowledge, personal preference and emotions. In the past, writing history of art has predominantly been from the point of view of the artist and often idolizes them referring to them as ‘great men’. Writing about art from a biographical point of view of the artist was and is still today popular. Alternatively to this, art historians often write about style, for example; Renaissance, Cubism, Impressionism. Writing about history of art biographically and in terms of style provides the backbone to our written history of art. History and culture has also been popular which has sparked off focuses of political points
of view, gender, feminism and psychoanalysis amongst others. It is often interesting to use a variety of ways of looking at a piece of art to see what you can uncover about a work, which may not have been obvious to begin with. Being able to ‘see’ a piece of art in different ways is, as mentioned before, not always the intention of the artist. Even without any knowledge of the writings of history of art the difference in meaning between the artist and the viewer is unavoidable and inevitable. A piece of art can have multiple meanings depending on who is looking at it. Who is to say that the artists meaning is the true and only meaning? The beauty of art is that the meaning is in the eye of the viewer, whether that be an artist or the viewer. Art has the capability of being enjoyed and discovered infinitely from generation to generation.
‘A thing of beauty is a joy forever’ (John Keats).
Landmarks and Visual Arts [Part 1: April 2014]
by Jan Wareus / Architect & Town Planner
Ingress: Lately there has been a flurry of complaints levelled by architects and urban designers about the “lack of landmarks” in our cities and towns. As the remarks often assume that landmarks are created by professional urban designers, it is my intention here to challenge this view – most remarkable things are in fact created by amateurs, very un-academic artists and “outsiders” that should be an inspiration to our fine artists here. The brief presentation is in three parts and here follows Part 1: To my knowledge there are only a few world landmarks that were created by architects – rather most of them were “designed” by builders, engineers and outsiders. This might be hard to believe,
I guess, and I will try to give you a few examples, among many, of this fact. They were created by so called “outsiders” and their creations were often overlooked, sometimes despised, by the contemporary societies but in time they came to be regarded as landmarks and were preserved as such. Today they are visited by thousands from around the world and hold a special place of importance in the villages, towns and cities where they were created. It’s important to keep this peculiar fact in mind when crying for landmarks. Let us begin with the ones my wife and I have visited and seen:
PALAIS IDEAL – HAUTERIVES / FRANCE BY THE RURAL POSTMAN FERDINAND CHEVAL BORN 1836, DIED 1924, BUILT 1879 – 1922 – PICTURE PROBABLY FROM 1923:
www.cnonline.co.bw
The proud Postman Cheval in the middle right – 2/3 of east façade seen here
In the 1870’s postman Cheval started collecting beautiful stones during his long walks with letters and carried them home in his mail bag. Soon he had big piles and developed an impulse to create a palace illustrating all kinds of different cultures from around the world. Much was based on his interest in druidism (the palace has a Druid grave as well as a Pharaoh tomb), alien architecture and exotic plants. The palace has numerous rooms consecrated to mythical phenomena all described in Cheval’s own writings.
Reliance Office Supplies We are Botswana’s leading corporate furniture supplier and have been in operation since 1989. We hold the exclusive Botswana franchise for CN Business Furniture, the prestigious South African company with 9 branches in South Africa. Having worked for years with interior designers, corporate layout specialists and on large corporate projects, we have now rebranded and redesigned our own space here in Gaborone. Whilst in the past we relied on catalogues and design software to display our furniture to customers, we now have a dedicated showroom to display our ranges in all their full-size glory. Please allow us the opportunity to welcome you into our working haven and to introduce you to our ranges of: executive and operator desking and seating; reception furniture; soft seating; boardroom furniture; screens and partitions; training and educational furniture; restaurant, cafe and canteen furniture and storage and filing systems. Our furniture is of the highest quality, with most products holding a 5 year warranty. We showcase ranges for all budgets including pieces designed and imported from Italy. We provide delivery and installation, so that you can order in the knowledge that your furniture will be set-up in your office to your exacting specifications. We understand that you spend an average of 264 days at work each year. Let us help you spend those days surrounded by the beautiful office furniture you deserve. RELIANCE OFFICE SUPPLIES (PTY) LTD t/a CN (Cecil Nurse) BUSINESS FURNITURE
Palais Ideal – West façade – recent photo Sune Nordgren
When we were there in 1974, we were lucky as there were just a few visitors. But as the Palace became famous through books and articles and even photo exhibitions at museums all over the world we heard that buses packed with visitors from Lyon, Marseille and Paris had begun making daily trips to the Palace and that parking for individual cars was no longer available. Kiosks, restaurants and lodges have been built and the small town is flourishing. The Palace is a landmark and is protected by authorities today but was once the laugh of the town. In fact in the early 30’s there were council petitions advocating for the “palace” to be obliterated but it was saved by notable druids, artists and architects such as Salvador Dali, Pablo Picasso and Antoni Gaudi.
Plot 1247, Haile Selassie Rd, Old Industrial, Gaborone | P.O. Box 1084 Mogoditshane, Botswana Tel: +267 3956578 | Fax: 3974377 | Email: graham@cnonline.co.bw >>> CONTINUED PAGE 08
Guest Editorial Page 8
BOIDUS FOCUS May 2014
Landmarks and Visual Arts
HOUSE OF MIRRORS - NEW YORK / USA BY CLARENCE SCHMIDT
[Part 1: April 2014]
by Jan Wareus / Architect & Town Planner CONTINUED FROM PAGE 07
WATTS TOWERS – LOS ANGELES / USA BUILT BY SIMON RODIA (ITALIAN IMMIGRANT) BETWEEN 1921 AND 1954 IN HIS SPARE TIME AS A CONSTRUCTION WORKER.
My last example of “Architecture without Architects” for this essay is “House of Mirrors” north of New York, made of timber, stone and glass by a former mason, Clarence Schmidt. The construction started in 1920 and resulted in a 7-storey 35-room mansion with maze-like, mysterious corridors, much wrapped in aluminium foil.
Gaborone now- Blighted by Urban Sprawl
House of Mirrors – Clarence Schmidt 1965
Naturally, the house didn’t follow standards, codes and regulations and never had a building permit. It was burnt in 1968 (arson according to police) and Schmidt soon started a second house that also burnt in 1971. Schmidt died in 1968. Luckily, his creations had been noticed by several art museums and carefully photographed and measured by architectural students. Schmidt was honoured with books and art catalogues while still alive – which seldom happens for outsider artists.
Now you probably say: landmarks must exist in real life, not in books only. Sure, but it is interesting to note that the House of Mirrors is now so much remembered that it might be reconstructed. In the same vein we here should reconstruct some of the old landmarks that have disappeared over years due to cultural ignorance or lack of funds – often pointed out by Sandy Grant. There are quite a few landmarks created by so called “outsiders” that have become part of many countries’ cultural heritage; buildings, sculpture and paintings or drawings for instance. I intend to acquaint you with some more in the next essay as I think that the museums or our artists might become instrumental in creating landmarks. In my opinion our Thapong Visual Arts Centre is already a landmark.
Watts Towers, 1765 East 107th St. Los Angeles – from Wikipedia
A collection of 17 interconnected structures, two of which reach heights of over 30 metres. Constructed with steel pipes and rods, wrapped with wire mesh and coated with mortar, embedded with pieces of porcelain, tile and glass (“recycled objects”). We visited the towers in 1964 – then the ugly fences were not there but instead it was due for demolition. Luckily and despite neighbours’ complaints and ongoing vandalism, some actor and a film editor purchased the property in order to preserve it. The city found out about the transfer and tried to demolish it but the towers had already become famous and there was opposition from all over the world. The towers were saved and are now as much a landmark as the sign on the Hollywood hills. It’s now designated “the Simon Rodia State Historical Park”, maintenance money has been secured since 1975 and an Arts Centre is part of the site.
Watts Towers - doorway
Simon Rodia’s creation is now one of only nine folk art sites listed in the US. As Rodia gave the site away and left in 1955, tired of abuse, and retired in Martinez, California where he died in 1965, he never got his well deserved personal fame except for some books and articles about the towers.
Thapong Visual Arts Centre [www.botswanabeckons.com]
Thapong Visual Arts Centre
Jan Wareus 25/04/2014 janwareus@yahoo.com
BOIDUS FOCUS Classifieds 2014 CALENDAR EVENTS AFRICAN CONSTRUCTION EXPO - MAY 2014
2014 Calendar Events | Lifestyle Editorial | May 2014
LIFESTYLE EDITORIAL
Lifestylenoted by Keshia Mogopa, Interior Designer
Expert Home Owner...Themes and Styles! 27-28 May 2014 Seminar day: 26 May 2014 Site visits: 29 May 2014 African Construction Week: 26-29 May 2014
Sandton Convention Centre Johannesburg, South Africa The African Construction Expo and Conference is the only forum that brings together construction professionals from the entire African continent. The event hosts a conference that addresses strategic issues around large scale construction and infrastructure projects.
An interactive exhibition showcases the latest products and solutions that help deliver projects on time and on budget. A free-to-attend workshop programme provides educational content and encourages a change towards a more sustainable approach to construction.
The event is designed for the industry’s senior level management, investors, government representatives as well as construction professionals of all trades. MUST-ATTEND event will connect buyers, suppliers, manufacturers and service providers, providing a platform to: • Stay on the cutting edge with the latest in new products and equipment • Find everything your company needs in one place with experts on hand to answer questions • See products in action and other live demonstrations • Gain access to experts in education, training and other professional services
When it comes to interior design styles and themes, give yourself the permission to think outside the box. There are so many fantastic ways to define who you are by creating a magnificent living space. Allow yourself to be creative and stylish. When I say outside the box, I don't necessarily mean go crazy. I simply suggest you take some steps to create the type of home that you really want. At the start of any interior design project, we wonder what theme we should go for in creating the interior for our home in order to feel good in that environment. Most people tend to play it safe and think that good design is primarily about matching up colours and tones. Be inspired by places that you've been and styles that you've seen either in magazines or on TV – then try them out in your home with confidence. Interior design styles and themes are essentially about building an environment to seduce the emotions.
Achieve the theme of your desire with these three must-have elements for each!
INDUSTRIAL
2014 BOCCIM NORTHERN TRADE FAIR [BNTF]
1 - BRICK WALLS / An exposed brick wall has become a popular feature in interior design. Leaving a wall bare with the bricks visible can give a home an industrial and unconventional touch and adds character to the interior. This material exists in shades ranging from white to yellow to salmon pink to dark red that is almost brown. It doesn’t matter if you decide to create a bedroom, bathroom or living room; this kind of theme creates a spirit of old combined with modern.
21 May 2014
Venue: BOCCIM GROUNDS (Francistown) For more information please contact: Chinyepi or Chanda on 2414622 or email chinyepil@boccim.co.bw / chanda@boccim.co.bw
www.boccim.co.bw FRANCISTOWN DEVELOPMENT & INVESTMENT
AUGUST / SEPTEMBER 2014 (TBC)
Visit the website to find out more information: francistowninvestment .com
2 - EXPOSED PIPES / Apart from track lighting, exposed pipes around the home (or just the kitchen if you prefer) can bring out the raw and unfinished vibe that the industrial look is centered on. Just be careful to keep the rest of your interior clean and simple so your space won’t look too messy or cluttered.
Introduction to the Development & Investment Pitso The proposed Development and Investment Pitso, comes at the right time when there is: “a ground swell” and appreciation by many for a re-invigoration and renewed focus for the City, which includes conceptualization of a Vision: Investment Centre of Vibrance by 2022 is therefore brewing. This enriched understanding is spearheaded by the City Council Mayor, the District Administration, the Francistown business community and indeed members of the community at large. Objectives of the Pitso • To position the City of Francistown within Botswana’s development and investment landscape, especially from a national and international perspective • To bring together various and relevant stakeholders to explore issues of common interests in forging ahead commitment to further plan, develop and invest in Francistown and its hinterland being the Greater Francistown Planning Area • To determine and recommend to Government of Botswana, appropriate institutional structure and arrangements necessary for effective and efficient delivery of service to the residents of Francistown and its surroundings villages.
3 - CEMENT SCREED / More and more homeowners are realising the benefits of having a cement screed floor. Not only is this type of flooring inexpensive, it’s also extremely easy to maintain and considered a green alternative to other flooring options. If you prefer implementing this feature on a smaller scale, try having a cement screed wall instead. >>> CONTINUED PAGE 11
BOIDUS FOCUS Classifieds May 2014 | Home Improvement Ideas
DIY Projects - HOW TO BUILD A CONCRETE COUNTERTOP
Sponsoredby by Sponsored
Building and installing a concrete countertop makes for a great DIY project. Learn how to install a new countertop with these easy directions. [Source: diynetwork.com] Step 1: Remove the Old Countertop and Measure
Measure the cabinets corner to corner and add 1-1/2” on the exposed sides for overlay (Image 1). Before constructing the mold (form) for the concrete, build or secure a large, level and sturdy table (Image 2) on which to build the mold and pour the concrete. To minimize any deflection caused by the weight of the wet concrete, a table made up 3/4” plywood over a grid of 2” x 6’’s should be sufficient.
ment, more water and then add sand, pea gravel, more water, pigment (Image 1), more water and water reducer until consistency is like thick oatmeal.
When it’s all caulked go back over the bead with a dab of denatured alcohol on a finger, wiping the silicone smooth along all edges. After the silicone dries, carefully peal the painter’s tape, pulling it into itself to pull it off as well as any stray silicone. Fill all screwhead holes with colored modeling clay, which keeps cement out of the screw heads and makes for easier disassembly of the mold. Using bolt or wire cutters, cut the “hog fence” wire mesh for reinforcement inside the mold, leaving about 1-1/2” around all edges.
Step 3: Mix the Cement Step 2: Build the Countertop Mold
The countertop mold is made of 3/4” dual-sided laminate melamine (laminate veneer is on both sides). It’s relatively inexpensive and up to the task. Use the old countertop as a template to outline the outside edges and corners on the bottom piece of melamine .Using a table saw, circular saw and jig saw, cut the melamine boards to the exact size of the old countertop. The mold has to be watertight to keep the water in the cement from causing discolorations, blemishes and dry areas in the countertop. To ensure that it’s watertight, all seams and joints have to be caulked with silicone. Before caulking, tape all interior planes of the mold (with painter’s tape) on either side of all seams and joints, leaving just enough room for a bead of caulk to be applied. The tape prevents the silicon from affecting other parts of the countertop.
The mixing of the cement is the most challenging task in making a concrete countertop. A lot of variables -mostly controllable -- can affect the outcome. Still, DIY experts suggest that if you are deliberate with your planning and careful in your mixing, you can create a sturdy, predictable and satisfying mixture of cement. Determine the rough volume of the countertop -- for a 1-1/2” layer of concrete, use 15 lbs. of concrete per square foot. From the inside of the mold, measure the length and width to determine the square footage, divided by depth. A good cement recipe is: - 1 part cement (type 1 or 2) - 2 parts rock (3/8-inch pea gravel) - 3 parts sand - Water , Water reducer and pigment The amount of pigment varies by weight, so use this rough standard: Pigment should constitute about 4 percent of the total weight of the cement. Add a small amount of water into the cement mixer. Slowly add ce-
Step 4: Pour the Mold
Pour the concrete into the mold and distribute it evenly. Scrape off the excess concrete by using a clean, straight-edged 2” x 4” pulled in a slow sawing motion (called “screeding”) across the top of the mold edges, sliding back and forth over the concrete. After several screedings, place the hog-fence mesh directly on the surface of the concrete. Be sure to center it . You should also vibrate the sides of the mold with palm sander (used without sand paper). Vibrating the mold helps to release trapped air in the concrete, ridding the concrete of any air pockets. Let it cure two to four days. The ideal temperature for drying concrete is between 70 and 80 degrees. Don’t disturb the concrete in any way, shape or form during the drying process.
Step 5: Reveal the Mold
Concrete is extremely vulnerable at this stage and can be easily damaged, so be very careful and thoughtful in your handling of the mold. Strip the sides from the mold. If you use a pry bar, NEVER pry against the concrete, only against other strips of melamine or wood. Remove the screws and pry the boards away carefully.
Step 6: Prep Countertop for Installation
After you’ve removed the top melamine piece, sand the top well with palm sander and 150-grit paper. This sanding will uncover any holes that need to be filled in. Clean off the dust and sand with a shop vacuum. Fill any holes with Portland cement and water mixed with dye. Use the same ratio as the initial concrete mix so the color will match. Take a glob out and fill in the holes by spreading the mixture with your fingers. Let the filler mixture dry for at least 1-1/2 hours. Seal concrete with water-based sealer, rolling it on with a paint roller and a 2” paint brush. Let the sealer dry for a couple of hours. Sand with 150-grit sandpaper again, and clean with a damp rag. Wax the top of the cement counter with food-safe wax.
Step 7: Install the Countertop
Before preparing the cabinet tops to receive the countertop, place short 2” x 4”s across the cabinet tops. Rest the new concrete countertop on top of the 2” x 4”s. To keep silicone from the cabinets, tape the edges of the cabinet surface where the new countertop will sit. Place a full bead of silicone along each edge. Caulk the seams between new countertop and cabinets. Enjoy your new concrete kitchen countertop.
BOIDUS FOCUS Classifieds LIFESTYLE EDITORIAL
Property | May 2014
PROPERTY FOR RENT
Lifestylenoted by Keshia Mogopa, Interior Designer
Expert Home Owner... Themes and Styles!
RDC Properties Limited
COMMERCIAL PROPERTIES FOR RENT Gaborone - Fairgrounds
CONTINUED FROM PAGE 09
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MEDITERRANEAN 1 - CATALINA STYLE TILES / Colourful Catalina style tiles are often seen in Spanish style themes, and a good place to implement this is in your kitchen space, since the intricate patterns might be too overwhelming for living or dining spaces. Other tiles options include mosaic and quarry. Even if you don’t have tile floors, add tile or mosaic accents to countertops, tabletops, and wall art. The Spanish interior design style is a wonderfully warm and friendly style which is really easy to live with and even easier to achieve in your own home.
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Eranse: +267 76204842 2 - WROUGHT IRON / Implementing decorative wrought iron features throughout your home, either for your stair railing, chandelier, wall sconces or doors really draws a room to be focused on details instead of vibrant colors or futuristic furniture. Wrought iron is one of the most elegant and beautiful elements in interior design. Forever changing according to trends: it can be flowery or minimalistic, traditional or innovative, organic or geometrical. There is something quite old-world about this theme that takes one back to lands of castles while its masculinity and power adds an element of class with a side of vintage inspiration.
Gaborone - Main Mall • 144m2 Office/Retail, 2nd Floor, carpeted, fully air conditioned and partitioned – Available immediately • 156m2 Office/Retail, 1st Floor, carpeted, fully air conditioned and partitioned – Available immediately
3 - NATURAL ELEMENTS / As its name suggests, Mediterranean styles often include elements of the sea and the sky, meaning that the use of blue hues are commonly incorporated. For a modern Mediterranean twist, combine clean lines and a spacious feel with blue hints. Adding some greenery helps to soften bright colors and keep the decor looking natural and fresh. A filigree of green leaves from ferns and other well maintained hanging plants will make your home look casually elegant.
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ORIENTAL
Lesego: +267 77486710
1 - LATTICEWORK / Providing both decorative and functional aspects, lattice is an affordable and charming material to use in your interior. Using lattice indoors adds texture to the room and creates a dynamic focal point. This can be used as a wall feature in the room to create an architectural detail, or kept in small doses by implementing it on cabinets, dividing panels or doors. 2 - INTRICATE ACCESSORIES / For a subtle hint of oriental influence, keep to a minimalistic design & let the accessories do the work. Try antique vases and plates, or an oriental wooden birdcage lighting or display ornament.
MAUN (Roots Tower, Old Mall) • 28m2 retail/office space on the Second Floor – Available immediately • 70m2 retail/office space on the Second Floor – Available immediately • 118m2 retail/office on First Floor – Available immediately • 212.54m2 retail/office space on Ground Floor – Available immediately • 281.46m2 retail/office on First Floor – Available immediately
Lesego: +267 77486710 3 - WOODEN ELEMENTS / Wood furnishings play a definite role in this traditional theme, so infuse a generous amount of the natural element around your home. If you’re up for it, elaborately-painted furniture pieces will immediately inject the oriental vibe into your space.
Contact Amanda
Mobile: +267 71726015 | Tel: +267 3914548 | Email: amandae@rdc.bw
RDC Properties Limited: Phone: +267 3914548 Fax: +267 3973441 Email Address: pamservices@rdc.bw or amandae@rdc.bw Physical Address: Lejara Road, Plot 5624, Broadhurst Industrial Postal Address: P. O. Box 405391, Gaborone. Botswana
www.rdcpbotswana.com | www.masacentre.co.bw
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BOIDUS FOCUS May 2014
Boidus Feature Page 13
How To Invest In Listed Property Companies by Othata Batsetswe / Financial Inclusion Specialist & Project Coordinator / Principal Finance Administrator because any scheme you enter that does not pay interest higher than the prevailing rate at which prices are increasing is a loss. Investment is simply savings made over a given period of time. Mainly, I prefer 5 years.
CONTINUED FROM THE FRONT PAGE
Income properties have a number of sources of return: increasing rental incomes, appreciation in the value of the property and possibly tax benefits. However such properties have risks: losses from tenant carelessness or negligence, excessive supply of competing rental units or poor property management. Speculative properties include land and investment properties that are expected to provide returns primarily from appreciation in value due to location and scarcity rather than rental income. Speculative properties give their investors the opportunity to make excessive profits from increases in value or heavy losses due to uncertainty resulting in failure to achieve price appreciation. At a given age and time, we are compelled to build an investment portfolio and usually there are a number of stock options to choose from. Our portfolio should be designed in such a way that it minimises risk yet makes considerable gains versus the prevailing market rates and inflation. Inflation is a crucial factor to consider
Several property investment companies have listed at the local bourse which means that every one stands a chance to own property stock by becoming a shareholder in the listed entities. But before buying shares in any company, there are several considerations that one has to ponder on to avoid “throwing money away”. How many people actually know the mission and vision of the companies they have invested in? Very few. Those two points are critical because a company’s mission and vision should resonate with your portfolio and immediately tell you how your investment will grow – the two define the strategic plan and the risk appetite of the firm. The balance sheet is the most important aspect of the firm. There should be more assets than liabilities and the debt to equity ratio should be less than 1. Cash and other current assets should exceed current liabilities and, if possible, be sufficient to cover the long-term liabilities as well. Also, look for 0 (zero) next to “Preferred stocks”. Preferred stocks are an expensive way of financing for corporations, so they should be absent in a high quality company. A balance sheet that is healthy should also reflect consistently rising revenue and earnings over a period of time. This should also be coupled with rising dividends. It is therefore important to study the trends and collect as many published finan-
cial reports about a company for you to make an informed and intuitive decision. Following the balance sheet now comes one of the most important but rarely considered factors, the Board and the person at the helm (Chief Executive Officer). The composition of the board should have the most diverse men and women whose deeds both on the social and professional level are unquestionable. These should be individuals with a well proven record in governance and ethics who display the highest levels of professionalism but are driven by the notion and clear understanding that they are servants of the people. A management team with questionable credentials will most likely lead to investor flight and when that happens the stock price will fall. Money will be spent in fire-fighting which will drain the company’s funds. The “too big to fail” notion does not hold water any longer. Before buying property stock, one also has to look at the share price trends over time; has it been falling or rising? What is the range between the highest and the lowest price in a given year? The property share stock you buy should prove to be “stable” with no haphazard movement. It is common to buy shares of well-known and established companies. However, investors should not always be lured to the highest priced brand name because it can so happen that you are buying shares of a company that has reached its peak. New entrants are always appealing if we assume they were formed because they identified a niche market which they want to exploit. However since they are usually undercapitalised, well established entities can just take the ideas and implement them.
This therefore calls on the investor to study the aggressiveness of the company they want to buy into and this should include an analysis of the collaborating partners. The location is critical for managing risk and maximising returns. Property tends to perform well during recovery and expansion when interest rates are relatively low and employment and economic conditions are improving. Based on last year’s trends property has been on the rise and some of the local companies have proven to be well managed and aggressive in their growth. Some have partnered with other companies in foreign countries, investing beyond borders. Some are addressing the domestic demands for residential and commercial purposes both locally and in emerging markets. This therefore makes property stock a worthy investment. Botswana’s diversification efforts will result in new economic opportunities and that comes with demands for dwellings and other forms of infrastructure. Population is continuously growing and this also makes property investment a worthy consideration. The biggest risk for property funds is the danger of falling into a liquidity trap. A key feature of an investment is that it can be sold quickly without affecting its price but Property funds have the inherent problem that they offer daily liquidity to investors yet hold assets that can take months to sell. During a market panic when investors ask for their money back the funds can’t sell properties into a falling market. As an equity investor in a property fund it is crucial to maintain a long term investment horizon to ride out the commercial property market price cycles. And in the end, despite all this beauty, investors have a duty to conduct research so that they know exactly when to sell.
BSE Listed Property Companies Year End Analysis CONTINUED FROM THE FRONT PAGE
RDC PROPERTIES LTD
Boidus Focus met with the Executive Chairman of RDC, Mr. G.R. Giachetti to discuss his company’s most recent financial results and its ambitions for the future. RDC Properties Limited recently released its interim financial results for the year ending 31st December 2013. The results were positive with revenue up by 56% from P46, 025 million at the end of 2012 to 71, 620 million at the end of last year. Reflecting on the RDC financial results, Giachetti says he is pleased that the company has experienced a shift from profit generated from revaluation of properties over the development cycle to cash generation through rental income growth. In the past few years the Masa Centre development has contributed to the revenue growth which was related to income through revaluation of properties which is not redistributable. Hence Giachetti and his team are happy there is now a substantially growing trend of income generated through rental income from Masa Centre and the rest of the portfolio.
RDC has come a long way since their first development in 1989, which was a shopping centre in Kasane. Giachetti explains that their strategy at that time was to establish a presence in all parts of the country but they quickly realised the market in various towns and rural areas might not provide a sustainable long term growth that can be comparable to that of the Gaborone metropolis. Thus, their strategy was realigned to meet the growth trend observed in the country with more efforts concentrated around Gaborone and also the adoption of two important approaches geared towards the refurbishment of old buildings and more importantly making an entry into the hospitality business. “In areas such as Kasane (which might not have growing demand for retail) the hospitality market has tremendous growth potentials due to the natural beauty that continuously attracts tourists from all works of life,” explains Giachetti. “Chobe Marina Lodge is a typical example of a prestigious development embarked on to take advantage of the Chobe area which has turned out to be a great asset to RDC due to the high tourist attraction within the Chobe area during this season.” In Giachetti’s estimation, the biggest challenge RDC and the Botswana property market as a whole have faced in the past few years is the sudden boom in property development that saw developers complete their projects in the Gaborone Central Business District (CBD) en masse and in a short space of time. Giachetti is concerned that the developments may not have been investment driven but rather driven by the legislation that required these developers to develop property on their allocated portions of land with strict time limits. He also feels that the abundance of developments in the CBD plus the upcoming BDC tower in the Fairgrounds area will begin to depress the office supply in Gaborone in the near future but he’s optimistic that RDC can ride out the wave.
“Fortunately we are well positioned because we are with Masa,” enthuses Giachetti. “The more developments in the CBD appears to be more beneficial to us due to the model of our development that leverages on the mixed design to create improved lifestyle for the citizens like never before in the capital city”. RDC has done well by achieving suitable portfolio rebalancing which accounts for the office developments constituting 42% of the portfolio. However, the Hospitality developments closely by taking up 38% while the industrial and retail represents 4% and 16% respectively of the RDC portfolio. Going forward Giachetti explains that RDC is looking to balance its portfolio by venturing into residential property for the first time and expanding its relatively small industrial property list. They have just started developing 28 industrial units in Gaborone West and they are gearing up to present the final figures for the Tlokweng Housing Estate to the board of directors. Currently the only development that RDC has outside of Botswana’s borders is ‘Isalo Rock Lodge’ in Madagascar. Despite being the only four-star rated
lodge in southern Madagascar the lodge has not performed well due to the political instability in that country but Giachetti is optimistic that the recent change in the political climate will create some advantage for the lodge. “With the new political situation all indications suggest that we will have a growth of 20 to 40% in that business this year,” declares Giachetti. “So that will be good for us.” RDC is also venturing into the Nigerian market in the future as there are various opportunities in the region with their strong understanding of the market and their presence through sister companies in the country. Elsewhere in the continent RDC has some strategic alliances with partners operating in Kenya and Mozambique but they’re all at a very preliminary stage of discussions. As a parting note Giachetti says that he sees the Botswana market increasingly expanding into Africa in the future. There will be future opportunities abroad as more investment opportunities across various sectors are currently springing up and not just limited to property developments. Source: BSE (May 2014)
Guest Columnist Page 14
BOIDUS FOCUS May 2014
THE FIDIC 1999 RED BOOK – Sub-Clause 20.1 A Fresh Look At The Application Of Time Barring? by Euan Massey – MDA Abdulla Consulting (Pty) Limited
Time-bars are clauses that require one party to perform an obligation (typically furnish notice or submit a claim) within a prescribed period of time and if they fail to do so then they typically forgo certain rights (such as the right to claim an extension of time and / or additional payment).
Sub-Clause 20.1 of the FIDIC 1999 Red Book, like a host of other standard form construction contracts(1), contains a time-bar provision(2).
Sub-Clause 20.1 states: “If the Contractor considers himself to be entitled to any extension of the Time for Completion and/ or any additional payment, under any Clause of these Conditions or otherwise in connection with the Contract, the Contractor shall give notice to the Engineer, describing the event or circumstance giving rise to the claim. The notice shall be given as soon as practicable and not later than 28 days after the Contractor became aware, or should
have become aware, of the event or circumstance. If the Contractor fails to give notice of a claim within such period of 28 days, the Time for Completion shall not be extended, the Contractor shall not be entitled to additional payment, and the Employer shall be discharged from all liability in connection with the claim…” Time-bar clauses are strictly enforceable(3) and are notoriously difficult to overcome in circumstances where the time period has not been complied with. One of the very few ways in which a time-bar might be overcome is to address the interpretation and application of the provision concerned. This is what happened in the very recent English case of Obrascon Huarte Lain SA
v Her Majesty’s Attorney General for Gibraltar(4). This case related to the termination of a FIDIC contract for the construction of a tunnel under the runway at Gibraltar airport. One of the issues, which the court assessed, was the interpretation and application of Sub-Clause 20.1. In this regard the court found that the “event or circumstance giving rise to the claim” for extension of the time for completion and / or additional payment must take place and there must have been either awareness by the contractor or the means of knowledge or awareness of that event or circumstance before the time period for issuing notice can commence. The court stated that there was “no reason why this clause should be construed strictly against the Contractor and [there was no] reason why it should be construed reasonably broadly, given its serious effect on what could otherwise be good claims for instance for breach of contract by the Employer”. The court also found that if an employer alleges that notice was issued late, the employer bears the onus of proving such allegation(5). In considering the application of Sub-Clause 20.1 in light of Sub-Clause 8.4 (which is the clause entitling the contractor to claim an extension of the time for completion), the court noted that there was no wording to restrict the time period between two possible scenarios – is delayed or will be delayed. As such an extension of time or additional payment may be claimed either when it was clear that there will be delay (a prospective delay) or when the delay has at least started to be incurred (a retrospective delay). The court provided the following illustrative example: a. A variation instruction is issued on 1 June to widen a part of the dual carriageway well away from the tunnel area in this case. b. At the time of the instruction, that part of the carriageway is not on the critical path. c. Although it is foreseeable that the variation will extend the period reasonably programmed for constructing the dual carriageway, it is not foreseeable that it will delay the work. d. By the time that the dual carriageway is started in October, it is only then clear that the Works overall will be delayed by the variation. It is only however in November that it can be said that the Works are actually delayed. e. Notice does not have to be given for the purposes of Clause 20.1 until there actually is delay (November) although the Contractor can give notice with impunity when it reasonably believes that it will be delayed (say, October). f. The “event or circumstance” described in the first paragraph of Clause 20.1 in the appropriate context can mean either the incident (variation, exceptional weather or one of the other specified grounds for extension) or the delay which results or will inevitably result from the incident in question. Although this decision is at best persuasive on the Botswana courts and arbitrators, it does address any area of contention, which arises regularly between engineers and contractors under FIDIC contracts, and thereby provides fresh and valuable insight into how the time bar should be interpreted and applied. And though some may argue that the approach taken by the English Technology and Construction Court is “contractor-friendly” such criticism must always be seen in light of the undue hardship which is imposed on contractors by time bar clauses. 1. See for example clause 61.3 in the NEC3 and clause 29.4.3 of the JBCC2000 Principal Building Agreement, Edition 5 2. Referred to in some jurisdictions as conditions precedent 3. See the South African case of Edward L Bateman Ltd v CA Brand Projects (Pty) Ltd [1995] 2 All SA 488 (T) 4. [2014] EWHC 1028 (TCC) 5. Which is in contradiction to the South African courts’ decision in Edward L Bateman Ltd v CA Brand Projects (Pty) Ltd – note 3
BOIDUS FOCUS May 2014
Education Page 15
UB ARCHITECTURE EXHIBITION BRINGS OUT THE BEST IN STUDENTS by Keeletsang P. Dipheko
The University of Botswana Architecture Department will be hosting its annual exhibition on the 16th of May this year. This semester the exhibition is themed the “21st Century Work Place” and all students work was centred on the theme. The department of Architecture has of over 150 students, and the exhibition consists of all student work from the first year group to the fifth years collected for the exhibition. The exhibition attracts industry professionals, architects and students from other faculties. Planned and organised by the student body, and departmental staff, the exhibition invites people to come and appreciate architecture students’ work as well as to gain insight on what architecture offers. The event also offers a networking platform for students and industry professionals. Through the exhibition students get opportunities to be absorbed into the industry, which encourages them to ensure their submitted work is of a high quality. It also gives the organisers a platform to explore combinations of different mediums such as video and photography. “From my experience, studying Architecture is not an easy task,” Bachelor of Architecture student Katlego Moatse told Boidus Focus. “While studying you have no life as the course needs much time spent on projects; it’s so demanding and eye opening at the same time. We have students studying the same course but interested in other things like photography, and we get to share ideas based on their interests and incorporate them into Architecture.”
From the Classroom to the Field – One Graduate’s Story by Keeletsang P. Dipheko
Thabiso completed his Higher Diploma in Construction in June 2012. As an artist Thabiso says he chose to do construction because of his passion for being in the field. Thabiso says that during his time at New Era College he used Boidus Focus as a studying and research tool and that he learned a lot about quantity surveying and project management from the publication.
Boidus Focus met up with New Era College alumni Thabiso Lentswe to hear from him how he has navigated the tricky transition from student to industry professional.
“The paper makes you relate to the industry; at times you do the course without having any interaction with the people who are already in the industry,” explains Thabiso. “Boidus documents researched materials I used for most of my assignments. I met the paper on Facebook and read the profile; then I started buying the paper and followed it on Facebook.”
He said Boidus Focus is a great resource for anybody who needs local information on the construction industry, especially students and fresh graduates, because it exposes one to a lot of opportunities: “I was able to taste the industry through this paper.”
try’s efforts to provide alumni with internships, there is still need for a closer relationship between graduates and industry and that companies need to be more open to transfer skills to graduates by developing contracts beneficial to both parties.
Asked if what he has learned has merged with what the industry wants Thabiso says, “Yes but most of the materials we use at school are tailored for foreign or international markets so it does not help us relate with our own environment; there is need for documentation of the local construction industry and papers like Boidus Focus provide that.”
After completing his studies, Thabiso said he worked at Trigger Construction Company for six months and then moved out to manage his own projects. The current project he is engaged in is a residential development in the Gaborone North and Phakalane areas where he is jointly working with other experienced industry professionals while preparing to establish his own company.
He added that though he appreciates indus-
Professional Practice Page 16
BOIDUS FOCUS May 2014
Know your Maintenance Bond (COMMONLY KNOWN AS RETENTION BOND/GUARANTEE) by Boidus Admin
Maintenance Bond A maintenance bond (also known as a warranty bond) guarantees for the owner of the project, that the contractor will solve all maintenance issues during the specified maintenance period, which is usually 1 year from completion/acceptance of the project. The maintenance period could be longer depending on the terms of the contract. If contractor is unable to solve the maintenance issue or is not in business during the specified maintenance period, the maintenance bond provides the owner of the project with a remedy through the surety to fix the maintenance issues. The bond also ensures that the work done under the auspices of the building permit issued by the local government will meet local building codes and standards.
Along with providing a measure of protection to owners, the maintenance bond can also help reduce some of the overall bond costs that are incurred during the warranty period. Typically, this means the amount of any performance bond associated with the construction project is reduced, sometimes significantly. There are countries that require the issuance of a maintenance bond, especially on buildings that are constructed for commercial purposes or as facilities for a local authority or central government. From this perspective, a maintenance bond can be seen as insurance against incurring a loss if the contractor or the builder fails to construct the building in a manner that results in a stable and secure structure. For example, if the builder failed to set the foundation of the building properly,
and a year after completion cracks begin to appear in the interior walls and the building façade, the maintenance bond would provide the owner with some recourse to offset expenses in correcting the problem. This may involve covering the costs of having the same builder correct the issue or hiring a different builder to isolate the origin of the defect and take whatever steps are necessary to stabilize the structure. A maintenance bond is only in force for a specified period of time following the completion of a project and the settlement of the contract related to that project. Should issues arise after the bond has expired, the owner must look to other means of receiving some sort of compensation from the builder. This may include the use of legal action, depending on the particulars of
ATTENTION CONTRACTORS
LET US TAKE YOUR RISK BECI is the only credit insurer in Botswana, set up in 1996. The primary function of BECI is the granting and development of credit insurance. The company has evolved through time into issuance of other related products, such as Construction Guarantees and related guarantees. BECI has been instrumental in the development of credit discipline in the country.
local laws and regulations and the amount of time that has passed since the construction took place. When requesting maintenance bond on an account that has already been previously submitted to the surety, among the most important information that needs to be provided to the surety are the following information: • The Bond Request form - this will provide the surety with a basic overview of the current bond being requested. • A copy of the complete contract. The contract will verify among other things: that a bond is required; the penal sum of the maintenance bond; the duration of the maintenance period; the scope of work covered with the maintenance, etc. • Provide information on how the contract was awarded. Was the contract awarded as part of a negotiation or was it awarded though a bid process? If the contract was received as part of a bid process, the surety will inquire as to what security was used to bid the project and want to know the bid results. The bid results is a tabulation of all bids that were entered for that contract. If the low bid and the second low bid is different by more than a certain percentage (most sureties usually has range from 10-20%) they will require an explanation for the difference. • If the obligee/owner has their own maintenance bond form, surety company will want to verify that the form has acceptable language. If no required form exist, most sureties have their own generic form. • Provide a list of companies/manufacturers or vendors that can provide the same or comparable work as specified in the maintenance as to provide assurance to the surety that if contractor defaults, surety can easily find another entity to cover the maintenance. If the surety bond is the first bond being request-
With construction insurance from BECI, you can get on with your contract works without having to worry about the risks that often come with a project.
BUILD WITH CONFIDENCE
BECI provides guarantees to ensure that your contract will be performed according to its terms. In the event that the contract is not performed, BECI will pay damages if the contractor cannot. BECI surety bonds, or guarantees, include: • Bid/tender bond • Performance bond • Advance payment bond • Retention bond • Letters of intent
LOSS, DAMAGE AND INJURY BECI also provides insurance cover for: • Contractor’s All Risk, and • Worker’s Compensation For over 15 years, BECI has been helping entrepreneurs in Botswana to minimise credit risks, improve cash flow and focus on what really matters: growing their businesses.
Tel: +267 31 88015 Plot 142, Unit 1 Kgale Mews [Opposite Game City, next to ē voice]
www.beci.co.bw BECI is a subsidiary of Botswana Development Corporation
ed on behalf of a new contractor, the following information should be provided in the submission in addition to the above mentioned items. • Contractor’s Questionnaire. • Business financial statements (balance sheet, income statement, statement of cash flows and aging schedule for accounts receivable and accounts payable) for the company’s last 3 fiscal year end. • Interim Business Financial Statements. • Personal Financial Statement for all owners of the company • Articles of incorporation (if corporation), LLC agreement (if business is a LLC) or partnership agreement (if business is a partnership). • Bank reference letter and last 3 months most recent business and personal bank statements. • Resume for all key personnel of the business. • Copies of all insurance (general liability, professional liability, worker’s compensation, etc). • Current work in progress schedule. • Copy of the contractor’s license and other relevant licenses. • Copy of the trust if any of the owners of the business have their assets held in that trust. BECI OFFERS: RETENTION BOND/GUARANTEE Most project agreements call for stage payments to be made as the work progresses. Stage payments are triggered by presentation of progress certificates certified by the project engineer or consultant. These stage payment clauses frequently provide for the employer to retain a certain percentage of each stage payment as cover for any hidden defects in the completed works which may arise at a later date. Typically the percentage retained by the employer ranges between 5 and 10 percent of the stage payment.
BOIDUS FOCUS May 2014
Editor’s Note / Comments Page 17
Editors Note:
The New Planning ActWill Local Authorities Rise to the Occasion? by H. Killion Mokwete, RIBA Chartered Architect
Effective from April 2014, the revised Town and Country Planning Act 2013 has brought sweeping changes that will fundamentally change how planning control is administered in Botswana. From now on, Local Authorities will be powerful institutions in control of all matters of planning and physical development. But as the saying goes: ‘With great power comes great responsibility’. What remains to be seen is whether Local Authorities will rise to the occasion. The majority of Local Authorities have been known for their inability to perform. It is common knowledge that obtaining planning application approval is a laborious process, not only because of the bureaucratic nature of the previous process of applications but in some instances because of the inability of councils to deliver. Planning approval officers have long acted more as policing officers unto themselves as opposed to officials empowered with aiding developments. On many occasions I have had clients complain of their frustration at suffering deferred applications, some only because a drawing line had not been shown in a submitted drawing or some trees had not been indicated in a car park. As if planning is an absolute science, planning officers have in the past frustrated many important developments with petty demands which could easily have been resolved through consultations and use of their powers to grant approvals on conditions so as not to delay developments. The indiscriminate acts of planning officers have had grave implications for developments, which in some cases have been seriously compromised because of a 2-3 month delay that occurred only because council demanded a tree line be shown on the drawings. It is also common knowledge that councils across the country are not able to attract top graduates nor experienced professionals, which means not only are they understaffed, but in some instances they operate with below par personnel.
BOIDUS TEAM
In the past, many complex development schemes would have been passed on to DTRP, but with the new changes, all final decisions will be taken by Local Authorities and Planning Tribunals. If the staffing status quo remains the same as in the failed system, we might just have to brace ourselves for the worst that could happen to our planning system. They say the road to hell is paved with good intentions. Well, we might just find ourselves with the best well-intended system whose implementation turned out to be a complete failure. So the question of whether Local Authorities are ready for the new changes remains unanswered, the jury is still out, and Boidus Focus will be watching closely.
MANAGING EDITOR
SALES
GUEST COLUMNISTS
H. Killion Mokwete DESIGN
Tebogo Sekwenyane Thabo Sarona
Bridget T. MacKean
DISTRIBUTION
Euan Massey Jan Wareus Keshia Mogopa Othata Batsetswe Phenyo Motlhagodi Reuben Lekorwe Sophie Lalonde
JOURNALISM
Kibo Ngowi Keeletsang P. Dipheko
Martha Rooi ACCOUNTS
Ngwewabo Mokwete
Comments & Letters: ArchiCAD vs Revit
by Boidus Admin
For all you practicing architects and software lovers, we came across this fantastic discussion on the old question of which CAD program, especially with BIM is better between Archicad and Revit, which you will find interesting: Visit: http://www.linkedin.com/groups/ArchiCAD-vs-Revit to join the debate
BRAD NORRIS OWNER, NORRIS ARCHITECTURE
FLORIAN HEISE, RAIA DIRECTOR AT HEISE ARCHITECTURE
I am in process fo merging two different firms mine which is ArchiCad based and the other is Revit. I know Revit is more menu based but as I understand it it is actually easire and the making of parametric contetent is way easier in Revit. I would really like input from people who have used both and help me decide on a direction.
I knew this would be an active topic. : ) To make my situation clear, I have been using ArchiCAD from v 7 and taught it at QUT. My wife was an ArchiCAD user but jumped to Revit a few years ago when she changed jobs.
FLORIAN HEISE, RAIA DIRECTOR AT HEISE ARCHITECTURE Brad, have a look at the component browser from Kiwi codes.http://kiwicodes.co.nz/FamilyBrowser3.aspx It replaces the spreadsheet problem in Revit. Revit is easier to use because you don’t need works arounds to produce documents. To make a tiled ceiling in Revit there is a tool built into the program. In ArchiCAD you can use the roof at zero pitch, the slab or a library part, or a combination, depending on your office standard. Revit also removes (or really hides) the added complexity of layers, which can slow down new staff. When making th decision about moving to Revit, we realized that we would need to buy several plugins or other programs to bring Archicads abilities in line with Revit. Revit has keynotes and energy analysis out of the box. To make the shift easier on your ArchiCAD staff, I suggest they star playing with project Vasari (a technology preview from the autodesk labs) and they will be impressed with the R&D Autodesk explores. Good luck with the merger.
LAURA YANOVIAK BIM MANAGER | PROJECT ARCHITECT The firm I was with had worked with integrating Revit structural models since AC10 -- the only problem at the time is that Revit couldn’t model canted columns, so we used the structural model for clash detection and coordination, but didn’t incorporate the Revit model into the BIM. AC has come a long way since then, making interoperablility a priority, so that consultants using Autodesk products is no longer an issue. Besides, just because a product is owned by Autodesk, doesn’t mean that it plays well with others in the Autodesk family.
SOPHIE FELIKSINSKA-SWIERZ ARCH BIM MANAGER AT ITECH I am an ArchiCAD lover since version 5 but stopped using it full time around 3 years ago anda new into Revit –thought not as a designer or modeler strictly speaking which was what I was doing in ArchiCAD. ArchiCAD is intuitive , Revit is not.
[FRANCISTOWN]
My way of understanding modeling power: It really starts to make a difference when you want to go into very organic architecture or attempt design of wash hand basin or toilets in architectural software. We are involved at the moment in a project with really striking geometry which was conceived originally in Rhino-which seems to be a certain pattern among designer venturing into this type of architecture. To import Rhino complex shapes into Revit we had to to convert them first either to SAT or 3D DWG and linked. But Rhino is a surface modeler so it does not really have a depth and in Revit you cannot cut through linked dwg or sat files if you want to get a section.
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We recently started or own practice (in feb) and I rushed to buy ArchiCAD. The plan was to start slowly and build up. We didn’t count on getting very busy very fast and had to hire two then three staff. When it came to buying a new license we decided to buy Revit and compare the two programs. I had used Revit before (version 9) but I personally preferred ArchiCAD because it was faster, if you knew how to use it. When comparing the two programs we noticed that Revit was much easier for our staff to learn and to use to produce technical documents. For me this was a lesson in thinking like a director and not a CaDD manager, ArchiCAD is better but Revit is easier for people to use and produce. Following is a brief comparison of both packages.
Comparison points • Revit has an in built dictionary. (on the pc ArchiCAD needs word for spell check to work) Needs to be included in the software cost. • Revit includes Keynoting out of the box. You do not need to purchase and constantly upgrade the cad image add-on. • Revit includes Conceptual energy analysis out of box. ArchiCAD energy analysis is an add-on. • ArchiCAD has a much better library interface, no drop down menus. The Kiwi code Revit component browser is a required add-on. (additional cost for Revit) • The 3d Marquis tool in ArchiCAD if fantastic for looking at parts of the model quickly in 3d. The 3d section box in Revit can do the same, but just not as well. • ArchiCAD ships with a usable Library of part which are good but never just right. In Revit, new users were creating custom parametric components within weeks. • Custom Hatch patterns are much easier to create in ArchiCAD, in Revit you will need to code them or buy another software program. (cost to be considered) • Both programs can work fine with DWG’s and layer naming in converted files can be controlled in both. (In response to Marek, Revit does have ‘layers’ they are only slightly hidden under the hood). • You do not need to use Autocadd with Revit any more than you need to use the copy of Architectural desktop they give you in the software packages. As a micro station user in a past life I am having an Autocadd free career. • Revit has phasing and options out of the Box. ArchiCAD 15 has not been released in Australia yet. • Interoperability in both programs has issues. Revit required all consultants have the same Revit version (needs to be managed on larger projects). When IFC is fast becoming old and is still not perfect. We decided to go with Autodesk because of their significant R&D budget (20% of their profit) when compared to Graphisoft. • Archicad has sketch render, works well with piranesi and can use the Virtual building explorer. While Revit has mental ray included in the program and Autodesk Labs project Neon looks to bring cloud computing to rendering. • The Revit model is intelligent. An example would be that a light knows that it has been placed in a ceiling grid. Using grouping in Archicad is another step and a work around. • Revit has much greater modeling power, which ArchiCAD is only close to matching with 15. • The ArchiCAD drafting tools are fantastic and the guid lines really help. The Revit align tool and live plan dimensions as you model are also great. • ArchiCAD teamwork is good for control, Revit is better for working on the fly. • Producing Sheets in Revit is like working with ArchiCAD 9. The layout book in Archicad is much much much better. • ArchiCAD includes PDF printing out of the box. An additional cost for Revit. ArchiCAD can also produce 3d PDFs. • ArchiCAD plays better with others and can attempt to open and export more file types. • We have not tested either server product.
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BOIDUS FOCUS May 2014
Understanding the New Town and Country Planning Act by Keeletsang P. Dipheko
How The Proposed Married Person’s Property Bill Affects You by Mr. Reuben Lekorwe, commercial lawyer and a partner at Baoleki Attorneys
INTRODUCTION The following is my brief synopsis of the most important aspects of the amendments sought to be introduced by the proposed Married Person’s Property Bill and the possible effects on property ownership for the spouses. Obviously, the type of marriage contract will impact property ownership in future. The Current Married Persons Property Act Under the current Act, no instrument or form, (as proof of marriage out of community) has been provided for couples who marry out of community of property but whose properties are not subject to customary law, which is couples who are not tribesmen.
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areas to meet their aspirations. The new Act has dismantled the Town and Country Planning Board and transferred its functions to Local Authorities. This change in decision-making power is seen as a progressive step since many feel it was unfair for the board and the minister to make decisions with regard to land development on behalf of the Local Authorities. The other improvement is the reduction in terms of duration and procedure with regard to applications. In the past the Local Authorities would review applications and then send them to the board for final approval. This process would typically take months and most frustratingly there were cases in which the board would reject applications that had been approved by the Local Authority. Each of the 12 Councils in the country has established a physical planning committee to take over all the duties previously handled by the board. DTRP will now focus on a higher level of planning which includes national and regional plans such as roads that cut across districts. The Revised Act The revision of the Act involved intense consultations with key stakeholders who have a major role to play in its implementation. The revised TCPA is delegating the following functions to the Local Authorities also termed as Planning Authorities: • Adjudication of all applications for planning permission • Serving of enforcement notices • Preparation of local development plans • Preparation of detailed layout plans and preparation as well as production of maps. The Local Authorities now have the power to approve or reject any plan submitted to them without having to refer to another body. Moreover if you undertake an illegal development they have the authority to demolish it. Additionally they can now prepare their own plans. The physical planning units will be required to be restructured to undertake the following duties: 1. Adjudication of applications for planning permission • Processing of planning applications • Secretariat to the Physical Planning Committee • Proper keeping of planning records 2. Development control • Monitoring of developments
• Serving of Enforcement Notices • Giving planning advice to the stakeholders 3. Forward Planning and Research • Preparation of local and subject development plans • Preparation of detailed layout plans 4. Mapping and Cartography • Preparation and production of maps • Digitizing mapping information. The transparency of the appeal system is considered to be a priority and as such there is another Act that has established a land tribunal with powers to mediate land related disputes. Though it falls under the Ministry of Lands and Housing, the tribunal is seen to be independent and transparent in the sense that when you are aggrieved with the decisions of the Local Authority you are given a chance to appeal to the land tribunal. If the Local Authority rejects your application the rules of justice should apply in that you have to be given a chance to be heard and it is the responsibility of the land tribunal to make sure this happens. Additionally the members of the newly established physical planning committee will be paid sitting allowances. There are also plans for DTRP to source funds from government and transfer the funds to Local Authorities to cover the costs associated with preparing plans. Ooke added a strong emphasis on the aspect of registering planners: “The registration of physical planners is one of the most important components in terms of administration and I would like to appeal to all the physical planners in Botswana to come forward and be registered. This is one of the things that we really need to emphasize because the Act stipulates that planning work has to be submitted by registered planners or it will not be accepted.” Ooke also urged those who have been doing planning work though they are not registered planners to desist from this practice because it’s a punishable offence. There have been national workshops tailored for physical planning committees that covered all the districts involved. Consultants have also been engaged to help with change management strategies that would further improve the implementation process. Reference group teams which consist of representatives from all districts have also been formed to give DTRP monthly updates regarding implementation.
Further, in terms of the current Act, the matrimonial system chosen by a couple becomes unalterable once they get married. As a result, spouses who wish to change their marriage contract can only do so by getting a divorce and re-marrying. It goes without saying that this is undesirable and undermines the sanctity of marriage. As already stated, one’s choice of contract will determine the proprietary rights during marriage as well as when it is dissolved either by death or divorce. Options under the current Act are; 1. Marriage out of community of property 2. Marriage in of community of property WHAT ONE MUST DO FOR A PARTICULAR SYSTEM TO APPLY? Marriage Out of community of Property Out of community applies should one (the one whose property is not subject to customary law) marry without entering into any form of ante nuptial contract before marriage or one whose property is subject to customary law but signs an instrument availing himself/herself of the provisions of the Act and specifically stating that he/she wishes to exclude community of property, profit and loss. Under this regime, couples do not share in each other’s assets and liabilities and are free to deal with their personal properties as they choose at all times.
ty of property. This change, we are informed, comes as a result of third parties insisting on couples providing documentary proof that marriage was out of community notwithstanding the presumption. Secondly and most importantly, the bill seeks to introduce ways to change the consequences that arose when the marriage was celebrated. Should the bill become law, any person who married either before or after the commencement of this intended Act will be able to apply to the High Court to change the applicable marital property system. However the court must be satisfied of the following before any such permission for change can be granted; • That there are sound reasons for the change. • That the continuation of the existing regime is no longer economically and socially appropriate for either of the spouses. • That the proposed change is not made in bad faith. • That sufficient notice of the proposed change is given to all the creditors of the spouses. • Where the application is made by one spouse that sufficient notice is given to the other spouse. • That the publication of the proposed change has been made in the three consecutive issues of the government gazette and a newspaper of national circulation. • And that no other person will be prejudiced by the proposed change. Unlike in other jurisdictions like in South Africa where such an application must be a joint application by the spouses, it is apparent that here it may be brought by either of the spouses or both. The question that arises in cases where the one spouse brings the application alone is whether the other must consent and if opposed to the application, an order might be granted. An opposed party may not be willing to enter into a notarial deed in the event the court has granted the order. Again such a change can only be made twice during the subsistence of a marriage.
MARRIAGE IN COMMUNITY OF PROPERTY This regime applies where the parties sign a form or instrument clearly stipulated that they wish their marriage to be in community of property, profit and loss. Here the parties share equally in the assets and liabilities and have equal powers of administration and can act independently subject to certain exceptions. Consent of both spouses will be required for certain important transactions such as relating to immovable property and credit agreements. Changes sought to be brought by the Bill Of all the changes sought to be introduced by the Bill only two of them which we find important are discussed herein. Firstly the bill introduces an instrument that shall be proof that marriage of persons that are not subject to customary law is out of communi-
EFFECT OF THE CHANGE OF REGIME ON THE PROPRIETARY RIGHTS OF THE PARTIES Where one seeks a change from in community of property to out of community of property, what effect has the variation, on the parties’ proprietary rights? What happens to property which was owned in equal and undivided share? Does co-ownership continue? And does the indivisible share become divisible? These are some of the questions that will have to be addressed when the bill is discussed. There may not be any problems when a proposed change is from out of community to in community.
Mr. Reuben Lekorwe is an experienced commercial lawyer and a partner in the firm Baoleki Attorneys
BOIDUS FOCUS May 2014
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BOIDUS FOCUS May 2014