BTCL IPO announcement by Honourable Minister Molefhi
As part of the overarching awareness activities ahead of the much-anticipated Initial Public Offering (IPO) of Botswana Telecommunications Corporation Limited (BTCL), BTCL has successfully completed a nationwide employee road show. The series of engagements spanned 7 sites and all 952 employees in total.
The employee road show sought to further strengthen existing efforts to engage staff on the status of the IPO, with a particular focus on the details of the recently approved Employee Share Option Scheme (ESOP) and other related functions. An initial national tour was held from the 3rd to the 19th of July 2014, with BTCL Managing Director, Mr. Paul Taylor, and members of the executive team updating employees on the status of the project. A second tour was held between the 17th October 2014 ending on the 5th of November 2014.
Said Ms. Keamogetse Mubu, BTCL Head of Employee Relations, “Consultations with employees of BTCL began as far back as 2010 when the Government of Botswana made the initial decision to privatise BTCL. Since that time, we have continued with an increasing number of staff engagement and communications exercises, and these are only intensifying as we move closer to the IPO launch. The company has also investigated ways in which employees can be assisted to purchase shares.”
Research conducted in June 2014 revealed that 67.8% of staff were confidently aware of the upcoming IPO. A further 63% of employees expressed an eagerness and willingness to buy shares in BTCL. Ahead of the IPO, a series of consultative and information sharing Union Management meetings have also been held. The Botswana Telecommunications Corporation Limited Union (BOTEU) were engaged and updated on the BTCL Separation and Privatization Programme, giving input on such matters as the ESOP structure. BTCL Management continues to meet with BOTEU on a fortnightly basis ahead of the IPO launch.
Concluded Mr. Taylor, “It’s a phenomenal opportunity for our employees to own a part of this great business they have helped build, and we are excited to see the level of interest amongst staff grow. We’re experiencing more enquiries and expressions of interest from staff in recent weeks, and are making every effort to ensure everyone has the relevant information and access to allow for successful participation in the IPO.”
