A diversified regional sub-Saharan African property loan stock company

  • Listed on the Botswana Stock Exchange (BSE) in 2002
  • Most diversified property company on the BSE with property assets valued at over P1.7bn
  • Unique sectorally and geographically diversified property portfolio comprising 13 properties:
  • 6 properties in Gaborone, 2 in Mogoditshane, 1 in Francistown, and 4 in Dar-es-Salaam
  • Retail bias with unique regional shopping centres such as Game City in Gaborone and Mlimani City in Dar-es-Salaam
  • US dollar earnings provides element of Pula hedge
  • Fully integrated internally managed property company employing 125 staff

Total return to investors of 31.3% over 2014 financial year


Corporate Strategy

  • Focus on properties with opportunities, sustainable income supported by strong tenant covenants
  • Utilise prudent capital structure – minimise cost of funding and refinance risk
  • Diversification by geography and sector whilst maintaining a defensive retail sector bias
  • Constant pursuit of opportunities to enhance return on investment including accretive or defensive expansion, additions, renovations or the sale of existing properties as and when appropriate
  • Maximise property performance through pro-active asset management, property management and leasing
  • Improved customer and tenant focus and constant evaluation of market trends
  • Integrated financial management and reporting system
  • Strategic planning of short term and long term capital investments
  • Property development in support of tenant requirements – No speculative property developments
  • Strong governance through active independent and non-executive board
  • Implement best practice
  • Active stakeholder engagement including communication and transparency to unit holders
  • Continued ability to source opportunities through extensive networks
  • Should the opportunity arise Turnstar may consider investment in other listed property funds that contribute favourably over time to the capital and income returns for unit holders