We offer high-quality, water-resistant, and low-maintenance flooring for homes and offices. Stylish and durable for hassle-free living.
Our goal is to be a leading investment firm in building supplies.
THREAD 🧵: A Date with Olympia Capital Corporation (OCC)
#1. History
In 1988, four Botswana investors founded Kalahari Floor Tiles (KFT) to meet local vinyl floor tile demand
Vinyl flooring is made from synthetic materials like fibreglass & PVC, is durable and moisture-resistant due to its multi-layered structure.
The investors struggled to launch their venture after registering KFT due to difficulties in securing necessary financing for the project.
Additionally, they faced delays in receiving plant and equipment from Rikett, a former unit of Reiber of Norway.
The business initially reported losses due to heavy debt and insufficient support from the machinery supplier, which adversely affected product quality.
By 1994, after resolving machinery issues, the plant was selling 525,000 square meters of vinyl annually.
Unfortunately, these production levels were insufficient to service the company's debt
In 1998, the business was refinanced through an equity injection by Rikett. The original investors saw their holdings dissipate to 6%
However KFT continued to make losses.
2001, Rikett sold its ownership of KFT to Dunlop Kenya Limited (DKL) now Olympia Capital Holdings (OCH) incorporated in Kenya.
2002, KFT was transferred into an investment entity, Olympia Capital Corporation (OCC) and later listed on the BSE.
In 2007, OCC attempted to expand from Botswana to South Africa by acquiring Plush Products and Natwood.
Although these acquisitions broadened OCC's geographic reach and product range, both companies were eventually closed,
#2. Operations
OCC, an investment holding company in building, industrial & allied services, fully owns KFT
KFT makes vinyl floor tiles, aluminum doors/windows, cleaning chemicals/equipment, and blinds
KFT has an installed capacity of 1 million sqm/ annum
#3. Competitors
KFT's competition comes from other flooring solutions available in the market such as porcelain and ceramic.
The other products made by KFT are in highly competitive markets which continues to limit profit margin growth
#4. Share price,
0.26 BWP per share as at Sept 12,
0.26 BWP per share on the 3rd of Jan 2024
35th most valuable stock on the BSE with a market capitalisation of 16.7 million pula.
64,349,985 issued shares
#5. Shareholding,
OCH an investment holding company listed on the @NSE_PLC is the majority shareholder with 60.41%
Christopher Obura's investment vehicle Karen Enterprises controls a distant 5.93% of the shares. He is an accomplished dentist and businessman.
Thinking about investing in Botswana? Get support from a local stockbroker. There are three registered firms:
- Imara Capital Securities
- Motswedi Securities
- Stockbrokers Botswana
Each week will be on a Date with a company listed on the @TheOfficialBSE.
The purpose of this thread is to have a minimum appreciation of listed firms.
Disclaimer: Do not misconstrue this thread as investment advise DATE companies before you buy its shares