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Botswana: Moleps to Have Modern Shopping Mall
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Mmegi/The Reporter (Gaborone)
12 November 2007
Posted to the web 12 November 2007
Environment, Wildlife and Tourism Minister Kitso Mokaila last Tuesday performed a groundbreaking ceremony, thus paving the way for the construction of a multi-million Pula Molepolole shopping mall.
The P50 million project to be undertaken by Cash Bazaar Holdings (CBH) will be built at the thatched Mafenyatlala Hotel, which was gutted by fire late 2004. Mokaila praised the Kweneng Rural Development Association (KRDA) board for its vision and having had belief in the project. The minister also congratulated Bakwena for having agreed to lease part of the Mafenyatlala Hotel to CBH to develop the shopping mall.
He reminded Bakwena that the development would generate employment and change their capital's landscape. However, Mokaila cautioned Bakwena to work together and not oppose the developments in the village.
For more than two decades, Mafenyatlala Hotel in Molepolole stood as the pride of Bakwena until it was destroyed in an inferno in December 2004. This was a disaster, which according to KRDA chairman Shima Monageng, was a big 'wake-up call'.
After the incident, Monageng explains that the KRDA board immediately set up a technical task force to look at plans to re-develop the 11-hectare Mafenyatlala site with a shopping mall and hotel.
However, several attempts were spurned by various institutions, including banks because KRDA did not security.
According to Monageng, his board and technical task force have been working for the past two years to achieve their dream of building the first modern shopping mall in Molepolole. Monageng observed that the KRDA-CBH deal was arrived at in the best interests of Bakwena.
The deal was arrived at after the KRAD board set up a technical taskforce to, amongst others, negotiate the deal of leasing five-hectare plot to Cash Bazaar Holdings. KRDA accepted the taskforce recommendations to lease the undeveloped plot to CBH for 35 years at a ground rental of P2 million. CBH on the other hand was to develop a P50 million shopping mall at its own cost.
The property outfit is to use the buildings for 35 years to make its return on investment.
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Manageng explained that firstly KRDA could not secure a bank loan, as it could not meet the banks pre requirements such as the deposit, fees for market research, environment impact assessment, and architects and engineers' fees. The KRDA chairman told Bakwena that instead of leaving the Mafenyatlala plot idle, they found it prudent to lease the land to CBH for the envisaged development. Although it is rumored that some leaders in the village are against the move, Monageng said Bakwena at large are in support of the project. Some Bakwena have even gone to the extent of writing petitions to the District Commissioner and Kweneng Land Board chairman in a bid to stop the project.
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