Botswana Telecommunications Corporation Limited (BTC) has delivered a strong financial performance for the half year ended 30 September 2025, reporting higher revenue, improved earnings and continued momentum in its digital transformation programme.
The company’s revenue rose to P796 million, a 10.3% increase from the same period last year. BTC attributes this growth to resilient demand for data services, with mobile data up 8% and broadband growing by 1%. The successful execution of a major digital project also contributed to revenue expansion, while mobile money and broader digital services continued to strengthen BTC’s transformation strategy.
Cost of services and goods sold amounted to P327 million, allowing the company to maintain a solid gross profit margin. Despite headwinds from higher spectrum licence fees and increased debtors’ impairment, profit before tax reached P148 million, demonstrating improved operational efficiency. BTC’s earnings quality remained strong, reflected in an EBITDA margin of 30% and earnings per share of 10.97 thebe, up from 6.80 thebe in the prior period. The company acknowledged that its cost-to-income ratio remains high at 81%, but said efforts to optimise expenditure and increase efficiency are ongoing.
BTC noted that its balance sheet remains sound, supported by prudent cost management and ongoing capital investment focused on improving service delivery and expanding network capacity. The operator continues to channel resources into network modernisation, digital platforms and customer experience enhancements.
The results come at a time when the national economy is under pressure. Botswana’s economy contracted by 3% in the third quarter of 2025 due to a steep 28% decline in the diamond sector. Nevertheless, the non-diamond private sector expanded by 3.4%, driven by service industries. Inflation rose to 3.7% in September following adjustments to the Pula exchange rate, and is expected to increase further under tighter economic conditions.
Looking ahead, BTC plans to intensify its digital transformation initiatives in the second half of the financial year. The company will roll out an omnichannel service model intended to integrate physical, digital and mobile touchpoints into a unified customer experience. Network expansion will continue, with BTC working to connect 105 additional localities and introduce Voice over LTE (VoLTE) to improve call clarity, reduce call setup times and enable simultaneous use of voice and data services. Enhancements to the mobile money platform are scheduled to improve user onboarding and interface design, and the company intends to expand SMEGA Pay acceptance across the retail and informal sectors through QR and tap-to-pay capabilities.
BTC is also pushing ahead with digital inclusion efforts. In partnership with the Government of Botswana, the operator is extending high-speed satellite connectivity to 61 rural villages, broadening access to reliable internet services in schools, clinics and community centres. On the enterprise side, BTC is advancing cloud-based disaster recovery solutions, expanding local data centre capacity and offering cybersecurity services designed to shield businesses from emerging digital threats through real-time monitoring and incident response.
The Board has declared an interim dividend of 5.15 thebe per share for the period. The dividend, which is subject to a 10% withholding tax, will be paid on 21 January 2026 to shareholders registered by 9 January, with the counter trading ex-dividend from 7 January. The interim financial statements were authorised for issue on 27 November 2025 and prepared in accordance with IFRS and the Companies Act.