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Covid-19 delays BTCL financial results

The financial results of Botswana Telecommunications Corporation Limited (BTCL) that were due to be released before end of this month will now be published end of July, the company has told its shareholders.

The company’s full-year financial results for the year ended 31 March 2020 were supposed to be published on or before 30 June 2020.

However, due to the extreme social distancing protocols put in place by government to control the spread of Covid-19, the company was unable to finalise the external audit of financial results on time.

“The restrictions impacted the external auditors and employees who were critical to the audit process as they had to work from home in order to comply with the statutory restrictions placed on the movement of people,” BTCL Board Chairperson, Lorato Boakgomo-Ntakhwana said.

Ntakhwana said the impact of Covid-19 is likely to be pervasive on the upcoming results announcement and says this warrants a review or assessment of its potential financial impact by the external auditors.

Meanwhile, between January and May this year, BTCL share price lost a total of 12.2 percent and was this week trading at 87 thebe per share.

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