Turnstar Holdings | BOARD OF DIRECTORS
A Variable Rate Loan Stock Company
Turnstar Holdings Limited, Variable Rate Loan Stock Company, G H Group, Bishop Diocese of Roman Catholic Church, invest in real estate property, real estate property investors Botswana, Game City Mall in Gaborone, Nzano Shopping Centre in Francistown, Fairground Office Park, Turnstar House, Mogoditshane Townhouses, Plot 63 Commerce Park, Supa Save Mall, Citroen House, Tapologo Estate
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BOARD OF DIRECTORS

 

Patrick K BalopiChairman of the Board

Mr Balopi has been one of the founding members of Turnstar Holdings, and previously served as a Director of the Company. Mr Balopi has been a Member of Parliament for 20 years and has held a number of cabinet and Ministerial positions during the period 1984-1994. He was elected to the position of the Speaker of Parliament of the Republic of Botswana and served simultaneously as the Chairperson of the SADC Parliament Forum. A recipient of the Presidential Order of Honour (PH) and the Melvin Jones Fellow Lions Club International, he has recently been appointed by His Excellency the President of the Republic of Botswana, as Botswana’s eminent representative to the Queen Elizabeth II Diamond Jubilee Board of Trustees, headed by the former British Prime Minister, the Right Hon. John Major. Mr Balopi also serves as a Director in several other Companies on Botswana.

GULAAM HUSAIN ABDOOLAMANAGING DIRECTOR

Gulaam Abdoola is a founding member of Turnstar Holdings Limited and was the Managing Director at the inception of the Company. He is the Executive Chairman of GH Group, a group of companies with businesses interests in property, retail, wholesale, restaurants, boutiques, tyres, spare parts, and petroleum retail. He has served as Non-Executive Director on various company Boards and as Chairman of Stanbic Bank Botswana, McCarthy Retail Botswana (which comprises Game Discount World, Bee Gee, Savelles, Happy Homes, Bears, Guys & Girls and Bonus Building Supplies) and Prefsure Insurance. Mr Abdoola is currently the Chairman of the Masiela Trust Fund.

MOKGADI K NTETADIRECTOR

Mokgadi K Nteta has a BSc (Honours) degree in Applied Psychology from the University of Wales Institute of Science and Technology, an MBA in Human Resource Management from City University Business School in London and is a Fellow of the CIPD and member of BOCCIM. Her experience in HR spans over 20 years and she has worked for blue-chip private sector companies such as Debswana, Barclays Bank of Botswana, Sefalana sa Botswana and Kgalagadi Breweries holding a number of senior HR positions, culminating in the post of Human Resources Director before forming her own consultancy business. She has a number of business interests and corporate directorships as well as serving society through various charitable avenues, including the charity she founded, the Dignity Foundation Trust, which benefits the girl-child.

SHIRAN PUVIMANASINGHEDIRECTOR

Shiran Puvimanasinghe is a Chartered Accountant. He commenced his career in Botswana in 1987 as a Senior Manager at Coopers and Lybrand (now PWC). He served the Botswana Housing Corporation, as a Chief Accountant during the period 1990 -1993. He was the Financial Director of Zurich Insurance Company Botswana for 15 years and subsequently appointed as Chief Executive Officer in 2009. Shiran joined Turnstar Holdings as the Chief Financial Officer, in June 2013. He was appointed as a Director on the 11th December 2014.

ISHMAEL NSHAKAZHOGWEDIRECTOR

Ishmael Nshakazhogwe is the Chairman and Managing Director of the Zambezi Group of Companies which embraces industry, petroleum, hospitality, property, farming and international trade. He is a successful businessman who has received the highest award from the French Government, the National Order of Merit “Chevailer de l’ordre du Merite”, as well as Presidential Orders for Meritorious Service by the President of Botswana. Mr Nshakazhogwe is a member of the Botswana Confederation of Commerce, Industry and Manpower (BOCCIM), the Botswana Investment and Trade Centre and a committee member of the Civil Justice Forum, A.G. Chambers. He is also a member of the High Level Consultative Committee on Justice and Governance, a Public/Private Governance Body. He received an honorary award and an appointment by the Thai Government as Thailand’s Consulate General to the Republic of Botswana. In 2015, he received the Arch of Europe award for the European community for excellence and quality award in recognition of private sector window opening.

PEO PILLARDIRECTOR

Peo Pillar graduated from the University of Botswana with a Bachelor of Commerce (Accounting) in 1995 and attained ACCA qualification in 1998. In 2010 she completed an MBA in Financial Services through the London School of Business and Finance. Mrs Pillar holds various professional memberships and is a Fellow Member of ACCA, Associate Member of the Botswana Institute of Chartered Accountants (BICA) and Alumni of UNISA. She is a qualified Chartered Accountant with extensive experience in internal auditing, external auditing and financial accounting; having worked in audit for eight years and in financial accounting for 13 years. She is currently the Chief Business Risk Management Officer at Mascom Wireless. Peo has been elected to the BICA Council in April 2015 and holds the position of Treasurer.

PIERRE BEZUIDENHOUTDIRECTOR

Pierre Bezuidenhout has a BCom Hons and a BCom (Law) from Rand Afrikaans University in South Africa. He has 22 years’ experience in investment banking and is currently the Managing Director of Collectus (Pty) Ltd.

MICHELLE ADELMANDIRECTOR

Michelle Adelman has a BSc in Engineering from Cornell University (New York) and is the Grou Executive – Strategy and Businesses Development for the Econet Wireless Group. She also serves on the board of HRDC and other regional companies. She was the global Managing Director of Accenture plc and Managing Director of Accite Holdings, a boutique investment firm in Botswana, that she founded. Ms Adelman has extensive experience in strategy, investor relations and operations management and as a director of companies.

DIRECTOR’S REPORT

We are very pleased with the results achieved for the financial year ended January 2017. The team has managed to achieve growth, even though we had to displace tenants during the construction phase of Game City and Mlimani City. The trading licence issue for foreign retailers, caused loss of revenue as the stores allocated could not be occupied. The construction is now complete and the trading licence issue has been resolved. Tenants are taking occupation of the stores for fit-out. The additional revenue from these extensions will be reflected in the coming year’s results.

The retail stores at Game City and Mlimani City are fully let, and these centres still remain the dominant shopping malls in Botswana and Tanzania. Turnstar continues to look for opportunities in Botswana and internationally.

We have just acquired our first office building in Dubai. It is a ground plus four storey building. This building is leased to one tenant on a long term basis. Currently we are evaluating various properties of the U.K.

Turnstar House in the Main Mall has been sold and these funds are being reinvested in properties with higher returns.

It gives us great pleasure to announce the appointment of Mr Patrick Balopi as the Chairman of the Board of Directors. Mr Balopi has been one of the founding members of Turnstar Holdings, and previously served as a Director of the company

The Board of Directors, management and staff of Turnstar Holdings Ltd, welcome Mr Balopi and look forward to working with him. The Turnstar Group will benefit from his wise counsel and experience.

I would like to thank the entire Turnstar team, our consultants, bankers, tenants, and the Board of Directors for the continued support, work and counsel provided. The success of Turnstar is the value added by all our stakeholders.