The Board of the Botswana Development Corporation (BDC) has appointed Oteng Keabetswe as the Corporation’s substantive Managing Director, effective 1 February 2026, bringing to a close a six-month caretaker period during which he steered the institution through a phase of strategic repositioning.
According to an announcement made today, Keabetswe has been serving as Caretaker Managing Director since August 2025. His confirmation into the role signals the Board’s confidence in his leadership, strategic judgement, and ability to advance BDC’s mandate as Botswana’s leading investment and development finance institution.
BDC stated that during his caretaker tenure, Keabetswe led a deliberate shift in BDC’s strategy, positioning the corporation as a more impact-driven and catalytic investment company. This approach focused on large-scale projects designed to deliver measurable economic and social returns while aligning BDC’s investment portfolio with national development priorities and long-term economic competitiveness.
The announcement further stated that a key highlight of his tenure was the execution of capital recycling transactions valued at over P600 million. The transactions unlocked capital from mature industries and non-strategic assets, allowing BDC to redeploy resources into higher-impact domestic investments, said the board.
According to BDC, over the same period, the Corporation deployed USD10 million to Letshego Holdings through an impact facility structured to expand inclusive finance, programme lending, and enterprise development.
Furthermore, the board shared that Keabetswe also oversaw the establishment of the Unity Healthcare Botswana Partnership Fund, a targeted intervention aimed at addressing national shortages of essential medicines and healthcare supplies. The initiative was designed to strengthen local supply chains and enhance the country’s health security.
In announcing the appointment, the BDC board noted that Keabetswe’s leadership had reinforced the Corporation’s focus on transformative investments that support private-sector development and industry-level interventions.
Under his stewardship, BDC is expected to continue strengthening Botswana’s long-term economic resilience and competitiveness.
The appointment comes at a time when BDC is sharpening its role as a catalyst for sustainable development, with increased emphasis on impact investing, inclusive finance, and strategic sectors that drive economic diversification.
