Strategic Planning

BOFINET’S APPROACH TO STRATEGY MANAGEMENT

BoFiNet has been developing and implementing medium-long term strategic plans aimed at driving and achieving its core mandate and the goals of the National Broadband Strategy and the Maitlamo Policy.

These strategic plans are anchored on the National Development Plans and the Ministry of Transport and Communications’ strategic plans.

Over the years, the company has been developing 3-year strategic plans, outlining its Vision and Mission statements, Strategic Themes, Values, Strategy Map and Scorecards, using the Balanced Scorecard (BSC) Strategy Management Framework. It was only with the current Strategy, UNLEASH 2025, that the company broke the tradition and embarked on a 5-year Strategy. The scorecard acts as a planning and execution management tool, covering the Strategy plan period, with yearly targets for all the financial years and the strategic initiatives to be implemented. The company follows the 1st April – 31st March financial year cycles and consistently carries out mid-year performance reviews to inform alignment of subsequent-year targets.

The Strategy formulation process involves rigorous engagement of the various organs of the company, covering Executive Management, Middle Management and Specialist cadres; the Board of Directors; and selected external stakeholders, including the Ministry of Transport and Communications. BoFiNet has a Strategy Office, which manages the value chain of Strategy formulation and implementation development, cascading, monitoring and performance reviews and reporting. The company consistently carries out biannual Strategy reviews. This approach includes reviews of corporate performance and affirmation of objectives and indicators as part of the planning process for the next period. The high-level deliverables include market assessments, affirmed targets informed by financial year performance and finally, an updated corporate scorecard. The updated scorecard is further cascaded into divisional scorecards, which remain the basis for the business functions and individual performance contracts.

Strategy management is critical for guiding the company in the execution of its mandate. BoFiNet and its entire Management Team have adopted a quarterly corporate performance review culture. This process supports the continuous assessment of the business environment and helps to identify emerging opportunities.

CORPORATE GOVERNANCE

CONTINUED

BoFiNet STRATEGIC FOUNDATIONS

VISION STATEMENT:

To be Africa’s Leader in Digital Transformation

The BoFiNet Vision is inspirational and clearly defined. This Vision articulates the ultimate long term goal of BoFiNet represented by the significant contribution of the company to the digital transformation of Botswana (first) and Africa.

Digital transformation requires the company to make change a core competency as the enterprise becomes customer-driven end-to-end. The primary focus of digital transformation is the customer.

MISSION STATEMENT:

We Enable Social and Economic Transformation through Innovative ICT Solutions

The BoFiNet mission is to enable, in concert with other market players, the social and economic transformation of Botswana through innovative ICT solutions that are permissible within the set mandate and regulatory framework. Success within the Botswana market should present opportunities for future scaling and growth of the company within the African continent, based on a compelling business case and support of the shareholder.

STRATEGIC INTENT STATEMENT: To be a P1 billion revenue entity while enabling 100% geographic broadband penetration, accelerating digital transformation and offering innovative new services by 2025.