CBH had entered into a 35-year lease agreement with the Kweneng Rural Development Association (KRDA) which owns the plot where the mall has been built. The company paid KRDA P2 million for the lease. The new shopping complex is located at the same plot where the Mafenyatlala Hotel used to be. The Mafenyatlala Hotel which was owned by KRDA, was gutted by fire in 2003.
It was after the fire incident that the KRDA board decided to lease part of the plot for commercial purposes.But there has been criticism that the company acquired the land for a song. Another concern was that KRDA should have invited tenders for the project instead of only dealing with one company. KRDA chairman, Shima Monageng, said the entire property could be reverted to the community after the expiry of the lease period. However, he said, KRDA has an option of extending the lease for another 20 years at a rental of P9 million for the entire period of the lease.
Monageng said the spectacular shopping complex has changed the landscape of Molepolole drastically, adding that some residents were skeptical about the project. They thought the mall would become a white elephant.
The Mall, owned by Cash Bazaar Holdings (CBH), started operating towards the end of last year. Some of the tenants at the mall include Kentucky Fried Chicken (KFC), JB Sports, CB Stores, Cell City, Furnmart, First National Bank, Style Clothing, Dunns, Pep Stores, Taku, Dodo's Clothing, Jewellery Box, Cash Build, and Super Spar. CBH had entered into a 35-year lease agreement with the Kweneng Rural Development Association (KRDA) which owns the plot where the mall has been built. The company paid KRDA P2 million for the lease. The new shopping complex is located at the same plot where the Mafenyatlala Hotel used to be. The Mafenyatlala Hotel which was owned by KRDA, was gutted by fire in 2003. It was after the fire incident that the KRDA board decided to lease part of the plot for commercial purposes.But there has been criticism that the company acquired the land for a song. Another concern was that KRDA should have invited tenders for the project instead of only dealing with one company. KRDA chairman, Shima Monageng, said the entire property could be reverted to the community after the expiry of the lease period. However, he said, KRDA has an option of extending the lease for another 20 years at a rental of P9 million for the entire period of the lease. Monageng said the spectacular shopping complex has changed the landscape of Molepolole drastically, adding that some residents were skeptical about the project. They thought the mall would become a white elephant. Source : http://www.mmegi.bw/index.php?sid=4&aid=3448&dir=2010/July/Wednesday7
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