A forex-earning health-export asset in an investment-grade jurisdiction.
TEMCO is a 130-bed medical-tourism and tertiary hospital at the Sir Seretse Khama International Airport Special Economic Zone — built first to draw patients from across SADC and beyond into Botswana, earning the country foreign exchange the way tourism and mining do. It also keeps Botswana's own complex cases at home. You back a hard asset inside the national agenda, with the capital structure open to your proposal.
The Opportunity
TEMCO Specialised General Hospital is a 130-bed medical-tourism and tertiary hospital in development at the Sir Seretse Khama International Airport Special Economic Zone, Gaborone. Its primary purpose is to make Botswana a destination the region flies into for care — complex and specialist cases drawn inbound from across SADC and beyond, paying hard currency and earning the country foreign exchange. Secondly, it keeps Batswana's own complex cases at home with broad local access (public-referral, medical-aid and private). It handles the next-tier procedures that leave the country entirely today: structural heart, complex electrophysiology and robotic-assisted surgery. It is a Healthcare Entry Point Project under Botswana's Economic Transformation Programme, an NDP 12 priority, with BETP Secretariat delivery-readiness validation and a Ministry of Health Letter of Support.
That makes TEMCO, first and foremost, a forex-earning health-export asset in an investment-grade jurisdiction. Inbound patients from across the region pay hard currency, the way tourism and mining earn it for Botswana. Keeping complex cases home and widening specialist access for Batswana — public-referral and medical-aid — is the floor beneath that. The capital structure is open to your proposal — debt, equity, blended, convertible or joint venture — and the project economics hold across each.
We engage a small number of strategic partners, and we do it in conversation — not through a form. What follows is the case for TEMCO.
Built for institutional capital and delivery partners
TEMCO is structured around two partnerships — a senior institutional capital partnership and an international construction-delivery partnership — with the build designed to be de-risked from the outset. The capital structure is open to your proposal; we engage a small number of strategic partners, by invitation.
Senior Capital
Institutional capital partnership
The senior tranche of the raise — institutional capital bringing private-equity diligence and structuring discipline to the project.
Construction & Delivery
International construction-delivery partnership
International build capacity with capital aligned to delivery — designed to de-risk the construction programme through to commissioning.
Engagement is by invitation, in conversation — the capital structure is open to investor proposal, agreed at partnership formation.
130
Specialist Beds
SSKIA
SEZ Location
25 Yr
Operating Model
2029
Target Opening
Why TEMCO
Inside the National Agenda
TEMCO is a Healthcare Entry Point Project under Botswana's Economic Transformation Programme, an NDP 12 priority, with BETP Secretariat delivery-readiness validation and a Ministry of Health Letter of Support. It is part of the national agenda, not beside it.
Forex-Earning Demand, Happening Now
The primary prize is forex-earning inbound demand. The SADC cross-border referral market is a multi-billion-dollar regional flow paid in hard currency, and TEMCO is built to capture a national-scale share of it. Beneath that sits the floor: broad local specialist access for Batswana, and the complex cases that currently leave the country. Johannesburg and Bengaluru capture the regional flow now. TEMCO is built to win it for Botswana.
Two Patient Streams
TEMCO serves two streams, in this order: first, complex and specialist cases drawn inbound from across SADC and beyond, paying hard currency — the forex-earning core; second, broad local access for Batswana — public-referral, medical-aid and private — keeping complex cases at home. The base is regional inbound plus broad local access. It is not dependent on routine domestic volume, and it is not a private enclave.
An Airport-Adjacent Fiscal Footing
TEMCO sits inside the Sir Seretse Khama International Airport Special Economic Zone: 5% corporate tax for the first ten years, then 10%, and 0% customs on qualifying medical equipment — with a 90-minute airport catchment at the front door.
The moat is not one thing — it is seven
No single advantage carries the project. Seven do, and they reinforce each other. Select any one to read what it means.
Advantage 01 of 07
Cost arbitrage
Specialist procedures are positioned 25–35% below South-African private rates. For a regional patient, the same intervention costs materially less — with no cross-border travel or accommodation burden on top.
Advantage 02 of 07
SSKIA SEZ fiscal stack
Located inside the Sir Seretse Khama International Airport Special Economic Zone: 5% corporate tax for the first ten years, then 10%, and 0% customs on qualifying medical equipment. A fiscal footing no SADC private peer can match.
Advantage 03 of 07
Airport catchment
Direct flights into SSKIA from Johannesburg, Cape Town, Addis Ababa, Lusaka and Harare put a 90-minute airport catchment at the front door — patient-and-family logistics at roughly half the cost of Bengaluru or Bangkok medical tourism.
Advantage 04 of 07
National-priority anchoring
A Healthcare Entry Point Project under Botswana's Economic Transformation Programme, an NDP 12 priority, with BETP Secretariat delivery-readiness validation. The project sits inside the national agenda, not beside it.
Advantage 05 of 07
Clinical partnership & JCI pathway
A clinical operations partner anchors protocols, staffing pipelines and training integration. The hospital is designed to the Joint Commission International accreditation pathway from the day it opens — the first such pathway in Botswana if achieved.
Advantage 06 of 07
Jurisdictional stability
An investment-grade sovereign (S&P BBB-, Moody's Baa1, both negative outlook as of October 2025), an independent judiciary, common law and English as the official language. Political neutrality is itself a product feature for referrals from across the region.
Advantage 07 of 07
Service ceiling above existing peers
Two-linac radiation oncology with next-generation IMRT/VMAT/SBRT/SRS and HDR brachytherapy; structural-heart interventions (TAVR, MitraClip, LAA closure); complex 3D-mapping electrophysiology; PET/CT imaging; and the first robotic-assisted surgical platform in Botswana.
Investment Profile
A qualitative read on the project's return profile, built on a full 25-year financial model spanning capital structure, detailed return metrics and sensitivity analysis.
Above Hurdle
Project Returns
Material project IRR above the cost-of-capital hurdle in the base case
Long-Dated
Return Profile
25-year operating horizon with meaningful terminal value
Within Decade
Payback
Payback achieved within the first decade of operations
Positive
Net Present Value
Positive NPV at the base-case discount rate
Strong
Operating Margins
Robust stabilised EBITDA margin at steady state
Open
Capital Structure
No pre-specified debt/equity mix — investor proposes
The return profile is long-dated and asset-backed, modelled over a 25-year operating horizon.
25-Year Financial Model
The project is underpinned by a detailed 25-year unlevered financial model with conservative occupancy ramp (initial ~35% Year 1 ramping to steady state over three years), strong EBITDA margins at maturity and meaningful terminal value.
Upside scenarios (additional SADC inbound capture, medical tourism step-up, pharmaceutical Phase 2) are documented but not relied upon in the base case.
What a private review covers
- Revenue build by service line and year
- EBITDA build with full cost-base assumptions
- Capex schedule with equipment lease treatment
- NPV, IRR, payback and sensitivity analysis
- Terminal value scenarios and exit pathways
- Downside stress testing and breakeven analysis
We walk strategic partners through the model directly — in a working session, not a download. It begins with a conversation.
The care Southern Africa flies abroad for — coming home to Gaborone.
Indicative architectural design concept — TEMCO Specialised General Hospital, SSKIA SEZ. Not a photograph of a built facility. Opening 2029.
Addressable Market
TEMCO's primary market is regional inbound. Across 16 SADC nations and a population of 380M+, cross-border tertiary referral flow is a multi-billion-dollar regional market paid in hard currency, within a far larger SADC private tertiary-care market. TEMCO is built to capture a national-scale, forex-earning share of it, with sustained growth in private specialist demand. Beneath that primary opportunity sits the floor: broad local specialist access for Batswana, and the complex cases that currently leave the country for care abroad.
By 2029, a patient in Lusaka or Harare needing a structural-heart procedure flies 90 minutes to Gaborone, not to Bengaluru — landing at SSKIA, treated at airport-adjacent rates 25–35% below South-African private benchmarks, and home within the week. That is the regional flow TEMCO is positioned to capture from the patients who currently travel to South Africa, India or Thailand.
Demonstrated demand, not a projection — the regional referral flow is paid abroad today.
Cost Advantage
TEMCO is positioned to deliver specialised tertiary procedures at a meaningful discount to equivalent regional private rates, without the travel and accommodation burden of medical tourism abroad.
- Price position below SA private benchmarks
- No cross-border travel or accommodation cost
- SSKIA SEZ framework underpins project economics
Planned at a meaningful discount to regional private rates — the medical-tourism formula.
Government-Programme Endorsements
NDP 12 Priority
National Development Plan
BETP Project
Economic Transformation Programme
BETP Secretariat Validation
Delivery-readiness validation
SEZA Qualifying
Special Economic Zone Authority
Ministry of Health
Letter of Support
JCI Accreditation PathwayTarget
On the pathway — first in Botswana if achieved
Investment Timeline
2026
Capital Raise
Investor engagement and financial close
Q4 2026 – Q1 2029
Construction
Build, fit-out and equipment commissioning
Q2 2029+
Operations
Phased ramp to steady-state occupancy
Why Investors Join TEMCO
A capital partnership with TEMCO is a stake in a national health-export asset — structured for institutional discipline and long-dated returns.
Modelled Returns
Material project IRR above the cost-of-capital hurdle in the base case. Positive NPV, payback within the first decade and strong stabilised EBITDA margins.
Inside the National Agenda
A Healthcare Entry Point Project under Botswana's Economic Transformation Programme, an NDP 12 priority, with BETP Secretariat delivery-readiness validation and a Ministry of Health Letter of Support.
Open Capital Structure
Equity, debt, blended, convertible or joint venture — structure agreed at the partnership level. You propose the structure that fits your mandate; the project economics hold across debt, equity, blended and JV.
Tangible, Forex-Earning Asset Base
A 130-bed physical hospital on 7–11 ha at SSKIA SEZ. Real estate plus an operating business that earns hard currency from inbound patients — not a software or platform play. Asset-backed and depreciable.
SADC Regional Demand Catchment
A documented SADC cross-border tertiary referral flow — a multi-billion-dollar regional market paid abroad today — of which TEMCO targets a forex-earning share flowing into Botswana as the inbound model matures. TEMCO captures the complex cases the region currently flies to Johannesburg and India. Demand is demonstrated, not projected.
Strategic Influence
Board representation and an operating role on the development team for partners who want one — board seat or observer rights, with your sector advisors invited onto the team. Governance and involvement are defined at the partnership level.
How to Become a TEMCO Capital Partner
A clear five-step process from first contact to financial close. Designed for institutional investors and family offices who require disciplined diligence and structured engagement.
Private Conversation
A direct introduction with the project team. We understand your mandate, share the project thesis, and decide together whether there is a fit worth taking forward.
Working Review
Under mutual confidentiality, we walk you through the financial model, business plan, government-programme endorsements and clinical framework — in a working session, not a download.
Site Visit
Visit the SSKIA SEZ site in Gaborone. Meet the project team in person. Tour the location and discuss with government-programme stakeholders.
Term Sheet
Indicative term sheet exchange. Investor proposes structure, amount and conditions. We negotiate around the project economics.
Definitive Documents & Close
Legal due diligence, definitive transaction documents, regulatory approvals and financial close. Construction commences Q4 2026.
Average time from first contact to term sheet: 6–10 weeks. From term sheet to financial close: 12–16 weeks.
Risk Factors & Mitigations
Every infrastructure project carries risk. Here are the principal ones, named plainly, and the way the project structure answers each.
Risk
Construction & Delivery
Phased build programme. Experienced in-house engineering and architecture team. Milestone-triggered drawdowns. Independent project monitoring available.
Risk
Market Demand
A SADC cross-border tertiary referral market — a multi-billion-dollar regional flow paid abroad today. Capacity-constrained wait times locally for oncology radiation and elective cardiac procedures, with next-tier interventions — structural heart, complex electrophysiology, robotic-assisted surgery — not yet offered in-country. Demand is demonstrated, not projected.
Risk
Regulatory & Political
Botswana is investment grade (S&P BBB- / Moody's Baa1, both negative outlook as of October 2025). Independent judiciary. Common law system. English official language. Peaceful democratic transitions since independence (1966). The project is a national-priority development located within the SSKIA Special Economic Zone, with its SEZA-qualifying fiscal incentives.
Risk
Currency & Repatriation
Botswana Pula is one of Africa's most stable currencies — a hard-currency-friendly base for equipment contracts and reference pricing.
Risk
Clinical Recruitment
A clinical operations partner provides protocols, staffing pipelines and training integration. A SADC and international specialist recruitment pipeline is in development, with Botswana-trained specialists supplemented by regional and international hires.
Risk
Capital Structure
Open structure approach — investor proposes the capital stack. No fixed debt requirement. Equity-heavy structures welcomed for de-risking.
Risk
Operational Execution
Strategic investor with hospital-sector experience welcomed onto the operational team. The hospital is on the JCI accreditation pathway. Pre-operational team led by registered clinicians and finance professionals.
Risk
Liquidity & Exit
Exit pathways are open, and defined with the partner at formation.
Partner with TEMCO
We engage a small number of strategic partners, chosen deliberately. There is no self-serve data room and no download — the path in is a real conversation with the Chairman's office.
First
A private conversation
It starts with a discussion — your mandate, your view of the region, and whether TEMCO fits the institution you are building. No forms, no gate. A direct line to the Chairman's office.
Then
A working review
For partners we choose to take forward, the 25-year model, the capital structure and the diligence file are walked through in person, under mutual confidentiality — in a session, not a download.
Together
A structure you propose
Debt, equity, blended, convertible or joint venture — you propose the structure that fits your mandate, and we build the partnership around the project economics.
If TEMCO is the kind of asset your institution is built to back, we would welcome the conversation.
Begin a Private ConversationA genuine investor enquiry, answered selectively by the Chairman's office.
Visit Us in Gaborone
Partners we are in conversation with are invited to the SSKIA SEZ site in person — to meet the project team, tour the location and meet government-programme stakeholders. Visits typically run 1–2 days and are coordinated around your travel.
Or email us at investors@temcohospital.com.
Strategic Partner Enquiries
We engage a small number of strategic partners. To open a private conversation with the Chairman's office, reach out below — we respond selectively, to genuine enquiries.
Or email us at investors@temcohospital.com.
Information herein does not constitute an offer to sell or a solicitation of an offer to buy any security. Any offering will be made only to qualified investors pursuant to definitive transaction documents, in compliance with applicable law. Past performance is not indicative of future results. All projections are based on assumptions that may not be realised. Investors should conduct their own due diligence and seek independent professional advice before making any investment decision. TEMCO Specialised General Hospital is a project of Murua Home (Pty) Ltd, CIPA BW00009159934.