You are the financial director of ABC Ltd, an unlisted company operating in Gauteng. The board of directors of ABC Ltd is looking for opportunities to expand its business and considering a foreign investment option an investment in a branch located in Botswana. As the entire operation of the company is currently located in Gauteng, this investment will be the first outside of South Africa. The company is currently funded by a combination of equity and debt. The targeted gearing ratio (debt to total long-term funding) is 60%; however, the company is currently at a 50% gearing level. The debt of the company consists of a combination of loans and corporate bonds