Last Updated
Thursday 18 December 2014, 14:58 pm.
CTO auction starts this week

The Central Transport Organisation (CTO) hold its first ever vehicle auction sale for citizens only on Thursday this week in Gaborone.
By Staff Writer Fri 19 Dec 2014, 17:43 pm (GMT +2)
Mmegi Online :: CTO auction starts this week








CTO general manager, Lt-Col Moakohi Modisanyane told Mmegi yesterday that about 1,813 vehicles are up for auction. The vehicles will be sold in batches with the first units from Gaborone going under the hammer on October 16  and October 30.

Other auction sales will be in Ghanzi on October 21, Tsabong on October 22, Kasane on October 27, Francistown on October 28, Selebi-Phikwe on October 29, Serowe on November 4, Lobatse on November 5 and Mahalapye on November 3.

Modisanyane said those wishing to bid for the vehicles must pay the required P2,000 deposit three days before the date of sale.

Those who have paid will be allowed to inspect the vehicles before the auction.

Modisanyane said security will be tight to make sure non-citizens do not get in or buy vehicles. 

"We will not allow any non-citizen into the yards or near the wards. We will require genuine identity cards. We are curbing the problem of fronting by limiting a buyer to a maximum of two vehicles only. Once bidders have purchased a vehicle from one CTO site, they may not go to another auction site," he explained.

He said non-citizens have been barred from the auction because they used to benefit at the expense of locals. "We want to give our citizens a chance to own these vehicles.

Hopefully more locals will participate. We are aware that a lot of people these days prefer Japanese cars, which are selling at affordable prices. But they will find our prices quite good as well," he asserted.

Most of the vehicles to be sold are eight years old. The reserve prices are as low as P15,000 for double cabs and four-wheel drives and P4,000 for small cars. Modisanyane said the fact that there will be no non-citizens at the auction and people are limited to purchase a maximum of two vehicles will give many bidders the opportunity to buy at reasonable prices.



Exchange Rates
FOREIGN EXCHANGE: Friday, 19 Dec 2014
FOREIGN / PULA
PULA / FOREIGN
1 USD = Pula   9.4787
1 GBP = Pula   14.8368
1 EUR = Pula   11.6414
1 YEN = Pula   0.0794
1 ZAR = Pula   0.8211
1 Pula = USD   0.1055
1 Pula = GBP   0.0674
1 Pula = EUR   0.0859
1 Pula = YEN   12.6
1 Pula = ZAR   1.2179
Banner Image
Stock Exchange
STOCK EXCHANGE: Friday, 19 Dec 2014
DOMESTIC STOCKS
ABCH
714
BARCLAYS
343
BIHL
1151
CHOBE
427
CHOPPIES
406
CRESTA
89
ENGEN
950
FNBB
362
FSG
237
FURNMART
220
G4S
374
LETLOLE
215
LETSHEGO
266
NAP
217
OLYMPIA
20
PRIMETIME
260
RDCP
202
SECHABA
2810
SEFALANA
922
STANCHART
1258
TURNSTAR
208
WIL
310
IMARA
210
  • Previous
    Night at the Museum: Secret of the Tomb Poster
    Next
    Masa Centre
    ::: Friday 19 Dec - Tuesday 23 Dec :::
    Night at the Museum: Secret of the Tomb
    John Wick
    The Hobbit: The Battle of the Five Armies
    Love, Rosie
    Penguins of Madagascar
  • Previous
    John Wick Poster
    Next
    Riverwalk
    ::: Friday 19 Dec - Tuesday 23 Dec :::
    John Wick
    Night at the Museum: Secret of the Tomb
    The Hobbit: The Battle of the Five Armies
    Walking on Sunshine
    Penguins of Madagascar
  • Previous
    Night at the Museum: Secret of the Tomb Poster
    Next
    Gamecity
    ::: Friday 19 Dec - Tuesday 23 Dec :::
    Night at the Museum: Secret of the Tomb
    John Wick
    The Hobbit: The Battle of the Five Armies
    Penguins of Madagascar
    Love, Rosie
    The Hunger Games: Mockingjay - Part 1