Afinitas acquires 50% stake in London conference

Tumelo
Tumelo

The newly listed investment firm, Afinitas Limited has acquired a 50 percent stake in the annual Africa Financial Services Investment Conference (AFSIC).

Afinitas executive director, Leutlwetse Tumelo told Mmegi Business on Tuesday that the acquisition is a step in the right direction for the company as it now has a subsidiary.

The 50 percent stake in the London-held conference is being bought for a nominal fee of $100 (P1,040) as its beneficial owner, Rupert McCammon,  is also a majority shareholder in Afinitas.

Editor's Comment
Micro-procurement maze demands urgent reform

Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...

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