BCL moves to liquidate Pula Steel

Shareholders' failure to inject fresh cash has pushed Pula Steel towards liquidation
Shareholders' failure to inject fresh cash has pushed Pula Steel towards liquidation

After shareholders of Pula Steel failed to inject fresh funds into the company, the provisional liquidator of BCL has filed for the steel-making company to be put under provisional liquidator.

BCL, which is the majority shareholder in Pula Steel, is also the biggest creditor of the steel making company, which is currently under judicial management.

 Provisional liquidator of BCL, Nigel Dixon Warren told BusinessWeek that following shareholders’ failure to inject fresh funds into the company he was left with no option but to apply to the High Court for the company to be put under liquidation.

Editor's Comment
Gov't must guard against cadre deployment

As the Botswana National Front (BNF) discusses a policy to place suitably qualified members in strategic positions, the guiding consideration should remain whether an individual is the best person to serve the country. There is nothing wrong with qualified party members applying for public positions. Political affiliation should neither disqualify a capable candidate nor give them an advantage over others. Every Motswana deserves a fair...

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