Citizen firms eye BCL stake in Pula Steel
Thursday, August 11, 2016
Speaking in an interview, Pula Steel chief executive officer, Ranvir Kumar Verma said his cash-strapped company has already applied for funding from an international financier.
“We have already written a letter of intent to BCL and as one of the requirements for that funding is a letter of approval from BCL as the major shareholder,” he said.
The Francistown Umbrella Informal Sector chairperson, David Mbulawa, has highlighted this growing concern, revealing that many local traders are using their licences to facilitate the entry of foreign goods into the market at a fee.Fronting undermines the very fabric of our local economy. It allows foreign traders to exploit the system designed to benefit Batswana, using local licences to cross borders and sell goods at prices intended for local...