Mmegi

Concerns raised as Engen takeover advances

In session: Lawyers during the CCA’s public hearing on Tuesday PIC: KENNEDY RAMOKONE
In session: Lawyers during the CCA’s public hearing on Tuesday PIC: KENNEDY RAMOKONE

The Competition and Consumer Authority (CCA) is expected to deliver a ruling within the next 30 days on Fusion Spark's proposed acquisition of a controlling stake in Engen Botswana, amidst mounting concerns over the transparency of the divestment process and the potential impact of the transaction on competition and retail operations.

The concerns emerged during a public hearing on Tuesday convened by the CCA as part of its assessment of the proposed merger. Fusion Spark is an entity in which business magnate, Ramachandran Ottapathu, has a 30% direct stake in, according to the latest CIPA records.

Fusion Spark is seeking to takeover Petroleum Holdings’ 70% stake in Engen Botswana Limited.

Editor's Comment
Makgekgenene played her part

“Ignore the noise, focus on your work”- AnonymousAs the DG of such a controversy-ridden institution, you really played your part in the fight against corruption and economic crime. Your stay at the helm of the DCEC was quickly paying dividends under your stewardship. During your tenure, there was a lot of action as those caught on the wrong side of the law were brought to court regardless of their economic or political status. We have learnt...

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