Experts back Wilderness deal ahead of vote
Friday, April 12, 2019
Wilderness Holdings specialises in high end camps such as Jacana, situated in the Delta PIC: WILDERNESSSAFARIS.COM
Wilderness Holdings is the target of a bid to take it private, led by its long-time director and CEO, Keith Vincent in partnership with US private equity asset managers.
Already, the Botswana-born pan-African group’s other major shareholders have endorsed the deal, as have board members holding equity. The upcoming key vote by shareholders on May 10 is expected to be a fait accompli, as Vincent and his partners already have irrevocable commitments of support from other major shareholders, giving them an easy path over the target required to approve the delisting.
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...