Furniture Mart 'unbundles' to form new entity
Thursday, January 22, 2009
Bonus Stores is a wholly-owned Botswana subsidiary of the group and has been dormant since its registration.
But in a circular to shareholders on Tuesday, the directors of Furniture Mart said it is intended that Bonus Stores will also change its name.
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...