Furniture Mart 'unbundles' to form new entity

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BSE-listed furniture, appliances and home-ware retailer, Furniture Mart Limited, seeks to restructure its group holdings by separating its Botswana trading operations and transferring them to a distinct entity, Bonus Stores Limited.

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.

Editor's Comment
Micro-procurement maze demands urgent reform

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...

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