Higher costs weigh down Imara financials
Tuesday, December 21, 2010
During the comparative period in 2009, the group made a profit of P6.3m.
In a statement accompanying the results, management says the loss includes certain non-recurring expense items, namely, re-branding and a share of prior year losses from a Malawi associate totalling P1.62mn.
While it is widely acknowledged that Khama holds the title of Kgosi, the government’s failure to properly gazette his recognition has raised serious concerns about adherence to legal procedures and the credibility of traditional leadership. (See a story elsewhere in this newspaper.) Recent court documents by the Minister for Local Government and Rural Development, Kgotla Autlwetse, shed light on the intricacies of Khama’s recognition process....