Letshego calls EGM to cut directors’ pay
Friday, October 07, 2022 | 870 Views |
Trimming down: Letshego shareholders are due to meet on October 25
An Extraordinary General Meeting (EGM) on the matter is due to be held on October 25 in Gaborone.
The homegrown group, which boasts a presence in 10 other African countries, has seen its share price fall by a net of nearly eight percent since January, after having led the Botswana Stock Exchange in the first five months with a growth of about 29%.
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...