Lobatse Clay Works grinds to a halt after failed P60m deal
Friday, May 18, 2018
Lobatse Clay Works, which has a workforce estimated at 500, was due for a P60 million cash injection by the Botswana Opportunities Partnership Fund (BOP) which would have taken up 80% equity in the 26-year-old company. The iconic firm, which is wholly-owned by the Botswana Development Corporation (BDC), has been in financial stress for several years and the BOP was seen as a timely investment.
The Fund, established by Capital Management Botswana (CMB) and funded by the Botswana Public Officers Pension Fund (BPOPF), is the subject of a hostile battle between the two former partners which now awaits a Court of Appeal decision in June.
The recent disclosure by the IEC that 2,513 registrations have been turned down due to various irregularities should prompt all Batswana to meticulously review the voters' rolls and address concerns about rejected registrations.The disparities flagged by the IEC are troubling and emphasise the significance of rigorous voter registration processes.Out of the rejected registrations, 29 individuals were disqualified due to non-existent Omang...