Lobatse, Selebi-Phikwe cooperatives form partnership

SELEBI-PHIKWE: The Selebi-Phikwe miners’ Savings and Credit Cooperative Society (SACCOS) and its Lobatse counterpart, Itshetseng Savings and Credit Cooperative Society on Saturday concluded negotiations to form a joint venture to improve their economic standing.

Both societies have engaged their legal advisors to draft the agreement that will govern this partnership.

Outgoing Selebi-Phikwe SACCOS chairman Western Ebepile said both societies have agreed to be joint owners of a shopping complex bought at a cost of P4 million in Lobatse. He said the overall management and control of the business of the joint venture would be vested upon the management board of both societies.

Editor's Comment
Time to end informal sector fronting

The Francistown Umbrella Informal Sector chairperson, David Mbulawa, has highlighted this growing concern, revealing that many local traders are using their licences to facilitate the entry of foreign goods into the market at a fee.Fronting undermines the very fabric of our local economy. It allows foreign traders to exploit the system designed to benefit Batswana, using local licences to cross borders and sell goods at prices intended for local...

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