Mmegi

Major EU firm snaps up stake in Phikwe Citrus

Ramping up: The Phikwe Citrus Project has attracted a major new investor PIC: SPC FACEBOOK
Ramping up: The Phikwe Citrus Project has attracted a major new investor PIC: SPC FACEBOOK

Selebi-Phikwe Citrus (SPC) is finalising a transaction to sell a 33% stake in the business to European agricultural giant, Citrico Global, for $12 million (P165.6 million).

According to available public records, SPC is 75.58% owned by Zapemm B.V., with the balance held by local business tycoon, Ramachandran Ottapathu.

The deal is set to provide a powerful boost to SPC’s ambitions of expanding its operations and deepening Botswana’s footprint in international agricultural markets.

Editor's Comment
Gov't must empower DCEC urgently

As the new Umbrella for Democratic Change (UDC) government takes charge, it must act decisively to equip the Directorate on Corruption and Economic Crime (DCEC) with the tools, laws, and resources needed to combat graft. The time for half-measures is over. DCEC Director-General, Botlhale Makgekgenene’s, recent address to the Public Accounts Committee paints a stark picture. Over five years, leadership instability, chronic underfunding and weak...

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