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
Don't let FMD outbreak drag on

Acting Agriculture Minister, Edwin Dikoloti, is right in saying opening an export-ready facility whilst Foot and Mouth Disease (FMD) is still spreading would risk getting the whole country blacklisted before a single carcass leaves the door.A ban like that would break the already stressed nation. So, the postponement, painful as it is, is the right thing to do. The local economy is being squeezed from both ends. FMD has already slammed the door...

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