Mynhardts taste first fruits after Furnmart delisting

Thriving: Furnmart's founding family are reaping the rewards of going private PIC:PHATSIMO KAPENG
Thriving: Furnmart's founding family are reaping the rewards of going private PIC:PHATSIMO KAPENG

Furnmart Limited, the retail giant with 139 stores in the region, is due to deliver its first dividends after it exited the Botswana Stock Exchange last March, BusinessWeek has established.

After 21 years on the local exchange, Furnmart delisted and went back into the hands of founders, the Mynhardt family, who controlled approximately 92% of the group after the BSE exit.

According to the group’s Annual Report released this week, Furnmart posted pretax profits of P161.3 million for the year ended July 31, 2019, compared with P140.3 million the previous corresponding period.

Editor's Comment
Botswana must not be a flag of convenience for rogues

‘A man’s country is not a certain area of land, of mountains, rivers, and woods, but it is a principle and patriotism is loyalty to that principle’.- George William CurtisAccording to the report carried in this publication, the fraudsters operating the so-called “dark fleet” have selected Botswana’s flag as their cover of choice. This is a direct assault on our country’s most valuable asset, the good name.For decades, Botswana has...

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