Nortex hit by weaker Rand, sheds 110 jobs

Thursday, March 24, 2016

FRANCISTOWN: Nortex Textiles and its 100% owned subsidiary, Matsiloje Portland Cement (MPC), have announced that they will retrench a combined 110 employees due to economic pressures fueled by the weaker Rand.

The affected employees are expected to leave at the end of March, managing director (MD) Mukesh Josh revealed the development in an interview with BusinessWeek this week.

Nortex is one of the biggest producers of towels in the SADC region while MPC produces construction cement for the Botswana market. On a normal business day, Nortex produces six tonnes of towels a day.

Already have an active account? Log in here.

Or Sign up and get unlimited access to premium articles.

Off to The Bahamas: The relay team at the Sir Seretse Khama Airport on Sunday PIC: BAA FACEBOOK

Relay team hunts elusive gold

Calistus Kolantsho | 1d ago

Nico launch late Houdini act

Mqondisi Dube | 1d ago

GU face Galaxy hurdle in title defence

Boitumelo Khutsafalo | 1d ago

Tables turn on disciplined forces

Mqondisi Dube | 1d ago

Softball constitution under scrutiny

Calistus Kolantsho | 1d ago

Bodybuilders ready to flex muscles

Mqondisi Dube | 15 h ago

UB Rhinos on the charge

Calistus Kolantsho | 1d ago

Ditlhokwe returns after long term injury

Larona Makhaiza | 1d ago

Stakeholders must step up veggie supply

The Ministry of Agriculture, local producers, retailers, and industry associations must work together to overcome the obstacles hindering vegetable production and distribution.This collaborative approach is essential to improve the availability, quality, and affordability of vegetables in the market.Firstly, the Ministry of Agriculture should provide support and guidance to local farmers to enhance their productivity and efficiency. This could...

The Monitor Editor | 29 April 2024

About us

Mmegi is the leading independent source of breaking news, latest news, current
affairs, Politics, Business, Sport, debates, analysis, and entertainment news in Botswana.

Explore

More

Nortex hit by weaker Rand, sheds 110 jobs

FRANCISTOWN: Nortex Textiles and its 100% owned subsidiary, Matsiloje Portland Cement (MPC), have announced that they will retrench a combined 110 employees due to economic pressures fueled by the weaker Rand.

Relay team hunts elusive gold

Nico launch late Houdini act

GU face Galaxy hurdle in title defence

Tables turn on disciplined forces

Softball constitution under scrutiny

Bodybuilders ready to flex muscles

UB Rhinos on the charge

Ditlhokwe returns after long term injury

Stakeholders must step up veggie supply