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Payless eyes revival after closing down most stores

Fighting on: Moshoke is banking on a CEDA loan to revive the business
Fighting on: Moshoke is banking on a CEDA loan to revive the business

Retail chain, Payless, has closed down five of its eight stores around the country as it struggles with cash flow troubles and issues with the suppliers of stock.

Currently the group operates three stores in Molepolole, another one at BBS Mall in Gaborone and one in Block Six neighbourhood which operates on a part time basis.

Payless CEO, Elliot Moshoke told BusinessWeek that the group is hoping for a P30.5 million bailout from the Citizen Entrepreneurial Development Agency (CEDA) to re-open its stores.

Editor's Comment
Our digital safety is in our hands

That sounds like good news. But the report also warns that this may simply be because our digital economy is still young, not because we are safe. As more people shop, bank and pay online, criminals will follow.We Batswana do not need a report to tell us that danger is real. Many of us have heard of or fallen victim to KYC scams. A caller impersonates your bank or mobile money provider. They say they need to “verify” your account. They ask...

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