Sefalana enters South African market
Tuesday, January 31, 2017
At the announcement of the financials for the half-year ended October 31, 2016, the group stated that it will use a large part of the P351 million raised recently through a rights offer to support its expansion plans into South Africa.
Recently, the group used part of the proceeds from the rights issue to enter the Lesotho market through the takeover of that country’s largest cash and carry outlet, TFS Wholesalers.
Whilst the project received mixed reactions from members of the public, the project is indeed a welcome development, which needs to be implemented as soon as possible. Many shared their opinion, with those against the project decrying that if implemented, it will kill the already struggling public transport industry.Many countries around the world have state-run public transport, and those who have travelled to such countries will give testimony...