Sefalana invests P200m to enter SA market
Thursday, October 12, 2017
Sefalana will spend P200 million on South African expansion
In a statement, the company said the largest participant in this consortium is the well-established buying group, Unitrade Management Services (Pty) Limited (UMS).
“The objective of this consortium will be to acquire a number of target supermarket and wholesale chains across the country. Sefalana is due to invest R250 million in this consortium and will participate in the board of the consortium. The two groups look forward to leveraging off one another’s experience in the industry to grow this consortium into a sizable enterprise over the next 10 years,” Sefalana Group finance director, Mohammed Osman said.
Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...