Spar purchases Kgale Shopping Centre from Kirbys
Thursday, May 25, 2023 | 5180 Views |
Hive of activity: Kgale Shopping complex PIC: PHATSIMO KAPENG
The Competition and Consumer Authority is assessing Tsetseng’s bid to purchase the shopping complex and as yet, no value for the proposed transaction has been publicly disclosed.
According to the Authority, Tsetseng’s shareholders are Kevin Peter Gerard Lawless as well as Ride Investments and Fega Holdings. Ride Investments in turn controls Derek Brink Holdings and Rita Brink Holdings (Pty) Ltd.
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...