Tlou Energy raises P16m for Lesedi project
Monday, November 07, 2022 | 190 Views |
Anthony Gilby
The money was raised by placing 57,142,857 new ordinary shares of no par value at an issue price of P0.30 per share.
According to Tlou Energy CEO Anthony Gilby, the funds have been raised from a new strategic investor, through an entity controlled by Dr Ian Campbell, a high-net-worth investor based in Sydney, Australia.
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...