TravelWise in partnership with citizen consortium

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Botswana's travel management company, TravelWise, has concluded an empowerment deal that has seen its citizen shareholding increase to 40 percent, a statement has said.

The majority of the remaining shares are held by South African investment giant Bidvest.
"We are delighted with this investment into TravelWise and Rennies Foreign Exchange in partnership with Bidvest," said Kabelo Binns, spokesman for the citizen consortium.

Binns, who is also a shareholder in Oganne, said the newly established consortium invested into the tourism sector because of its growth potential, especially with the advent of the 2010 Soccer World Cup in South Africa.

Editor's Comment
Micro-procurement maze demands urgent reform

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...

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