Chiefs to brief supporters on shareholding
Friday, July 17, 2015
Facing new challenges: Chiefs will announce the club's shareholding structure during the annual meeting structure
Club spokesperson, Clifford Mogomotsi said the general membership will be briefed on the current situation with their partners. The club formed a trust two years ago to run the affairs of the club.
“We also looked for partners because running the club as a society was not working for us and we partnered with a company called Ribbon Investments. So we are going to brief our members as to how this partnership is doing,” Mogomotsi 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...