Citizens buy majority stake in First Sun
Thursday, April 07, 2016
The firm, which prides itself on being an ‘all-risk insurance provider’, announced on Tuesday that it has enlisted new citizen shareholders; Tiny Kgatlwane, Tebatso Lekalake, Keneilwe Mere and Kgaotsang Matthews, to acquire a majority stake of 51 percent in First Sun Alliance.
FSA managing director, Paul Chitate told Mmegi Business that the inclusion will put the company on a more competitive edge through citizen empowerment and joining up with qualified people in a high level.
While the political shift brings hope for change, it also places immense pressure on the new administration to deliver on its election promises in the face of serious economic challenges.On another level, newly appointed Finance Minister Ndaba Gaolathe’s grim assessment of the country’s finances adds urgency to the moment. The budget deficit, expected to be P8.7 billion, is now anticipated to be even higher due to underperforming diamond...