Furnmart profits weaken on closure of Zambian operations
Wednesday, April 26, 2017
The Botswana Stock Exchange-listed company said trading across its operations has been subdued during the six months to end of January 2017.
It said the decrease in gross profit margins was mainly due to the winding down of its Zambian operations.
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...