Transporter dejected by Competition Authority�s embargo
Wednesday, January 18, 2017
4MS finance director, Michael Stoneham yesterday told Mmegi Business that the decision by CA to block the deal poses major challenges for the cash-strapped company.
“Like we said before, we are in financial doldrums and we are looking to sell our assets since our business is no longer sustainable,” he said.
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...