Transporter dejected by Competition Authority�s embargo

Contract between 4MS and KBL was said to be coming to an end soon PIC: MORERI SEJAKGOMO
Contract between 4MS and KBL was said to be coming to an end soon PIC: MORERI SEJAKGOMO

Local transport company, 4MS Group Holdings yesterday expressed its disappointment at the Competition Authority (CA)’s decision to block its deal with Transport Holdings. The CA on Friday announced it had blocked a bid by South African company, Transport Holdings to buy 4MS citing competition and public interest concerns.

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.

Editor's Comment
Botswana at a critical juncture

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...

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