QUES­TION­ABLE AC­TIONS

Finweek English Edition - - INVESTMENT -

Cal­gro M3* an­nounced that it was em­bark­ing on a 2 523 unit project worth R812m in Namibia, which is some­what puz­zling. I was un­der the im­pres­sion that there was more work in South Africa that Cal­gro could do, so why head off to an­other coun­try adding com­plex­ity and risk? At the last set of re­sults the CEO com­mented that “un­con­trolled growth” was Cal­gro’s risk and I’m not sure this project doesn’t add to that.

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