Bank Gaborone promotes saving culture
Monday, April 20, 2015
Andre Barnard
Statistics show that although earnings in Botswana are better than other Sub-Saharan countries, the level of personal savings is still considerably low.
The country’s gross domestic savings was last measured at 37.6 percent of Gross Domestic Product (GDP) in 2014, according to the International Monetary Fund (IMF).
Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...