BCL woes snowball Phikwe�s economic plight
Tuesday, January 26, 2016
Moithobogi, also the managing director of Kwebo Management Consultants, said small businesses relied on BCL mine for financial and economic boost.
He said small businesses would be forced to shut down if the BCL did not have money. Due to low international commodity prices, BCL is reportedly facing a dire cash flow dearth, which has seen the company fail to pay most of its creditors on time.
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...