Botswana, Zimbabwe agree P1bn credit line
Thursday, February 28, 2019
Mnangagwa and Masisi PIC. BWGOVERNMENT
Investment, Trade and Industry minister, Bogolo Kenewendo told Mmegi this evening that the new deal was an expansion of a P500 million dating back to 2009.
The 2009 deal would have seen funding at discounted rates provided by Botswana banks with guarantees provided by Botswana. Zimbabwe was required to provide political, contract and safety guarantees under a Bilateral Investment Promotion and Protection Agreement.
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...