Cresta MD resigns amid scandal
Friday, December 02, 2016
Makaya’s resignation follows reports of misappropriation of funds at the company which resulted in the chief finance officer, Valentine Mganga dismissed from work last month.
In a statement, Cresta board chairperson, Maria Nthebolan said the process of identifying a new managing director and chief finance officer to lead the business will commence shortly.
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...