Cut 8 to pump P301bn into Botswana economy
Wednesday, November 25, 2015
Commissioned by De Beers, the report was released this week at a conference held to celebrate the 46-year partnership between the global diamond giant and the government of Botswana.
Known as the Cut 8 project, the expansion of the Jwaneng Mine pit will uncover a further 105 million carats of high quality diamonds between 2017 and 2029.
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...