DCI silent ahead of festive season
Wednesday, November 25, 2015
Motswedi Securities weekly financial markets highlights show that despite the silence of the domestic counters, the trades were quite higher than those traded in the prior week, with Letshego trading about 50 percent of volumes while Choppies and Turnstar exchanged 26.8 percent and 16 percent of the total volumes in that respective order.
The Domestic Companies Index (DCI) nevertheless advanced by eight basis points while the despondent activity on the foreign board led the Foreign Companies Index (FCI) to end flat at 1,566.81 points.
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...