Debswana sales slow down
Thursday, November 02, 2023 | 600 Views |
Rich ground: Jwaneng Mine is the world's richest diamond mine by value
The nine month figures for this year are however still considerably higher than comparative figures before 2022, reflecting the generally stronger sales enjoyed by rough diamonds since last year.
However, on a quarterly basis, the third quarter sales of P8.4 billion are the lowest reported by Debswana in the third quarter since 2015, excluding the COVID-19 year of 2020.
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...