Hope for Teemane Diamond Company�s reopening
Thursday, April 16, 2015
The local diamond manufacturing industry is under pressure
This was said by Member of Parliament for Serowe North, Kgotla Autlwetse, in the backdrop of advanced talks to re-open the factory.
The diamond cutting and polishing company, previously owned by Diarough, closed down early this year due to commercial pressures, which led to over 300 job losses.
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...