�Insure yourself�
Friday, August 14, 2015
Given their reputation nobody was surprised that second-hand car dealers were perceived as the least honest, with only 8% of people saying they were honest. They were closely followed by microlenders (18% saying honest) and furniture stores (22% saying honest).
What surprised me most were the scores given to the insurance industry. Only 22% of people said they thought the industry was honest and 60% said they thought the insurance industry was dishonest.
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...