KGK’s diamond jewellery reaches US market
Friday, June 02, 2023 | 270 Views |
Reaching new shores: Gothi briefing reporters on Tuesday PIC: PHATSIMO KAPENG
The sales were made under the African Growth and Opportunities Act (AGOA), the preferential deal between the US and many African states, whose renewal is currently being renegotiated ahead of its expiry in 2025.
KGK’s exports under AGOA mark a rare utilisation of the trade deal by a local company, as Botswana exports to the US have whittled down to zero in recent years, following the collapse of the US-facing textile sector.
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...