Lack of funding collapsed BPC�s Lesedi Project
Friday, November 03, 2017
Dr Schwarzfischer
“The project collapsed due to lack of funding, because sometimes you sign an agreement and once you do, then an independent power producer or project developer needs to establish the financing and if he fails, the whole project collapses,” he said.
The Lesedi Project was liquidated two years ago and the corporation re-called the franchising business model for review stating that it failed to generate profits and sustain itself.
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...