Legislator decries �unproductive� household debt
Tuesday, October 10, 2017
Kenewendo PIC: MORERI SEJAKGOMO
Speaking at the launch of a new financial literacy product by Liberty Life Botswana, dubbed ‘Mind My Money’, she said it is a great concern to government and partner entities that there is a notable increase in household indebtedness.
Kenewendo attributed this to living beyond means and wanting to fund lifestyles or projects that one cannot afford, and not utilising the appropriate financial instruments available in order to prepare for tomorrow today.
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...