Letlole tops BSE in tough half year period
Thursday, July 02, 2020
In the lead: Letlole's property portfolio is focussed on industrial assets
By June 30, the BSE’s primary platform, the Domestic Companies Index (DCI) had shed 4.5% largely reflecting the downward trend in global equities due to the impact of the Coronavirus.
By comparison, over the same period last year, the DCI had shed 3% and would go on to close 2019 having lost 4.7%. For the first six months of this year, Letlole swam against the tide, gaining a net of eight thebe since January 2020.
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...