Manufacturing Summit expected to boost industry
Wednesday, July 03, 2024 | 890 Views |
Flashback: President Mokgweetsi Masisi graced last year's Summit and toured the various exhibitions showcasing local entrepreneurial effort
The event is designed to highlight mining-supported manufacturing ventures and provide a crucial networking platform for emerging entrepreneurs.
Briefing journalists on Tuesday, BCM's CEO, Charles Siwawa, stressed that the summit’s focus is on addressing critical issues such as economic diversification, growth, citizen empowerment, and job creation. Siwawa highlighted BCM’s collaboration with the government to promote industrialisation through SME growth.
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...