Namibian business boosts Sefalana
Friday, July 31, 2015
Chauhan
According to the group’s audited financial results for that period, the Namibian business made a significant contribution of over P800 million to the group’s turnover and P26 million to profit before tax.
This represented 23 percent of the group’s turnover and 14 percent of group profits.
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...