NBFIRA lifts Botsogo suspension
Tuesday, August 01, 2017
In a statement, the regulator said Botsogo, which was banned three weeks ago for compliance issues, might now issue new business to clients.
“Please note that the effect of this lifting of the temporary closure is that Botsogo may now take new clients and issue new medical aid covers,” read a statement from NBFIRA.
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...