Payless eyes revival after closing down most stores
Friday, March 03, 2023 | 1110 Views |
Fighting on: Moshoke is banking on a CEDA loan to revive the business
Currently the group operates three stores in Molepolole, another one at BBS Mall in Gaborone and one in Block Six neighbourhood which operates on a part time basis.
Payless CEO, Elliot Moshoke told BusinessWeek that the group is hoping for a P30.5 million bailout from the Citizen Entrepreneurial Development Agency (CEDA) to re-open its stores.
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...