Power crisis could be the bane of growth
Friday, June 13, 2008
In its Annual Report for 2007, the Central Bank says in the short-term, the economy, which grew by 6.1 percent in 2006/2007, will receive several sector-specific stimuli that should boost growth.
These include momentum arising from the beneficiation of diamonds and other minerals, as the new Diamond Trading Company Botswana comes into full operation.
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...