Retrenchment exercise costs BTC P67m
Monday, January 16, 2023 | 2000 Views |
Anthony Masunga PIC: MORERI SEJAKGOMO
This is revealed in the country’s telecom giant’s financial results for the six months ended 30 September 2022. BTC recently laid off about 196 workers as part of its resource optimisation exercise.
When commenting on the group’s published financial results, BTC Managing Director, Anthony Masunga said the exercise has, however, affected their financial performance during the reporting period.
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...