SACU future hangs in the balance
Tuesday, February 26, 2008
Sacu was split last year when Botswana, Lesotho, Namibia and Swaziland broke ranks with SA and signed an interim economic partnership agreement (EPA) that would govern trade with the European Union (EU).
Now, angered by the other members' decision to initiate the pact, it is feared that SA might use their move as a reason to break up the union.
This would have grave economic implications, especially for Lesotho and Swaziland, which rely heavily on revenues from the customs pool.
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...