Sefalana Botswana Weathers Storm
Monday, January 28, 2019
The division’s Sefalana Cash & Carry Limited contributed 55% and 23% to the Group’s revenue and profit before tax for the reporting period, the Group’s Finance Director Mohamed Osman announced on Friday.
The Sefalana Group’s revenue stood at P2.5 billion for the six months up to October 2018, up 13% on prior period and profit before tax rose by 25% on prior year to P103.6 million.
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...