Stanbic Bank Takes Budget Breakdown To Francistown And Maun
Monday, February 08, 2010
The 2010/11 National Budget will be announced today by the Minister of finance and Development Planning, Kenneth Matambo."Stanbic Bank believes in educating the public on matters of finance that impact their lives. We have noticed that a lot of people do not understand the budget speech, and are left in the dark as to how their lives, businesses and jobs are affected by the nation's budget.
"This is why we saw it fit to host these two events in Francistown and Maun, so as to increase the reach of the interpretation of the budget speech," says Leina Gabaraane, Managing Director, Stanbic Bank. Martin Makgatlhe, the CEO of Motswedi Securities and Garry Juma, an analyst at the same company, will together give the main addresses of the two events.
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...