The debt trap
Friday, November 29, 2019
In too deaep: Many Batswana are caught in the dept trap PIC: BIZNEWS.COM
By that time, Daisy* already had the daily threatening sms from the store card debt collectors. She hadn’t checked her post for ages - for fear of receiving another notice about the outstanding balance on her card. She even hadn’t gone to the wedding at the weekend - she was avoiding her aunt who wanted her loan repaid. Then the furniture company truck turned up outside. Daisy had a bad, sinking feeling…”
Once upon a time (not so long ago) we would go shopping with cash in our wallets to pay for goods. We’d stand in a queue at the bank and cash a cheque - that was the only way we could get money from our account.
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...