The rich keep getting richer
Tuesday, April 16, 2019
An authoritative report released on Monday by AfrAsia Bank and New World Wealth estimates that total individual wealth jumped 46% in value between 2008 and 2018.
The report does not identify individuals, the sectors or businesses they are involved in or their nationalities
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...