Re-claiming the insurance industry for Batswana
Friday, September 27, 2019
This issue, the growth of the economy and unemployment will continue to be the key issues to which we must, as a nation, dedicate our energies.
This is our inconvenient reality. The retail sector is for people of Indian extraction; the construction sector for those of Chinese and Arab extraction; the petroleum sector, for Indian retailers; while the insurance industry is by and large the preserve of people of Zimbabwean and South African extraction (if the word can be used in that context).
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...