Abrupt end to Chiefs, DC Tours’ P68m deal
Friday, June 02, 2023 | 570 Views |
Big dreams: The Chiefs’ committee is pushing ahead with the River Plate Stadium project
The two parties signed a mega P68 million sponsorship deal in February this year, much to the excitement of Magosi supporters who have seen first-hand their side’s financial struggles over the years. The deal was set to run for 10 years until 2033.
Earlier this week, rumours started circulating that the relationship between the two sides has broken down, just a few weeks after the end of the season. The news was confirmed yesterday by the club chairperson, Victor Kobe who also said they are not in a position to reveal the reasons.
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...