28 Nov 2018

Ministry of Finance and Economic Development has for the three financial years 2016/17, 2017/18 and 2018/19, spent a total of P17 201 299.14 on micro procurement, of which, P6 727 089. 18 was for companies owned by youth, women and people living with disabilities.

This, Minister Kenneth Matambo told Parliament was in line with the Government Policy Reform of 2015: on Affirmative Action in favour of youth.

Minister Matambo further explained that the number of youth companies that had benefitted from the ministry’s micro procurement during the same period was 261. Regarding reservation on maintenance, he noted that from 2016 to date, 16 companies owned by youth, were engaged for works amounting to P6 599 527.02 out of a total expenditure of P24 595 850, which represents 26.8 per cent against the set quota of 15 per cent.

He said the expenditure demonstrated that the ministry was fully compliant with the relevant directive.

Regarding the Price Preference, of the nine Invitations to Tender (ITT), which included price preference requirement, three companies owned by youth were successful.

Meanwhile, the lowest tender awarded under Micro Procurement was P106.40, while the highest was P49 888.05.

With regard to maintenance, the lowest tender warded was P2 380, while the highest was P3 016 982.86.

For Price Preference, the lowest was P2 542 000.64 while the highest was P3 016 982 86.

Specially elected MP Mephato Reatile had wanted to know the names and number of youth companies that had benefitted from the finance ministry including parastatals and independent departments under Government Policy Reform of 2015: Affirmative Action in favour of youth. ENDS