National Treasury’s Chief Procurement Officer Kenneth Brown says as much as 40% of Government’s R600 billion goods and services budget is consumed by inflated prices by suppliers – and by fraud.
Brown sites an example of a paper binder that government buys for R25 000 – 13 times what it costs in the shop.
"It means, without adding a cent, the government can increase its output by 30%-40%," said Brown.
"We could be building more roads, more schools without even adding more money to the current budget."
The Money Show’s Bruce Whitfield interviewed Brown.
Scroll down for quotes from the audio below.
We’re spending about R1.8 billion on Microsoft. We’re busy with some serious renegotiations.— Kenneth Brown
We’re renegotiating a number of leases. Government spends about R5.6 billion a year on leases.— Kenneth Brown
We’re looking at the fee structure of construction professionals.— Kenneth Brown
South Africa’s procurement system is way too paper based!— Kenneth Brown
The Money Show’s Bruce Whitfield interviews Aurik Business Accelerator’s Pavlo Phitidis.
Got a spare R200 or R300 a month? Here’s how to make that money work hard and grow…
The Money Show’s Bruce Whitfield interviews Finance Minister Pravin Gordhan who is at the World Economic Forum in Davos.
The Presidency says it values open dialogue, but that it must take place “within the bounds of human decency and decorum".
"Zuma must go. When you are the president who literally laughs off any suggestions that government be held to a higher standard…"
Treasury wants legislation to help it keep tabs on individuals in positions of power in the public and private sectors.
It’s getting worse and worse for Ford, as this report of shocking service shows. John Maytham interviews a frustrated listener.
The Monageng family started with their mom–and–pop corner butchery in 1972 and now have partnership with Pick n Pay in Soweto.
CRL Rights Commission says people who brag about their achievements should be conscious of the damage they might do to others.
Ad hoc committee chair says Parliament could have exercised oversight sooner, before the situation at SABC reached this point.
John Maytham interviews Kaveen Jimmy; who says he has damning evidence against Ford.
What does Citadel’s famed disciple of contrarian, deep-value investing Dr Adrian Saville hope for (and fear) about money?
"Recognise that it’s not the end, it’s the beginning." Expert advise for school-leavers who want to improve their results.
Alex Fourie created iFix in 2006 from his dorm room at university. Today it repairs about 10 000 devices a month.