South Africa: Geekonomics

from allafrica.com

Frank Flatters And Matthew Stern
Johannesburg

MILTON Friedman once said: “Only government can take perfectly good paper, cover it with perfectly good ink and make the combination worthless.” When it comes to the design and application of government procurement policy in SA, this view is appropriate. There is too much paper and ink — for slow delivery.

The need to overhaul government financial management and procurement processes has been recognised since the early days of the new dispensation. The Public Finance Management Act of 1999 was an important step forward in the application of effective and efficient financial-management practices in SA.

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