Procurement should not be measured by whether it secured the lowest price, but whether it creates resilience, enables growth and protects national competitiveness, South African Revenue Service (SARS) Commissioner Dr Johnstone Makhubu said.
Procurement and supply chain professionals must become architects of economic growth, infrastructure delivery, investment confidence and national competitiveness, if Africa is to realise its enormous economic potential, he said at the Chartered Institute of Procurement and Supply (CIPS) Southern Africa conference, on August 4.
In the midst of geopolitical instability, supply chain disruption, climate change, cyberthreats and shifting global trade patterns, procurement had fundamentally evolved from an operational support function into a strategic economic enabler capable of determining whether countries attract investment, accelerate infrastructure delivery, strengthen industrialisation, create jobs and improve national competitiveness.
Africa's economy is projected to grow by between 4% and 4.5% a year over the next decade, outpacing expected global growth, while, by 2050, the continent will be home to about one-quarter of the world's population.
However, this demographic and economic opportunity would only translate into sustained prosperity if governments and businesses build the infrastructure, institutions and supply chains capable of supporting that growth.
