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Despite spending close to a million rand on international and local roadshows, the Gauteng Infrastructure Financing Agency (GIFA) cannot show any return on investment or benefit to Gauteng residents. This is very worrying, given the high unemployment rate in the province is high.
GIFA held three international and one local roadshow since the 2019/2020 financial year.
This information was revealed in a written reply to the Democratic Alliance’s (DA) questions tabled in the Gauteng Provincial Legislature (GPL) to the Gauteng MEC for Finance, Jacob Mamabolo.
According to MEC Mamabolo, R943 818,00 was spent on road shows to London, Cape Town, Mauritius, and Egypt.
While discussions were held with potential investors, there has been no commitment from the private sector to invest in the Gauteng economy.
The fact that there has been no buy-in from international investors is a sign that under the leadership of Premier Panyaza Lesufi, the correct environment for job creation has not been created.
In addition, the DA has learnt that the roadshows by GIFA have been removed from the Annual Performance Plan. This means that no budget has been set aside for this.
To attract investors from South Africa and abroad, the Gauteng Provincial Government must cut the cumbersome red tape investors must go through.
Where we govern in the Western Cape, red tape has been cut, the benefits of which are seen in their lower unemployment rate.
The DA, through the Portfolio Committee, will be asking MEC Mamabolo and GIFA to give an account of how they will ensure that more Public Private Partnerships are created. We will also be tabling follow-up questions to the MEC to determine why the roadshows have been removed from the Annual Performance Plan and what mechanisms will be used to attract private investment.
Issued by Adriana Randall MPL - DA Gauteng Shadow MEC for Finance
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