The Democratic Alliance in Gauteng fears that the Provincial State- Bank, proposed by Premier Panyaza Lesufi will become another vehicle for corruption and cadre deployment. This will severely impact service delivery in a province where residents are already receiving little to no service delivery.

State-owned entities across the board have been marred by mismanagement and corruption. Entities like Eskom, Transnet and South African Airways are but a few examples of entities that have been mismanaged to the precipice of collapse. There is no assurance that this state-owned bank would not follow this same trajectory.

According to the newly appointed MEC for Finance, Lebogang Maile, the proposed Provincial State Bank, will assist in growing the economy. However, if the ANC-led provincial government is truly committed to ensuring economic growth and that more job opportunities are created they will ensure that they first meet the targets set annually for job creation.

While the DA supports feasible initiatives to grow the economy and create jobs, we believe that the private sector should be enabled to grow the economy, while limiting state participation to creating a conducive environment for growth.

The DA once again demands that the feasibility study into the Provincial State-Owned Bank be made public. We will be submitting questions again to the Gauteng Provincial Legislature (GPL) to determine exactly how the proposed Provincial State-Owned Bank will operate and where the money for this bank will come from.

Gauteng residents deserve a government that is committed to rooting out corruption and not a government that is only focused on enriching those who are politically connected.

 

Issued by Ruhan Robinson MPL - DA Gauteng Shadow MEC for Finance