South Africa: Promise Tracker - Ramaphosa's Infrastructure Fund Is Yet to Get Off the Ground

analysis

A year on, there is little to show for President Cyril Ramaphosa's economic stimulus plan - especially his promise of launching a 'mega' infrastructure fund. In theory, the fund, which will draw private sector funding and skills, is noble. But protracted discussions about the role of the government, business and labour in the fund have delayed its launch.

It has been nearly one year since President Cyril Ramaphosa revealed a fiscal stimulus and economic recovery plan to yank SA from its deep economic morass. But there's little progress to show for one of the plan's key measures.

Emboldened by Ramaphoria, the initial burst of optimism and goodwill that came with Ramaphosa's election as president, he announced a fiscal stimulus plan on 21 September 2018, which included the launch of a "mega" infrastructure fund.

The fund was a noble idea because it would leverage already allocated government funds and draw in private sector resources, while bringing private sector expertise to run economic growth and employment-inducing infrastructure projects.

After all, implementing infrastructure-led models is how many countries reformed their struggling economies to become global superpowers.

In helping to lift the US out of the Great Depression in the 1930s, former US president...

See What Everyone is Watching

More From: Daily Maverick

Don't Miss

AllAfrica publishes around 700 reports a day from more than 140 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.