President Cyril Ramaphosa has called for stronger transparency and accountability in South Africa’s infrastructure development, warning that corruption and wasteful spending could undermine the country’s economic growth.
Picture: PixabaySpeaking at the Sustainable Infrastructure Development
Symposium in Cape Town today, Ramaphosa said government needs to ensure that
infrastructure projects are properly planned and financially sustainable before
construction begins.
He said projects should only move forward when there is
adequate funding and a clear understanding of their long-term financial
viability. This, he said, would help prevent public resources from being wasted
on projects that cannot be completed or maintained.
Infrastructure development is seen as an important part of
South Africa’s efforts to strengthen the economy, create jobs and improve
essential services. Roads, rail networks, electricity, water systems and other
public infrastructure are vital to supporting businesses and communities.
Ramaphosa also highlighted the need for greater cooperation
between different players in the economy. He said government needs to work
closely with banks, pension funds and development finance institutions to
unlock investment and get major infrastructure projects underway.
The President's comments come as South Africa continues to
seek additional investment for infrastructure while facing financial pressures
and growing demands for improved public services.
Greater private-sector participation could help government
access additional funding and expertise, while partnerships with financial
institutions could make it possible to deliver large-scale projects that may
otherwise be difficult to fund through government budgets alone.
However, Ramaphosa stressed that investment must be
supported by proper planning, responsible financial management and
accountability.
The message from the symposium is clear: infrastructure
development cannot simply be about spending money. Projects must deliver
lasting value to communities and contribute meaningfully to the country's
economic development.
With South Africa looking to attract more investment and
accelerate infrastructure development, ensuring that projects are transparent,
properly funded and free from corruption will remain critical to achieving
sustainable growth.
Done By: Keelyn Jardien
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