Local capital to drive infrastructure: ANC
Local capital needs to be used to drive infrastructure, says ANC MP Thaba Mufamadi.
Local capital needs to be used to drive infrastructure, ANC MP Thaba Mufamadi said on Tuesday.
"Instead on relying on public-private partnerships, more emphasis should be put on public-public partnerships," Mufamadi told reporters in Johannesburg.
The African National Congress was discussing its policy discussion documents with the media on Tuesday. Mufamadi led the party's sub-committee on economic transformation.
In its draft policy discussion document on economic transformation, the ANC says state-owned enterprises (SOEs) and development finance committees have to collaborate through public-public partnerships which planned and implemented strategic programmes of the developmental state.
Private-public partnerships were still needed.
Mufamadi said ANC branches needed to focus government policy on problems in the SOE and development finance institution (DFI) sector. These included the lack of a clear agenda for SOEs and DFIs, and a poor alignment with government policies.
Trying to strike a balance between the interests of the public and the enterprise was difficult for SOEs and DFIs. Other problems were disjointed good governance, viable and effective SOEs and DFIs, and the capacity for effective ownership.