BUSINESS MAVERICK: Promise Tracker: Ramaphosa’s Infrastructure Fund is yet to get off the ground

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., 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.

In helping to lift the US out of the Great Depression in the 1930s, former US president Franklin Roosevelt allocated more than $7-billion to infrastructure investments, which also resulted in the unemployed returning to work. The Asian Tigers — Hong Kong, Singapore, South Korea and Taiwan — have also followed a similar infrastructure-investment model that has seen them become highly developed and industrialised economies.

The government would pull together the billions of rand allocated to its fragmented and dysfunctional infrastructure spending programme in a way that leverages additional resources from developmental finance institutions , multilateral development banks , commercial banks and other investors. The government and DBSA have engaged with the investment and pension fund industry, which manages R5-trillion , about providing skills to the Infrastructure Fund and capitalising it.

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