• Change of culture needed

    The right leadership will help SA shed its culture of violence, says Mandi Smallhorne.

  • 10 tips to find bargains

    Susan Erasmus gives advice on how bargain hunters can get the most bang for their buck.

  • Inside Labour

    Labour's bitter breaches need to be seen in historical context, says Terry Bell.

Loading...
See More

Mkhize: NDP is not a pipe dream

Sep 13 2013 15:13 Sapa

Zweli Mkhize. (File)

Related Articles

Start implementing NDP, urges Ramaphosa

Sarb: Banking sector well capitalised

SA businesses uneasy ahead of elections

Gordhan: SA can manage budget deficit

Trade conditions remain positive

Ramaphosa: Business critical for NDP

 

Johannesburg - ANC treasurer general Zweli Mkhize said on Friday that South Africa's economy remains strong, adding that country's banking sector is well respected, while lauding the progress made on the National Development Plan (NDP).

 "South Africa benefited from its tight monetary policy which effectively ensured that the financial services sector was insulated from the global financial crisis," Mkhize said in a speech prepared for delivery at a private equity conference in Mauritius.

"The banking system continues to be among the most respected in the world."

He said the fact that the country hosted the Fifa Soccer World Cup in 2010 had created a "comfortable cushion" for the economy and helped it weather the storms of the 2008 global financial crisis.

Mkhize explained the role of the NDP, which aimed to eliminate poverty and reduce unemployment and inequality by 2030.

"According to the plan, South Africa can realise these goals by drawing on the energies of its people, growing an inclusive economy, building capabilities, enhancing the capacity of the state, and promoting leadership and partnerships throughout society."

He said the NDP integrated with the initiatives of the African Union in terms of various infrastructure initiatives and programmes of governance.

We all have a role to play

"I believe we all have a role to play in the NDP, and that this role can be extended to global investors as investment opportunities arise from the NDP."

Mkhize said government's commitment of R3 trillion was an unprecedented quantum of investment in the history of the country.

"The figure will be compounded when private sector commitments come onto stream, with large investment expected in the mining sector, manufacturing, and value addition and various social and economic infrastructure projects," he said.

"Many of the NDP projects are already in progress, making the NDP a practical programme rather than a pipe dream or political rhetoric."

Private equity in South Africa continued to be a significant industry which provided much-needed capital to grow the economy.

As of December 2012, the country's private equity industry had about R127bn in funds under management, with the financial sector dominating approximately 60% of the total funds, Mkhize said.

Sectors such as energy, telecommunications, consumer goods and services, and health care remained under explored from a private equity perspective.

"This presents potential opportunities for investors looking for exposure in these sectors," he said.


Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

ndp  |  zweli mkhize  |  sa economy

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
13 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

Brought to you by BizNews

More from BizNews

We're talking about:

SMALL BUSINESS

Johannesburg has been selected to host the Global Entrepreneurship Congress in 2017. "[The congress] will ensure that small business development remains firmly on the national agenda and the radar screen of all stakeholders, the Small Business Development minister said.
 
 

Top 10 richest musicians of all time

Check out the gallery to find out who they are!

 
 

Luxury living

10 of the most expensive things that will leave your jaw hanging!
Seven of the most expensive children's toys ever made
5 millionaires turned murderers
The youngest billionaires in the world and how they made it

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

How do you see your boss? He/sheis:

Previous results · Suggest a vote

Loading...