“The NDP is an excellent document. I’ve seen many such plans in my responsibilities, this is one of the best I’ve seen. It has everything there, from the premises, the roadmap, the benchmarks, the things which have to be done in different consideration. A plan has to balance many things and it has,” the African Development Bank’s President Donald Kaberuka told CNBC Africa on Tuesday.
“The asset for South Africa will be whether that plan is implemented because, as a friend of mine likes to say, 'you should never confuse an action plan with an action'. This plan is very good but I think now South Africans must get down to implementing it because all the solutions are there.”
At the opening ceremony of the African Economic Conference, which took place this week in Johannesburg, South Africa, Kaberuka cautioned that Africa's recent economic gains will only be sustained by implementing proper policy and attracting investment.
“Ethiopia has no oil, no gas. Kenya until recently had no oil, no gas but they are some of the fastest growing countries in the region – it can’t be because of oil and gas. I think it’s a consolation of policies, attracting FDI [Foreign Direct Investment]. The natural resource [concept] should be put into context,” he said.
“In the current growth story, your commodities, natural resources will account for no more than 30 per cent, the rest is services.”
Kaberuka added that with regards to South Africa’s policy specifically, the country’s National Development Plan (NDP) will encounter criticism but that it can be used to improve and enhance the plan.
“Every policy document will have some critics. I think they should be listened to. It doesn’t mean they’re right but it means that for documents like the national plan, as you begin to implement it, you see things which you need to fine tune, to change here and there. The contribution of the critics is useful but I don’t think to call into question the fundamental correctness of what this plan articulates,” he said.