MEC Jacob Mamabolo on building strong partnerships to unlock Gauteng’s economic growth

Gauteng, the economic hub of South Africa, is making strides towards building strong partnerships with the private sector to unlock economic growth and job creation opportunities in the province. In a recent event, MEC Mamabolo, the Finance Minister of Gauteng, emphasized the importance of harmonizing the public and private purse to optimize resources and maximize impact. The province aims to address the challenge of fragmented spending by municipalities, the private sector, and the provincial government by aligning their priorities and resources towards common goals. By integrating assets and liquidity from various balance sheets, Gauteng plans to reduce investment costs and stimulate economic growth. This collaborative approach is expected to inspire young people, foster a sense of national pride, and drive sustainable economic development in the region. The government's commitment to good governance and robust institutions is seen as a critical foundation for economic growth. Clean audits and improved governance practices are projected to create a conducive environment for investment and accelerate economic growth by 5% annually. MEC Mamabolo highlighted the government's efforts to champion good governance and encourage municipalities to enhance their spending efficiency to attract more investment opportunities. The province is engaging in constructive dialogues with the private sector to optimize the utilization of grants and infrastructure funds and ensure effective investment allocation. By fostering transparency, collaboration, and accountability, Gauteng aims to build a strong foundation for sustainable economic development and prosperity. The partnership between the public and private sectors is envisioned as a key driver for driving economic growth, job creation, and building a resilient economy for future generations.