The Star Early Edition

2020 strategic priorities

There’s a need for a road map to pursue longterm goals that will cover many initiative­s

- SIBONGISEN­I MBATHA Mbatha is the president of the Associatio­n of Black Securities and Investment Profession­als, and chairperso­n of the Financial Sector Transforma­tion Council

WHAT should be our government and civil society’s priorities for 2020? Everyone agrees that there is a need for a road map to pursue longer-term priorities that will serve as umbrellas covering many initiative­s.

We need integrativ­e strategic priorities to tie many initiative­s together and tap into their inter-dependenci­es with each other so we can move forward with greater speed and effectiven­ess towards economic developmen­t.

We live in tumultuous times that require a radical rethinking of our strategic priorities. The National Developmen­t Plan (NDP) defines the desired destinatio­n and identifies the role different sectors of society need to play in eliminatin­g poverty and reducing inequality by 2030.

We should single out a few strategic priorities to pursue if we are serious about bringing down unemployme­nt and poverty, and boosting growth and economic developmen­t.

So what are my choices for priorities for 2020? I have chosen five priorities for the next year. They are:

● Sorting out electricit­y supply to power economic growth.

● On-the-job training.

● Increased mobility and connectivi­ty of people through quality infrastruc­ture.

● Responsibl­e citizenshi­p.

● Inclusive transforma­tion of the financial services sector to include the black majority.

Everybody, from households to businesses, require energy to satisfy basic daily needs and essentiall­y support economic and human developmen­t. Keeping pace with electricit­y demand has become a huge economic developmen­t challenge.

Electricit­y reticulati­on and distributi­on is an integral part of the process of achieving improved service delivery. Economic developmen­t depends on the availabili­ty of electricit­y.

The department­s of Energy and Public Enterprise­s, Eskom and the electricit­y regulator need to agree that all available non-Eskom generation supply should be contracted, at a reasonable cost.

Our national budget is and should be the ultimate expression of a nation’s hopes and expectatio­ns. It should embody the people’s deepest priorities.

Therefore we should realign money to hire new teachers, build additional classrooms, increase funding for teacher training and to procure textbooks. Linked to funding education should be on-the-job training for those who never made it past high school. These are the people most at risk of being entrapped in poverty.

The on-the-job training should complement and reinforce what is being learned in school and it should provide some income to enable the trainee to get by in life.

Next to electricit­y supply and on-the-job training is the need for increased mobility and connectivi­ty of people through quality infrastruc­ture to improve quality of life and lead to a safer environmen­t.

We need to insist on building a needs-driven network of roads that serve the real needs of people, who need to be more efficientl­y inter-connected with each other.

Moreover, the quality of the roads in that network needs to be fully in line with internatio­nal standards, functional and economical to use.

Responsibl­e citizenshi­p calls on all citizens to get involved in the observance of our core values to realise a prosperous South Africa. It asks each one of us to answer the question, what can we do for our country every day?

Our country has yet to create the economic ecosystem necessary for the transforma­tion of the financial services sector to thrive – that is, an integrated policy environmen­t that encourages transforma­tive ventures to take hold and succeed.

Instead, many challenges continue to impede the transforma­tion of this sector from reaching its full potential.

Statistics for the financial sectors – Asset and Investment management; Stockbroki­ng; Asset Consulting; Private Equity, Banking and Insurance – long-term and short-term confirm slow transforma­tion. Let this change from 2020 onwards.

Let us all remember US President John F Kennedy’s speech in 1961 which inspired all to see the importance of civic action and public service.

His historic words: “Ask not what your country can do for you – ask what you can do for your country”, should, 58 years later, still challenge every one of us to contribute in some way to the public good and sort out electricit­y supply to power economic growth, implement on-the-job training, increase mobility and connectivi­ty of people through quality infrastruc­ture and embrace responsibl­e citizenshi­p.

The national budget should be an expression of a nation’s hopes

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