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A blueprint for the rejuvenation of the South African economy – Finance sector input – Part 2

The Inclusive Society Institute (ISI) hosted a second round of dialogue with the Financial Sector as part of its ongoing research aimed at developing an economic blueprint for growing the South African economy. Whilst round one focussed on what is going wrong in the economy, and how to fix it, round two focussed on generating new ideas. Out of the box thinking that would help catapult the economy onto a higher growth trajectory.

The dialogue was attended by representative drawn from the banking, insurance, accounting & advisory, and the financial analysis fraternity. It was also attended by representatives of the World Bank, and the Organisation for Economic Cooperation and Development (OECD).

A number of innovative ideas were generated during the discussion. They included, amongst others, programmes aimed at pooling private sector resources into a private sector driven and managed bursary scheme specifically geared to deliver the skill set required to grow the economy, and the use of the presidential database of experts (e.g., engineers, accountants, etcetera) to provide, in an effort to reverse the decline in services, support to local municipalities by providing the necessary capabilities. New ideas were also generated with regard to reducing bureaucratic red-tape, and the easing of doing business. New concepts were also raised with regard to South Africa meeting its climate change obligation, how to improve the special economic zones regime, and technology and ICT roll out.

Strong opinions, together with new ideas, were also raised with regard to the need for social cohesion and an active citizenry that is crucial to underpin economic growth and stability.

The report capturing the discussion is expected to be completed by the end of April.


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