South Africa should use innovative financing to propel its development

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South Africa is serious about meeting the challenges and critical targets set out in its National Development Plan (NDP) to boost economic growth and create much-needed jobs.

[fulltext] =>

South Africa is serious about meeting the challenges and critical targets set out in its National Development Plan (NDP) to boost economic growth and create much-needed jobs. However, the challenge will be that, in order to implement this plan, massive amounts of funding will be required.

 

One secure and sustainable way of providing the funding is to utilise Innovative Financing for Development (IFD) mechanisms to determine new sources of revenue and manage, leverage and protect these revenues. This is done using the country’s own domestic resources, by placing micro-contributions on globalised activities such as telecommunications, for example, and without increasing foreign debt.

 

IFD can be a game-changer for sustainable development and can be applied to any South African development priority. The only real catch lies in creating buy-in, commitment and political will and it is the South African government that needs to lead the charge.

 

Read full article. 

 

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South Africa is serious about meeting the challenges and critical targets set out in its National Development Plan (NDP) to boost economic growth and create much-needed jobs.

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South Africa is serious about meeting the challenges and critical targets set out in its National Development Plan (NDP) to boost economic growth and create much-needed jobs. However, the challenge will be that, in order to implement this plan, massive amounts of funding will be required.

 

One secure and sustainable way of providing the funding is to utilise Innovative Financing for Development (IFD) mechanisms to determine new sources of revenue and manage, leverage and protect these revenues. This is done using the country’s own domestic resources, by placing micro-contributions on globalised activities such as telecommunications, for example, and without increasing foreign debt.

 

IFD can be a game-changer for sustainable development and can be applied to any South African development priority. The only real catch lies in creating buy-in, commitment and political will and it is the South African government that needs to lead the charge.

 

Read full article. 

 

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South Africa is serious about meeting the challenges and critical targets set out in its National Development Plan (NDP) to boost economic growth and create much-needed jobs. However, the challenge will be that, in order to implement this plan, massive amounts of funding will be required.

 

One secure and sustainable way of providing the funding is to utilise Innovative Financing for Development (IFD) mechanisms to determine new sources of revenue and manage, leverage and protect these revenues. This is done using the country’s own domestic resources, by placing micro-contributions on globalised activities such as telecommunications, for example, and without increasing foreign debt.

 

IFD can be a game-changer for sustainable development and can be applied to any South African development priority. The only real catch lies in creating buy-in, commitment and political will and it is the South African government that needs to lead the charge.

 

Read full article. 

 

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