Moti proposes Zimbabwean model for South Africa's ...

Moti proposes Zimbabwean model for South Africa's economic revival

Philemon Jambaya

Assistant Editor

Renowned businessman Zunaid Moti has outlined a practical roadmap for South Africa to attract investment and stimulate economic growth, drawing on his successful venture in Zimbabwe. Speaking at the MCCI Energy and Investment Conference 2024, Moti emphasised the pivotal role of Public-Private Partnerships and the Build-Operate-Transfer model in unlocking the country's economic potential.

“Investors are often hesitant to invest in Africa due to perceived risks,” Moti said. “However, PPPs can mitigate these risks by sharing responsibilities and benefits between the government and private sector.” He proposed that the South African government could underwrite a portion of investments in public infrastructure projects to encourage private participation," said Moti.

Moti’s company, African Chrome Fields , has flourished in Zimbabwe through a strategic partnership with the government. The mining and mineral beneficiation company has created over 600 jobs and produces 30,000 tonnes of high-grade chromium concentrate monthly.

Moti also advocated for the widespread adoption of the BOT model, citing its effectiveness in Zimbabwe. “This model allows private companies to invest in infrastructure, operate it for a specified period, and then transfer ownership to the government. It's a win-win for both parties,” he explained.

The businessman criticized traditional black economic empowerment programs, arguing that they have primarily benefited a select few. He proposed a more inclusive approach, drawing inspiration from his experience in Zimbabwe.

“We’ve created a model where small-scale miners can participate in the production process at our mine,” Moti said. “This empowers them to generate income, buy equipment, and expand their operations. It’s about creating opportunities, not handouts.”

By sharing his insights and experiences, Moti has offered a compelling case for South Africa to adopt similar strategies. His emphasis on PPPs, BOT, and inclusive empowerment models presents a potential blueprint for the country’s economic revival.