Mutshamaxitulu Tatana Mdakane, Holobye Patel, N'wa-Kotane, Manana Mahlangu na wena mufana wa hina Lethu, vuyeni byo xiximeka, swirho swa Palemende na vanakulorhi va ANC, xiphemu lexikulu xa Mpimanyeto wa 2012 i xiyenge xo kongoma eka Nkunguhato wa Ikhonomi ni Vuhlanganisi. Swi teka 84% hinkwayo hikokwalaho ka ku va nongonoko lowu wu langutisanile na ku hundzisela kun'wana, ku katsa na swiavo swo kongoma eka Swivandla swa Nhluvukiso wa swa Timali, DFIs, xikan'we na minongonoko yin' wana leyi pfunaka mavandla na mimfumo yo karhi.
Makulele ya Nkunguhato wa Ikhonomi na Vuhlanganisi ya kombisa mpimanyeto lowu wu kulaka hi 6,35%. Hikokwalaho ka ku va xiphemu lexikulu xa mpimanyeto xi nga langutisana na ku hundzisela kun'wana, kutani swivutiso hileswaku vaamukeri va xuma xo tirha hi ndlela leyi va fanele ku rhangeriwa hi ndlela leyinene va tlhela va chivirika. Komiti yi fanele ku kongomisa leswaku milawu ya mfumo ya hlayiseka. Yi fanele ku kambisisa ni leswaku hinkwaswo swi famba hi ndlela leyinene. Mi nge hi endzela switsongo eka ririmi ra Xinghezi. (Translation of Xitsonga paragraphs follows.)
[Mr X MABASA: Chairperson Mr Mdakane, Minister Patel, Miss Koyane, Madam Mahlangu and our younger brother, Lethu, honoured guests, Members of Parliament and friends of the ANC, the biggest part of the 2012 Budget is the section that deals with economic planning and coordination. It takes the entire 84% because this programme is faced with the conveyance of among others, direct allocations to development financial institutions, as well as other programmes that help other institutions and departments.
The budget for economic planning and coordination shows an increase of 6, 35%. Because the biggest part of the budget has to be transferred to other sectors, the question is whether the people who are responsible for it have the necessary expertise. The committee should ensure that government legislation is preserved. They should also interrogate whether everything goes according to order. Let me change to the English language for a while.]
The ANC's policy perspective on issues of governance of development financial institutions is central to evaluating the impact of allocations made to various institutions. For economic development to sustain itself, the developmental state must use the strength of DFIs to support and direct private-sector investments in the productive sector of the economy so as to stimulate manufacturing and promote entrepreneurship.
The creation of new firms and industries is key to BBBEE as opposed to tender dependence upon the state. Development finance institutions must therefore play an underpinning role in the state in directing national economic development through the mobilisation of domestic and foreign capital and other social capital formations and partnerships to achieve stated policy objectives.
The key objective is to ensure that development finance institutions remain powerful instruments for economic transformation and the developmental state should guide the desired outputs and outcomes of the state investment in these institutions.
Evolving policy towards DFIs must seek to advance the key objectives of economic transformation and strive to advance the ANC government programme as outlined in the New Growth Path. I emphasise "the ANC". [Laughter.]
There is a need to ensure that these institutions, as well as nonfinancial institutions like the Small Enterprise Development Agency, are accessible to our people and are able to effectively channel financial and institutional capacity towards a variety of economic transformation objectives, including industrial diversification and development; small business and co-operative; small scale agriculture microenterprises; local, regional and economic development; and the empowerment of youth, women and people with disabilities. Therefore the overall objective and mandate of DFIs is to advance the socioeconomic and political agenda of a developmental state, promote social cohesion and create decent jobs, skills and training development.
The complexity of conflicting objectives and the multiplicity of legislation and policy frameworks of different departments at different spheres of government and their entities require a clear strategy. The challenges of political mandates and expectations have in the past years led to serious misunderstanding between the political authority and the boards of these institutions. In some instances the conflict is as a result of the Public Finance Management Act and now the new Companies Act, which determines how these organisations should work to comply with their respective pieces of legislation. Improving the governance of DFIs means that government has to clearly define mandates and to set measurable objectives for each DFI and create a common framework in shareholder management.
Oversight is required by us as parliamentarians to ensure that the efforts of DFIs are optimally aligned with the state's development agenda. Two main mechanisms are required, namely the preparation of overarching DFI policy and legislation, including governance issues such as defining and standardising the relationship between the executive authority, shareholders and the DFI across government.
Co-ordination of the DFI mandates at institutional level requires that shareholder departments are co-ordinated. We certainly must see, as part of the process, the establishment of a DFI council as a means to strengthen co- ordination.
Eka DA, vusiwana byi susa ntsena hi idiyoloji ya manyunyu yo fana na leyi ya ANC. Ti-idiyoloji tin'wana ku fana na ya "neoliberalism" [neyoliberalizimi] ti nga ka ti nga pfuni munhu eAfrika-Dzonga.
Tatana Hoosen, swi lava leswaku mi hamba mi ya etihlengeletanini. Loko kuri na nhlengeletani tekani bege mi ya. Mi ta kota ku yingisela na ku twa leswi vulavuriwaka. Loko mi hlamula mi ta kota ku hlamula leswi nga swona. Swa antswa mi sungula mi kula mi nga si nyikiwa ndhwalo lowu nga ta mi tika. Vukulu bya wona byi ta hundza makatla ya n'wina wu mi tika. Ndzi hetisa hi ku vula leswaku ... (Translation of Xitsonga paragraphs follows.)
[To the DA, poverty is alleviated by a proud ideology, like that of the ANC. Other ideologies such as "neoliberalism" cannot help anybody in South Africa.
Mr Hoosen, you should attend meetings regularly. If there is a meeting, take your bag and attend. Then will be able to understand what is being discussed. When you respond, you will respond appropriately. You should be mature before you are given a heavy load or its heaviness will surpass your shoulders and be too heavy. I conclude by saying ...]
... the boards of DFIs require competencies and a public sector ethos to affect the developmental mandates efficiently. The roles, functions, memberships and relationships need to be enhanced. The operational authority of boards must give effect to policy directives of the shareholder. What is critical to officials of the department is to hold the poor in your hands as you push them up the ladder of economic development. Walk them through the journey and trust them and they shall not falter. Thank you. [Applause.]