Nhlanhla Nene: Cities Will Make Or Break The Economy

Urban communities are the way to a propserous SA‚ as indicated by Finance Minister Nhlanhla Nene.

Talking at a Gibs business college gathering on Monday‚ Nene stated: “There are numerous pressures‚ both monetary and economic‚ and your urban communities are at the core of that.”

He explained that SA is close to 70% urbanised‚ which contributes to 80% of GDP.

“A stronger accountable leadership is important‚ now more than ever‚” he said‚ adding that SA’s cities cannot afford to fall.

He added that this was imperative in addressing the triple challenges of poverty‚ inequality and unemployment spelled out in the National Development Plan (NDP).

“Achieving success in these areas requires that our cities are well governed.”

Speaking at the same event‚ Treasury director general Dondo Mogajane said if cities collapsed‚ countries collapsed.

“Cities are an important growth engine of the economy. They are an important pillar in the growth story of SA‚” he said.

“Our economy is not growing. What can we do to make sure our economy grows? We have low-lying fruit everywhere.”


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