Listening to Public Enterprises Minister Pravin Gordhan’s budget speech on Tuesday I was swept by the blossom of greatness he embodies. In Gordhan, and lately Lindiwe Sisulu on the Palestinian question, President Cyril Ramaphosa’s ‘new dawn’ is a bright light after the darkness of the corrupt Jacob Zuma regime. South Africans have answered the call to be sent to recapture the constitutional state, restore the state-owned enterprises (SOEs) and renew the promise of 1994. Gordhan’s estimate of some R100bn that has been stolen does not talk of the opportunity costs of those billions. In a study we conducted at the Industrial Development Corporation in 2005 at the request of the department when it was under Alec Erwin, titled An Analysis of the Macroeconomic and Sectoral Impact of the Capital Expenditure Programmes of Eskom and Transnet over the Period 2005 to 2010, we showed the positive impact of an estimated R134bn spent by Eskom and Transnet over the period. The study showed that th...

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