KZN Business Sense-Providing Opportunities:Malcolm Hartwell, a director of Norton Rose Fulbright South Africa
2016-01-14
Phakisa means “hurry up†in Sotho.
Operation Phakisa is an initiative of the South African Government designed to fast track the implementation of
development programmes to unlock the economic potential of South Africa’s ocean economy. The initiative is estimated to have the potential to contribute up to R170 billion per annum to the South African economy by 2033.
The ocean economy initiative has been divided into four areas or laboratories, being:
-
Offshore oil and gas: The most significant initiative in this lab is the establishment of a phased coastal gas pipeline with a budget allocation of R1 763 million, to be completed by March 2025. This project is in the early phases with a strategic environmental assessment set to commence in the near future.
-
Marine transport and manufacturing: This lab focuses on infrastructure in all of the South African ports, backed up by the creation and development of industrial development zones and Saldanha Bay and Richards Bay to compliment the one at Coega. These IDZs will obviously create enormous opportunities, not only for those directly involved in port operations, but also for ancillary industries.
-
Aquaculture: This lab focuses on unlocking the potential of the aquaculture sector. It aims to increase revenue from R0.7 billion to R3 billion and create 13 000 jobs. In the main the initiatives focus on creating an enabling regulatory environment, funding support, increasing the skills pool and improving access to market.
-
Marine protection and governance: This lab focuses on ocean protection, marine spacial planning and an integrated framework for governance.
Each of these has a lab report and a plan setting out the initiatives. These can be found on www.operationphakisa.gov.za. Each lab report includes timelines and budgets and identifies the State entities responsible for implementation.
The effect of this arrangement is that the South African government is inviting businesses to identify opportunities, develop plans and funding models to the extent necessary and then to approach the State to either provide funding or form private public partnerships vehicles to drive an initiative. Business people thrive at identifying opportunities and creating businesses that generate revenue and employment.
The challenge is to identify those opportunities and then drive them with the assistance and support of the relevant ministries.
Norton Rose Fulbright South Africa has created a multidisciplinary Operation Phakisa team. The team focuses on identifying opportunities for clients and sectors, providing guidance on initiatives and facilitating meetings with the relevant stakeholders.
www.operationphakisa.gov.za