More salaries than investment
The municipal entity tasked with attracting job-creating investment to Tshwane, the Teda, has not done much but paid salaries, the DA claimed.
Stephané Bothma
Instead of drawing up investment plans, the Tshwane economic development agency (Teda) seemed to draw only salaries, the Tshwane metro council heard on Thursday.
Since June last year, the Teda had spent R28 million – 50% of which had gone to employees and a further 3% to board members – said DA councillor Cilliers Brink addressing the first council meeting of 2016.
The Teda is a municipal entity tasked with attracting job-creating investment to Tshwane.
Brink said if one looked at the Teda’s scoreboard for its half-year performance, it was quite abysmal. He summed it up as follows:
Rand value of investment attracted to city:
Target: R500 million
Achieved: R0
Excuse: This will happen in Quarter 4.
Number of trade reports or studies conducted:
Target: 1
Achieved: 0
Excuse: This will happen in Quarter 4.
Number of income earning opportunities facilitated:
Target: 100
Achieved: 0
Excuse: This will happen in Quarter 4
“There are two possibilities in regard to Quarter 4,” Brink said.
“Either the Teda is saving all of its powers until the end of the financial year or Quarter 4 is a magical place where the Teda sends all its problems,” he told the council.
He said as shareholder of the Teda, the municipality had to face the facts and see Teda as a cost centre.
Brink said the Teda had spent 19% on projects and a minuscule 3% on marketing, trade and investment.
During the past six months the entity “made mention” of initial stages of implementation of an agro-processing hub and an inter-model freight terminal and logistics hub.
“It will also host an investment conference, refurbish Groenkloof nature reserve and publish an investment booklet,” Brink said.
Brink concluded that the work of the Teda could be done more effectively and under tighter and cheaper control by a small investment unit in the mayor’s office.
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