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PPP best positioned to carry development projects

Thu, 12 November 2015 22:10
by Villager Reporter
News Flash

Ministry of Finance Deputy Minister Natangue Ithete noted that while government is traditionally tasked with the delivery of public services, Private Public Partnership (PPPS) should become the norm for better developmental projects.

Talking today at the conference on Public Private Partnership (PPPs) organized by Standard Bank Namibia and Deloitte Namibia with the collaboration with the PPP unit of the Ministry of Finance, he said, “Traditionally, governments have been directly and exclusively involved in delivering such public services. The pace at which the government can develop additional infrastructure is however limited-by the amount of fiscal space available each year for undertaking development projects.”

Ithete also said that through PPPs, “We can leverage private sector finances to meet the development needs in our economy. Further, public funds freed thanks to private investments in conducive infrastructure sectors are then available to be deployed towards other priority areas on our development agenda.”

He, however, warned that private investments in infrastructure through PPPS can be a complex endeavor, and diligent steps need to be followed through the key stages of project development and structuring, developer selection, and contract management in order to achieve desired results.

“Careful consideration needs to be given to impact PPPS on government finances. An intensive developer selection process needs to be followed with an objective of enhancing competition, and achieving value for money. In order to ensure clarity of responsibilities and rights of all parties there is a need to develop comprehensive and clear contracts. Active management is also necessary through the operations phases of the project to ensure compliance with contractual teams, including performance standards, and management of risk events,” he underlined.