President Jacob Zuma says R7bn has been committed to new port facilities.
This follows the adoption of a Public- Private-Partnership model for port infrastructure development by Transnet National Ports Authority.
Delivering his State of the Nation Address in Parliament this evening, President Zuma said government was concerned that South Africa did not own vessels while the country is surrounded by about 3,000km of coastline.
“Through the oceans economy segment of Operation Phakisa, we are trying to solve this challenge.
I am pleased that two bulk carrier vessels have been registered in Port Elizabeth, and a third tanker in Cape Town under the South African flag,” he said.
The Operation Phakisa Big Fast results methodology was launched in 2014 and implemented in the ocean economy, health, education and mining sectors.
Through Operation Phakisa, government aims to implement its policies and programmes better, faster and more effectively.
Another positive Operation Phakisa development has been the launch of a fuel storage facility in Cape Town, bringing an investment of R660m.
“Aquaculture appears to be an important growth area within the oceans economy segment of Operation Phakisa. Close to R350,000 private sector investment has thus far been committed in the aquaculture sector."
“Nine aquaculture farms are already in production. These farms are located within the Eastern Cape, KwaZulu-Natal, Western Cape and Northern Cape,” said the President.
Operation Phakisa is an adaptation of the Big Fast Results methodology that was first applied by the Malaysian Government, successfully, in the delivery of its economic transformation programme.
The operation addressed their national key priority areas such as, poverty, crime and unemployment.
It involves setting up clear targets and follows up with on-going monitoring processes which makes the results public.
Through this initiative, the Malaysian government was able to register impressive results within a short period.