In its determination to bolster economic growth and to unlock the entrepreneurial potential of its locale, the Maluti-a-Phofung Local Municipality has taken a decision to establish the Mayoral Investment Advisory Committee.
A list of eleven (11) knowledgeable individuals from a broad spectrum of fields and industries, who will sit in the inaugural Mayoral Investment Advisory Committee has been finalised and approved by the Council last month.
The first meeting is set to be next month. The Committee will be chaired by the Executive Mayor of Maluti-a-Phofung, Councillor Masetjhaba-Lakaje Mosia.
The Committee will be assisting the municipality in addressing the challenges that are central to the attraction of investment and economic growth of the area of Maluti-a-Phofung.
With the establishment of the Committee, the municipality is taking an inclusive approach to involving other stakeholders, the private sector, and capable personalities to play a pivotal role in the success of sustainable economic development and growth.
According to the Municipal Manager Futhuli Tseko Mothamaha, the Mayoral Investment Advisory Committee will comprise of the political leadership of the municipality, municipal management team, professionals from different sectors as well as other government entities.
“The municipality identified gaps that hinder both the development and the growth of the economy and it is imperative that other stakeholders are also brought on board to tackle the challenges that obstruct the economic development,” he said.
Maluti-a-Phofung is faced with the challenges of, among others, a high rate of unemployment, low economic growth, and sustainability of industries, high poverty levels, inadequate supply of energy and water, vulnerable economic streams as well as access to funding by SMMEs. This situation has been further worsened by the outbreak of Covid-19.
In exploring the ways through which the municipality can mitigate the situation, the Committee is expected to play a key role in terms of providing strategic guidance in unlocking economic opportunities and luring investment into the area of Maluti-a-Phofung.
It will look at the attainment of sustainable and inclusive economic growth, sustainable and strategic infrastructure development, economic transformation, job creation, investment leveraging, and the comprehensive marketing of the municipality.
The Committee is also intended to develop an understanding of business climate in terms of market-related forces and industry trends, and also to make strategic inputs on bankable value propositions that will respond accurately to problem statements around economic growth, transformation, job creation, and strategic infrastructure investment.
The Committee’s term of office will be for one year.