Finance Minister Pravin Gordhan hosted Canada’s Minister of International Co-operation, Julian Fantino, on the sidelines of the World Economic Forum, to pen a 10 million Canadian dollar deal.
The deal, Gordhan confirms, will be largely cash-funded. “It’s an extension to National Treasury’s technical assistance”, he adds. The Minister also says the deal adds to the R86 million that Canada has pumped into the country in the past. He says it will go towards technical, strategic and organizational requirements like the development of Public Private Partnerships as well as the general improvement of government departments.
The transaction means Canada will get to explore more opportunities as well as increase its solidarity with South Africa. In Gordhan’s words, Canada’s involvement will also assist towards resolving development challenges the country faces as a result of the size of our democracy.
“Canada’s tax administration has also helped us with audit expertise, which there has been a shortage of in the country”, adds Gordhan. The Minister further says the financial assistance will help the country’s development deficit. He has thanked the Small Enterprise Development Agency for being part of the deal, also adding that he hopes Canada’s friendship and partnership in development assistance continues to grow and spread across the continent.
Taking his turn to address attendants, Fantino was quick to point out that he has been impressed with meetings he has had with the South African delegation thus far. He says: “I will leave South Africa with a positive impression. I am looking forward for more co-operation and collaborations for further efficient relations.”
According to Fantino, his visit underlines success Canada has had with South Africa, thus extending the strategic relationship by signing this deal.Visit the World Economic Forum on Africa 2013 Special Report here
– By Tshepo Tsheole, WEF, Cape Town
