DPWI Minister Dean Macpherson has extended the deadline of the sale of South African state-owned property. Last week the minister confirmed ‘immense interest’ from the private sector to purchase state-owned property, reports The Citizen. As a result, the request for proposals has been extended by one month, to Wednesday 30 April 2025.
As we know from the controversial proposed budget, government is desperately in need of cash. And state-owned property that’s been left to rot is a prime income generator. According to the department, the first phase of 31 properties are valued at around R10 billion. Not only does the ministry believe they will attract huge investment, but the initiative will eliminate costly maintenance and create a projected 165 000 jobs.
SALE OF STATE-OWNED PROPERTY
“The department has been overwhelmed by the interest shown in these properties. Many are strategically located near key economic nodes but have long been neglected,” said Macpherson. Depending on the conclusion of proposals, public properties will be sold entirely. Another option is a lease for an extended period of time. Some may even be turned into public-private partnerships with government.
At the end of April 2025, an independent panel will evaluate all proposals. And this determine the most suitable use cases for each property. “Our programme to release public properties is part of our commitment to drive investment, economic growth and job creation. We look forward to releasing additional properties for proposals as part of the next phase of this initiative,” concluded Macpherson.
R60 BILLION NEEDED
Finance Minister Enoch Godongwana recently announced a 1% VAT increase over the next two years to help generate R60 billion. However, the DA looks set to block the budget proposal. Instead, it favours the sale of state-owned property as an income generator. For far too long, the DPWI appears to have neglected its commitment to vast public assets that should serve the public good.
DO YOU THINK THIS PRIVATISATION IS A GOOD IDEA?
Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1.
Subscribe to The South African website’s newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news.
