R1 Billion Investment Attraction Mandate to the Newly Appointed MEGA Board

Monday, December 13, 2021

The newly appointed board of the Mpumalanga Economic Growth Agency (MEGA) is expected to facilitate investment attraction of R100 million into the province by the end of March 2022.  This was a clear mandate given by the MEC, Mr PV Mkhatshwa at the induction workshop of the new board members that took place at the Ingwenyama Conference Centre, White River. 

The new board, appointed by the Mpumalanga Executive Council, is composed of 10 members, also has a mammoth task of attracting R1 billion worth of investment into the Province in the outer years (2023-2026) in order to support the Provincial Reconstruction and Recovery plan.

“I rely on you as the new Board members of MEGA to bring the much-needed investment into Mpumalanga. I would therefore, like you to develop a clear path for investment into the Province. In that regard, I would like you to focus on facilitating investment of at least R100 million by the end of the current financial year.  Further more, you will have to facilitate investment of at least R1 Billion in the outer years, in support of the Provincial Reconstruction and Recovery Plan”, said MEC Mkhatshwa.

However, in the mist of the above mandate, the MEC was realistic when he mentioned the challenges within MEGA and urged the new Board Members to give more attention to governance challenges.

“Notwithstanding the challenges, I however, direct you to ensure that MEGA moves towards achieving unqualified audit opinion at the end of the current financial year, and a clean audit outcome in the outer years, as part of improving governance issues within the entity”, emphasised the MEC.

The MEC also emphasised to the board the urgent need to rebuild the provincial economy after it suffered serious loses due to the COVID-19 pandemic and also to revitalise the Industrial Hubs in order to be able to attract the much needed investment into the Province and the rollout of the massive industrial programme.