What would you do if you get Fifteen Million Rand?

Yet again, the South African government’s corruption makes headlines.

The reveal of a sport’s center in the Eastern Cape, that supposedly cost R15m to build, has come to many as a surprise as there is not much that one can identify that would even come close to the R15m price tag.

The so-called state of the art facility consists of the following:

  • 780m palisade fencing
  • Rugby field and soccer field (the same field)
  • Grass athletics track
  • Steel grand stands
  • Ablution facilities (shower facilities)
  • Change rooms
  • Borehole water drilling facilities
  • Rainwater catchment tank
  • Sewer system with septic tank
  • Guardhouse

When looking at images of the facility at its launch, it is actually quite shocking to think how deeply penetrated the South African government is with corruption. The municipality who is in the spotlight for the so callees sports facility has not given a response since the launch.

They are not alone; they are just one of the unlucky ones who got caught in the act as the local municipalities get media attention around election periods. But this is a key issue in most of the South African municipalities, in fact, only 28% of municipalities in South Africa were able to submit quality financial statements for.

It’s already too late.

Unfortunately, it might already be too late given the current financial situation the country finds itself in. Our local communities and more importantly our rural communities are unfortunately the ones who are affected the most, fair enough, the government is essentially just stealing more of the tax payer’s money, but the end user of the intended spending is not going to benefit from it, they lose out on key opportunities which could arguably have the potential to be worth more than R15m in the future and lead to economic opportunities for the rest of the community as well.

Our local economy is unsavable the way things currently stand. If we think the situation is bad now, just wait and see how stunts like this from all over South Africa’s corrupt municipalities will inevitably be the downfall of an entire nation

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Caveat Capital MGMT (Pty) Ltd is a CATII – Authorized Financial Services Provider (FSP no. 24777) registered at the South African Financial Services Conduct Authority (FSCA).