Saturday, September 19, 2009

WC2010: South Africa facing further shortfall of R2.3 billion

What a price paid by the citizenry of the country for a few elite to profit. Direct benefits derived from rewards to the well connected with lucrative contracts and spin-offs, and indirectly, and probably the main purpose for this event, a crude act of braggadocio by the nationalist ANC to demonstrate to the world that blacks are capable of hosting an event of this magnitude.

What happens after the Fifa circus leaves town and what do we do with the empty stadiums? To put into perspective what has been squandered, in a country where 13 million live on government grants, where 40% live on less than US$2 a day, the R30 billion+ spent on the world cup would have built 600 000 RDP houses! Or we could have just given each of those 40% (19,6 million people) R1500. Too late. This is a monster that will continue to gobble up billions for decades to come.

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South Africa is facing a funding shortfall of 2.3 billion rand (£188 million) for the new stadia built for next year's football World Cup, according to Reuters.

"National Treasury has informed me of the projected shortfalls for the 2010 FIFA World Cup stadiums. The total shortfall on the six new stadiums is 2.33 billion rand as of July 2009," Finance Minister Pravin Gordhan said yesterday said in a written response to a question in parliament.

Chief executive of the 2010 World Cup organising committee Danny Jordaan said in June that the new stadia were "shaping up nicely" to be ready ahead of 2010.

The South African economy has slipped into recession for the first time since 1992 following a sharp slowdown in the manufacturing and mining sectors.

2 Opinion(s):

AMB said...

That's ok - they'll just suck the tax payers dry. No prob.

Anonymous said...

"We are ready for 2010". How many times have you heard/read that? When the last piece of the arch was placed in Durban's Christmas-Tree Stadium, it was announced that the city was ready. So how many milestones remain - all showing they are ready? I suppose they were ready the day they turned the sod. Sods!