{"id":308192,"date":"2026-05-21T07:00:00","date_gmt":"2026-05-21T05:00:00","guid":{"rendered":"https:\/\/novanews.co.za\/bloemnewsexpress\/?p=308192"},"modified":"2026-05-21T09:14:13","modified_gmt":"2026-05-21T07:14:13","slug":"mangaung-investment-summit-delivered-little-more-than-promises","status":"publish","type":"post","link":"https:\/\/novanews.co.za\/bloemnewsexpress\/mangaung-investment-summit-delivered-little-more-than-promises\/","title":{"rendered":"Mangaung investment summit delivered little more than promises"},"content":{"rendered":"\n

The DA has called on the Mangaung Metropolitan Municipality (MMM) to provide a full public report on outcomes from its investment summit held in February 2025, saying residents have seen little return on the R4.7 million they paid for the event.<\/p>\n\n\n\n

DA councillor Dirk Kotz\u00e9 said more than a year after Executive Mayor Gregory Nthatisi presented the summit, few of the investment pledges announced have materialised into signed agreements or active projects.<\/p>\n\n\n\n

“Residents deserve answers,” Kotz\u00e9 said, adding that his party would submit questions to the executive mayor on how many permanent jobs have been created since the summit and what measurable economic benefits Mangaung has received.<\/p>\n\n\n\n

According to a municipal report withdrawn from presentation to council in June 2025, the Mangaung Investment Summit cost R4.9 million including VAT. The municipality received R150 000 in direct cash sponsorships, leaving taxpayers with a bill of R4.7 million. Total sponsorships, combining cash and non-monetary contributions, amounted to R900 000.<\/p>\n\n\n\n

The one-day flagship event cost R2.97 million. Expenditure included R980 000 for venue and setup, R645 500 for catering, R485 750 for marketing and printing, R430 800 for sound and visuals, and R437 500 for promotional items.<\/p>\n\n\n\n

Only three direct cash sponsorship deposits totalling R150 000 were received. The remaining sponsorships were non-monetary contributions including bags, branding material, beverages, digital screens and transport services.<\/p>\n\n\n\n

The report stated that total investment pledges announced amounted to approximately R990 billion, excluding a pledge by Ando Renewable Energy which was listed as “to be determined”. Property, housing, information and communication technology (ICT), broadband, healthcare and smart city projects accounted for approximately R24 billion. The Neutrino Energy project alone represented R965 billion, while additional Department of Economic, Small Business and Tourism (Destea)-facilitated projects amounted to approximately R162 million.<\/p>\n\n\n\n

Kotz\u00e9 said the expenses came at a time when Mangaung residents were experiencing collapsing service delivery, deteriorating roads, ongoing water interruptions, sewer spills, electricity failures and refuse collection backlogs.<\/p>\n\n\n\n

“While millions were spent on branding, d\u00e9cor, catering, media campaigns and promotional material, communities across Mangaung continue to wait for the delivery of basic municipal services,” he said.<\/p>\n\n\n\n

The DA councillor questioned how the ANC administration justified millions spent on events while residents lived with failing infrastructure daily.<\/p>\n\n\n\n

The summit<\/a> was hosted against the backdrop of continued regression in the municipality as highlighted by the Auditor-General (AG). It was presented as a major intervention to attract investment, restore confidence and stimulate economic growth in Mangaung<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

DA demands a public report on Mangaung’s investment summit, citing poor returns and ongoing community service failures despite R4.7 million 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