Regulating public private partnership to attract investment in key development projects: A Namibian perspective
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Date
2019
Authors
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Journal ISSN
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Publisher
University of Namibia
Abstract
This research examines the suitability of the Public-Private Partnership (PPP) Act,
in efforts aimed at attracting investments (both local and foreign) in order to
promote sustainable development in Namibia. The PPP Act in its current form does
not promote private sector participation, does not advance principles of
transparency and probity in the procurement process, does not make provision for
risk allocation and sharing and does not promote involvement of previously
disadvantaged Namibians. The research also aims at ensuring that local investors,
through the concept of Black Economic Empowerment (BEE) and other relevant
legislation, play a significant role in ensuring the basic needs of the Public are
realised and the public's interests are protected. This delicate balance of interest
must culminate in service delivery for the public whilst at the same time ensuring
that investors retain value for their money through PPPs. The research points out
that the world has adapted techniques and concepts that can assist it to best
develop and adapt to the cosmopolitan expectations of its citizenry. Namibia can
therefore draw lessons from countries such as South Africa and Kenya in so far as
the implementation of PPPs is concerned . PPPs have gradually evolved over the
centuries on their form and element and similarly have great benefits to a country
only if the regulatory framework around it is comprehensive and suitable to ensure
that it caters for all the needs of the people involved in the PPP arrangement,
without the one having to suffer at the expense of the other. The research
advocates for a PPP regulatory framework that promotes the spirit, tenor, history,
political and economic setup and objectives of the Republic of Namibia. This can
only be achieved by amending the current PPP Act of Namibia, by including the
establishment of the PPP Unit, standard terms that should be contained in a PPP
contract, how the PPP committee will be appointed, how current PPP projects will
be accommodated and how risk should be shared, how previously disadvantaged
Namibians will be accommodated and how the act will apply to ensure that this
inadequately drafted Act, achieves sustainable national objectives such as BEE
and investment growth.
Description
A thesis submitted in partial fulfillment for the requirements for the Degree of Masters of Law (Commercial law)
Keywords
Public private partnership, Investment