Government invites private investment to revive Telkom Towers amid accountability concerns
Government has opened the door to private-sector investment in Pretoria’s troubled Telkom Towers, but Parliament says redevelopment must not come at the expense of accountability for billions already spent on the property.
The South African government has invited private investment to revitalize the Telkom Towers complex in Pretoria, amid concerns over accountability for past financial losses. The Department of Public Works and Infrastructure (DPWI) issued a Request for Information (RFI), seeking proposals for the redevelopment of the Telkom Towers, Department of Public Works House, and the Central Government Office.
The project, estimated to cost between R1.8 billion and R2.2 billion, aims to generate R4.5 billion in private-sector investment and create 12,700 construction jobs. Minister Dean Macpherson stated that the RFI would assess the project's technical, commercial, and financial viability, including potential Public-Private Partnership (PPP) models, funding, risk allocation, affordability, and value for money.
The redevelopment could provide 106,000 square meters of leasable space and save almost R7 million a month currently incurred. However, the Portfolio Committee on Public Works and Infrastructure Chairperson, Carol Phiri, expressed concern that the RFI did not fully address Parliament's accountability issues surrounding the troubled property's history.
Phiri emphasized the need for a forensic investigation to identify responsibility and recommend corrective actions. The committee remains committed to ensuring effective utilization of state assets while holding the government accountable for past expenditures.
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