The architects of the “Musina-Makhado Special Economic Zone” promise deliverance for impoverished Limpopo and proclaim themselves visionaries who will give rise to the coming century’s Witwatersrand, built not on gold, but on steel and coal.
It’s a model China evangelises, part of a mining and industry-skewed developmental state orthodoxy to which the SA government is a convert. Since the passing of theThe MMSEZ, as it is dubbed, is a sprawling 60km² SEZ in Limpopo’s northern Vhembe District encompassing multiple development sites, including a Chinese steel manufacturing mega-project at a site north of the Soutpansberg in the Unesco Vhembe Biosphere Reserve that will more than double SA’s annual crude steel production.
In other words, it’s a scheme to stave off a painful and potentially destabilising contraction in China by artificially stimulating demand offshore with debt. But theof loans extended by China to win contracts for the factories that have fallen idle back home in China only makes sense if the borrowers in Africa actually need the industry or infrastructure and can afford to repay the loans. In the case of the MMSEZ, it is improbable that either condition has been met.
The costs of overcoming the water, power and logistical handicaps of the location will be eye-watering and the damage compared with a location in, say, the Witwatersrand rustbelts, greatly amplified. Although the details of the funding plans remain opaque, the internal masterplan puts the price tag to develop the zone at R344-billion, of which the South African fiscus is liable for R96-billion of the bulk infrastructure .
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