THE anxious wait to find out if government would finance the 2022 Commonwealth Games to be hosted by Durban is over. According to Minister of Sport and Recreation, Filile Mabalula confirmed this week that the finance guarantees for the controversial 2022 Commonwealth Games have been finalised.
“We have consistently indicated that the South African government was and remains committed to the hosting of these Games. We have further highlighted that the government, in the interest of prudency and fiscal discipline, was engaged in an intra-governmental processes related to the necessary and required finance guarantee.
“The Minister of Finance has now signed the Finance Guarantee to the Commonwealth Games Federation. This has now paved the way for government to convene the Inter-Ministerial Committee (IMC) on the Games,” said Mbalula.
The Minister said the IMC, which will be chaired by Deputy President, Cyril Ramaphosa, will conclude the work of the bidding company and wind its affairs down and also constitute a hosting company that will act as a Local Organising Committee (LOC).
“The government through the Department of Sport and Recreation South Africa, as a lead department remains committed to the hosting of these games and remains confident that South Africa will deliver quality and highly successful Games,” said Mbalula.
Durban will host the 2022 Commonwealth Games, the first African city to host the games.
Government expects that about R20 billion in output to the economy which translates to R11 billion in Gross Domestic Product (GDP) growth will be delivered by the 2022 Commonwealth Games.
