n IMIESA - Mismanagement of assets : asset management




The problem with road infrastructure is that it is often not seen as a financial asset for society and the economy, largely due to the lack of awareness of its value, and appreciation of its importance as a driver of economic prosperity. The consequence of not fully valuing these assets is similar to increasing one's debt, and everyone becomes poorer. So says Stefan Gerwens, chairman: Road Asset Management Working Group, European Road Forum. In South Africa, this is quite apparent at provincial and municipal levels. Culture and leadership should be recognised as the root cause preventing asset owners, the people of South Africa, from making the best decisions for themselves. However, and to be fair, societal priorities and regulatory pressures are a distraction from long-term thinking and management. As a result, the recognition and application of good asset management by regulators is generally absent.


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