A new report by the National Planning Commission (NPC) shows that there is a significant build-up of capital in the economy that is not being reinvested in gross fixed capital formation (GFCF), but which needs to be circulated through transactions to drive growth and development. 

'The Transformation of South Africa's Monetary Architecture 1983 - 2024' report assesses South Africa’s monetary architecture, which is the interconnected web of public, private and hybrid balance sheets that channel credit, allocate capital and govern investment. Bongi Gwala is in conversation with the NPC report Commissioner, Prof Mark Swilling.