When does one throw in the towel? Some of my fondest childhood memories are of evenings spent with my father at West Ridge Park, watching boxing, which was not really my favourite pastime, but my father’s.

I recall many a fight where the losing boxer’s trainer would throw in a towel or a sponge. To throw in the towel means you cannot succeed and admit defeat.

This brings us to Finance Minister Enoch Godongwana’s May 5 announcement of the Southern Africa-Towards Inclusive Economic Development Phase 2 launch, or SA-TIED, for short. If, like me, you missed Phase 1, it’s quite a mission to establish what was achieved in that phase. I have gathered that the programme was launched in 2017 as a partnership involving the United Nations University World Institute for Development Economics Research, the National Treasury and the International Food Policy Research Institute and other parties.

Apparently, it set an ambitious target to produce at least 150 individual research studies during the lifetime of the three-year project, but actually exceeded this goal, with more than 175 studies published. The studies were aimed at addressing the region’s major development challenges. More trees sacrificed for policy documents that will ultimately be shelved or archived.

On January 27, SA-TIED released its special report titled ‘A platform for evidence-based policy formulation: Lessons from SA-TIED’, with Godongwana’s foreword to the report starting quite promisingly: “South Africa’s economic challenges are well documented and reflected in low economic growth, declining levels of productivity, and rising unemployment and inequality. Growing our economy and building the labour force that can be absorbed by a growing economy should be our main focus. Ultimately, this comes down to the concrete action we can take to improve economic growth.” In the very next sentence, the Minister says: “In considering the options available to raise economic growth and lower unemployment, poverty and inequality, policymakers must at all times be informed by research of the highest quality.” Why?

As William Shakespeare advised, we must “defer no time, delays have dangerous ends”. Similarly, Benjamin Franklin said: “You may delay, but time will not, and lost time is never found again.” If you deem this to be criticism, I refer you to Aristotle, who said, “Criticism is something we can avoid easily by saying nothing, doing nothing, and being nothing.” It is time for real action, not more words.

According to SA-TIED Phase 1: “Economic transformation is a complex process that requires well-timed policy interventions across different sectors and areas.” ‘Economic transformation’ refers to “the continuous process of moving labour and other resources from lower- to higher-productivity sectors (structural change or structural transformation) and raising within-sector productivity growth.”

SA-TIED continues: “The complexity of the aims is reflected in the six thematic work streams that have been identified under SA-TIED: 1) enterprise development for job creation and growth; 2) public revenue mobilisation for inclusive development; 3) macroeconomic modelling for policy formulation; 4) turning the tide on inequality; 5) climate change and energy transition as drivers of change; and 6) regional growth for Southern Africa’s prosperity.”

Then: “SA-TIED Phase 2 will continue to work alongside decision-makers to build the evidence base for improved policymaking. The key areas of Phase 2 will include: 1) enterprise development for job creation and growth; 2) public revenue mobilisation for inclusive development; 3) structural transformation, labour markets and inequality dynamics; 4) macro-fiscal analysis and policy modelling; 5) food, energy, and water in a context of climate change, and 6) reform implementation.”

Government needs to take immediate and concrete action. It needs to make structural changes and effect structural transformation of the economy; more words are tantamount to a boxer hanging on desperately, waiting for the towel to be thrown into the ring. As Amit Kalantri elequently states: “A tongue does not get things done”. Nor does a pen, or a keyboard.