The fact that there is limited agreement on the exact nature of Public-Private Partnerships (PPPs) has led to variations in the way the concept has been defined or even understood. This paper looks at the several reasons for the multitude of meanings given to the concept. Also, PPPs have continued to evolve over the years and after four decades of infrastructure PPPs in its present form, there is now an empirical and therefore better understanding of what PPPs are capable of delivering and what is truly beyond the concept. Based on this knowledge, the paper advises on how the concept should shape up in the future.
Keywords: public-private partnerships, PPP, Private Finance Initiative, infrastructure