South Africa Reveals 2024 Sustainable Infrastructure Plans at SIDSSA Symposium
Government stakeholders shared South Africa’s infrastructure investment milestones and future plans during an exclusive media briefing on Monday
South Africa’s latest infrastructure initiatives and investment opportunities were highlighted by top government officials at the Sustainable Infrastructure Development Symposium South Africa (SIDSSA) held in Cape Town.
Minister of Public Works and Infrastructure, Sihle Zikalala, highlighted the importance of infrastructure investment as a key focus for the sixth administration, aiming to support South Africa’s economic and population growth by initiating new projects like schools, hospitals, and power plants. “Since 2020, we’ve launched 113 major infrastructure projects with an investment of R2.4 trillion,” Zikalala emphasized.
Deputy Minister in the Presidency, Kenneth Morolong, discussed the strides made in attracting infrastructure investments, notably the formation of Infrastructure South Africa (ISA) in 2020 and the introduction of a construction book by President Cyril Ramaphosa, listing infrastructure projects ready for procurement or construction in the 2024/2025 fiscal year. Morolong stressed the significance of these developments for infrastructure progress, mentioning, “The construction book launch is a major milestone, showing our commitment to enhancing infrastructure through both private and public funding.”
The symposium, taking place from March 17-19 at the Century City Conference Center, is a pivotal event for fostering dialogue and partnerships within the infrastructure sector, focusing on spurring economic activity through strategic infrastructure initiatives. Energy Capital & Power, a leading investment platform for the African energy sector, supports SIDSSA as a media partner. Further details can be found at https://SIDSSA.org.za/.
“We have mobilized R25 billion through the National Treasury, which we will use to raise over R70 billion from the private sector to fund infrastructure projects“
Mameetse Masemola, Acting Head of ISA, outlined the agency’s strategies for attracting private sector funding to bridge South Africa’s infrastructure investment gap, including a R600 million allocation from the treasury for high-impact GDP projects. “We aim to close the R5.7 trillion infrastructure gap by 2050, ensuring projects are viable and aligned with the Infrastructure Development Act, prioritizing public-private partnerships,” Masemola stated.
Mohale Rakgate, Head of the South Africa Infrastructure Fund, detailed the mobilization of R25 billion through the National Treasury, aiming to leverage over R70 billion from the private sector for infrastructure projects, focusing on water, human settlement, logistics, and energy sectors.
Siza Sibande, Head of Property Management & Trading Entity at the Department of Public Works and Infrastructure, highlighted the investment’s role in driving job creation, economic growth, empowerment, and a liberalized economy. “We are investing R32 billion to enhance public sector facilities, identifying assets to stimulate growth and job creation, especially through SMEs, in line with the National Development Plan 2030’s goals for economic growth and infrastructure development,” Sibande added.
This enhanced focus and strategic planning in infrastructure development underscore South Africa’s commitment to sustainable growth, economic empowerment, and the proactive bridging of the investment gap, promising a robust future for the nation’s infrastructure landscape.
Distributed by APO Group on behalf of Energy Capital & Power.
