You are currently viewing our desktop site, do you want to download our app instead?
Moneyweb Android App Moneyweb iOS App Moneyweb Mobile Web App
Join our mailing list to receive top business news every weekday morning.

SA names first projects in R2.3trn infrastructure drive

Not yet clear how the 276 projects that have been earmarked can be invested in.
The projects range from key water supply and irrigation developments to energy, roads, housing and fish farming. Image: Shutterstock

South Africa’s presidency has designated the country’s priority infrastructure projects, paving the way for the beginning of private investment in a R2.3 trillion programme over the next decade.

The Presidential Infrastructure Coordinating Commission Council issued a list of projects ranging from key water supply and irrigation developments to energy, roads, housing and fish-farming plans.

While to date most infrastructure has been funded by the state, the country is now saddled with debt and the coronavirus outbreak has limited the amount of money available for investment.

The government is now seeking funds from development finance institutions, mulitilateral institutions and private pension funds.

The announcement is a first step in getting the drive, announced by President Cyril Ramaphosa last month, going. In total 276 projects have been earmarked for potential investment.

Still, many of the projects have been planned for years and are fraught with problems.

“The gazetting of the list is welcome but seems to lack any detail at all and we still await a policy statement,” said Peter Attard Montalto, head of capital markets research at Intellidex. It’s unclear how they can be invested in, he said.

© 2020 Bloomberg L.P.

Get full access to 's financial insights and support quality journalism.

Only R63 per month or R630 per year. You can cancel at any time.

COMMENTS   1

You must be signed in to comment.

SIGN IN SIGN UP

It is estimated that 20% of government purchase fall foul of corruption. Since the anc came into power and until 2018 it is estimated at the 750,000,000,000.00 has be lost.

In simple terms, if it requires an investment of R500,000.00 per job then SA has lost or failed to create 1,500,000 jobs.

End of comments.

LATEST CURRENCIES  

USD / ZAR
GBP / ZAR
EUR / ZAR

Podcasts

NEWSLETTERS WEB APP SHOP PORTFOLIO TOOL TRENDING CPD HUB

Follow us:

Search Articles:Advanced Search
Click a Company: