Infrastructure investment crucial for economic growth

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Infrastructure investment crucial for economic growth

President Cyril Ramaphosa has emphasized the pivotal role of infrastructure investment in
driving South Africa’s economic growth. Addressing the Sustainable Infrastructure
Development Symposium in Cape Town, Ramaphosa underscored the need for public-
private partnerships to explore investment opportunities in infrastructure development.

The symposium, hosted by the Department of Public Works and Infrastructure, aims to
shape conversations surrounding regulatory reforms and innovative funding models for
infrastructure projects.

Ramaphosa revealed that projects worth nearly R170 billion are currently underway,
highlighting the growing momentum of blended finance projects that leverage private sector
financing. “In this calendar year, eleven such projects, with a total investment value of R45
billion, are expected to reach financial close,” he stated.

The president informed delegates that there has been a concerted effort to streamline the
processes for obtaining government authorizations, permits, licenses, and exemptions,
which often hinder infrastructure development. “To date, Infrastructure South Africa has
unblocked a total of R25 billion worth of projects in the renewable energy space using the
Infrastructure Development Act to fast-track government authorizations,” Ramaphosa said.

Acknowledging the strategic importance of the energy sector, Ramaphosa highlighted the
substantial project pipeline comprising more than 100 projects amounting to R240 billion,
covering transmission, gas, renewables, and green hydrogen initiatives.

The president’s remarks underscore the government’s recognition of the critical role
infrastructure plays in catalyzing economic growth and attracting investment, as well as the
need for collaborative efforts between the public and private sectors to address infrastructure
gaps and bottlenecks.