South Africa aims to revive the economy via investment in Strategic Integrated Infrastructure Projects

SOUTH AFRICA - Report 28 Jul 2020 by Iraj Abedian

Just over a month ago, on June 23, we wrote a report on the inaugural Sustainable Infrastructure Development Symposium of South Africa (SIDSSA) – another instrument in President Cyril Ramaphosa’s drive aimed at boosting South Africa’s infrastructure investment and its economy. What had emerged during the stakeholder consultation prior to the SIDSSA was the need for a credible pipeline of infrastructure projects that are both ready and bankable for investment and implementation. A message that has been clear around the investment drive has been that, despite the need, government does not have the necessary funds to finance the envisioned projects. As such, it has invited various funding organizations, including development finance institutions, multilateral banks, commercial banks and asset managers, to participate in the financing of the infrastructure.

Yesterday Minister of Public Works and Infrastructure Patricia de Lille, together with Head of Investment and Infrastructure in the Presidency, Dr Kgosientsho Ramokgopa, announced that South Africa’s Strategic Integrated Projects (SIPs) had been gazetted (on July 24, 2020). The projects are part of government’s revised National Infrastructure Plan, and also fulfill the investment drive’s aim of identifying investment-ready projects whose financing will be sourced outside government.

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