President Ramaphosa to address South Africa infrastructure roundtable

6 November 2020

Source: iol.co.za

JOHANNESBURG – President Cyril Ramaphosa was due on Tuesday to address an Infrastructure South Africa project preparation round-table and market place in Johannesburg, his office said.

The forum aligns with one of the priorities Ramaphosa presented last month when he launched an economic reconstruction and recovery plan.

The plan outlines an aggressive infrastructure programme, reforms to increase competitiveness and inclusiveness, relief for vulnerable households and individuals hurt by the Covid-19 pandemic and public investment in employment programmes.

It asserts that South Africa’s economic growth story will rely on massive investment in infrastructure, including in energy, telecommunications, ports and rail.

The Presidency said 25 projects would be introduced to investors for project preparation funding at Tuesday’s round table. These projects have undergone intensive feasibility assessments and transaction advisory support to ensure they are investment ready.

“The project preparation round-table will also further explore … how and why the terms and conditions of project preparation capital deployment are curbing the development of projects in South Africa,” the Presidency said.

“It will further provide a collaborative platform for infrastructure investment practitioners to share operational knowledge and strategic expertise concerning project preparation and development activities.”

The interventions outlined in the economic recovery plan tabled last month are expected to unlock more than R1 trillion (US$61.9 billion) in infrastructure investment.

Under the plan, infrastructure projects will make use of components and products that are locally manufactured, and the list of designated goods will be expanded to ensure that the government purchases more goods and services from South African producers.