South African President Cyril Ramaphosa called for private-led investment in infrastructure development at the 2024 edition of the Sustainable Infrastructure Development Symposium of South Africa (SIDSSA) on in Cape Town on Tuesday.
“It is estimated that to achieve our infrastructure goals, we need almost R4.8 trillion to address the challenges we face as a country. We need that from both the public sector and the private sector – from a much larger extent,” stated President Ramaphosa.
Taking place on March 17-19 at the Century City Conference Middle, SIDSSA brings together key stakeholders in South Africa and across the continent with the aim of driving infrastructure development. SIDSSA 2024 serves as a crucial platform for discussions and partnerships in the infrastructure investment landscape, with a focus on accelerating economic activity through strategic infrastructure plans. Energy Capital & Power – the leading investment platform for the African energy sector – is a media partner for this important platform. For more information, visit www.SIDSSA.org.za.
The South African government has been working to streamline its infrastructure sector and attract investment in strategic projects. Regulatory reforms, according to President Ramaphosa, include “the amendment within our own realm of the Division of Revenue Act, to enable provincial government to use their provincial grants to crowd in the private sector to finance large-scale infrastructure, and to open up opportunities for the private sector to work alongside government to create revenue generating projects.”
These reforms, as well as SIDSSA, “enables us to close the infrastructure investment gap in our country,” stated President Ramaphosa. “This is a valuable platform to enable us to have an introspective look at the opportunities that we have.”
SIDSSA 2024 is hosted by South Africa‘s Minister of Public Works and Infrastructure Sihle Zikalala, who said, “We will use this platform to outline the progress of the country since the SIDSSA in 2020. As we convene, we must emerge with tangible actions to finance infrastructure as a critical corridor to Africa’s development. Infrastructure should be a flywheel of our country’s economic recovery.”
Platforms such as SIDSSA – in tandem with the establishment of Infrastructure South Africa in 2020 – have been pivotal for uniting the public and private sectors, driving investment in strategic projects. According to Zikalala, “we have been able to unlock more than 195 licenses, permits and approvals within 47 projects alone. South Africa established the Infrastructure Fund to unlock more private investment in the infrastructure pipeline using a variety of blended financing tools. So far, 13 mega blended finance projects or programs have been approved to date.”
This year’s SIDSSA draws insight into the progress made to transform the economy through infrastructure development. According to Tertuis Simmers, Provincial Minister of Infrastructure in the Western Cape, “The Western Cape stands as Africa’s premier digital hub, and Cape Town is swiftly solidifying its position as the cloud computing hub of South Africa. Our province has ambitious vision…Central to this strategy is our commitment to infrastructure development: the bedrock of our provinces’ economic advancement.”
SIDSSA 2024 is organized by the Investment and Infrastructure Office under the Presidency, in collaboration with the Association of African Exhibition Organizers. The National African Federation for the Building Industry joins as an association partner, while the Development Bank of Southern Africa is the official sponsor of the event.
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