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Money might make the world go round, but it also keeps entrepreneurs up at night. It seems as if there is never enough to realize all those big business dreams. But solid planning and a finance team that knows what they’re doing will see financial struggles turn into success. The finance function as a whole …
LG Electronics (LG) has received the Air-Conditioning, Heating & Refrigeration Institute (AHRI) Performance Award for the seventh year in a row. The award underscores the excellence of LG’s heating, ventilation and air conditioning (HVAC) solutions, which continue to set the standard for performance, efficiency and reliability. Founded in 1953, AHRI is a respected international trade …
SevenC, a leading IT infrastructure and network service provider striving to identify and make available the best possible ICT strategies for its clients’ unique needs, explores the unique offerings of specific cloud platforms and how businesses can choose the right one. “Chances are, if you’ve navigated the web or used an app recently, you’ve interacted …
In today’s economic climate, South Africans are increasingly seeking flexible and accessible financial solutions to meet unexpected expenses or to capitalize on immediate opportunities. One such solution that has gained popularity is securing a loan against one’s car. This financial maneuver can be a strategic move for those in need of quick liquidity without the …
In South Africa, where financial flexibility can sometimes mean the difference between seizing an opportunity and missing out, the option to “pawn my car” presents a viable route for securing short-term financing without selling your vehicle. This approach is particularly attractive for those who need immediate cash but wish to retain ownership of their assets. …
In the evolving landscape of financial solutions within South Africa, the option to “pawn my car and still drive it” emerges as an innovative and highly sought-after avenue for those in need of immediate cash without the inconvenience of losing their mobility. This unique form of loan allows individuals to leverage the value of their …
Welcome to a world where your windows and glass doors transcend their mere functionality and become canvases for creativity. At Window Art, we understand the desire to transform spaces into reflections of personal or brand identity. With our expertise in vinyl frosting, we offer a solution that goes beyond mere decoration—it’s a statement. Why Vinyl …
This year’s Integrated Resources Plan is horrifying
In today’s fast-paced world, taking care of yourself is more important than ever. From skincare to grooming essentials, RS Imports offers a wide range of premium personal care products to help you look and feel your best. Let’s explore the collection and discover why RS Imports is your ultimate destination for all things self-care. Quality …
In today’s modern world, electrical products play a crucial role in our daily lives, whether it’s ensuring the safety of our devices or providing convenient solutions for our electronic needs. At RS Imports, you’ll find a diverse range of high-quality electrical products designed to enhance your home and lifestyle. Let’s explore what RS Imports has …
S Africans urged to participate in the upcoming elections
Cooperative Governance and Traditional Affairs Minister, Thembi Nkadimeng, has urged South Africans to vote in the upcoming elections.
“Your vote is not merely a mark on a ballot paper; it is a voice – a voice that speaks volumes, resonating with the hopes, dreams and aspirations of our society.
“It is a symbol of your commitment to the principles of democracy,” she said.
Nkadimeng was addressing a conference on the impact of the upcoming General Elections on intergovernmental relations at the University of the Western Cape.
The National Research Chair organised the Multilevel Government, Law, and Development event at the Dullah Omar Institute.
The conference addresses critical questions regarding governance, particularly concerning the challenges posed when different parties or coalitions govern at various levels of government.
Nkadimeng used her platform to call on South Africans to unite in their diversity and go to their designated voting stations with purpose and conviction.
“Regardless of your political affiliations or beliefs, your vote is a precious right – one that countless individuals have fought and sacrificed for throughout our history.
“It is a privilege denied to many worldwide yet bestowed upon us as South Africans. Let us not take this privilege for granted, but rather cherish it and wield it wisely.”
This as the country is set to go to the polls on 29 May 2024.
Coalitions
Nkadimeng touched on the instability caused by coalitions since the local government elections have underscored that some political parties are struggling to cope with the delicate demands and dilemmas of coalition politics.
She highlighted the complexities involved and emphasised the importance of cooperation and coordination among government spheres, acknowledging the strain caused by conflicting agendas and ideologies.
These include “unscrupulous manipulation” by smaller parties to have governance by a small unrepresentative group of individuals and bribes with little thought on the impact of the same on the municipality and its ability to deliver services.
Another hurdle, she said, is the infighting in councils characterised by walkouts, leading to an inability to adopt budgets, resulting in an administration that cannot spend its budget to address service delivery backlogs.
The Minister spoke of the lack of due diligence when making key appointments, which results in compromised individuals appointed in critical positions.
“Yet, it is precisely during these moments of divergence that the resilience of our intergovernmental relations system is put to the test.
“How do we navigate the waters of political pluralism while upholding the principles of cooperative governance? How do we bridge the divide between divergent political entities to ensure the seamless delivery of services and the pursuit of shared objectives? These are questions that demand thoughtful consideration and innovative solutions.”
She also discussed lessons learned from the 2021 Local Government Elections, emphasising the need for coalition regulation to maintain stability.
Nkadimeng stressed the significance of legal frameworks, institutional mechanisms, and fostering dialogue and collaboration.
She reiterated the constitutional principle of cooperative government and intergovernmental relations, regardless of electoral outcomes, emphasising its importance for effective governance.
Central to the notion of intergovernmental relations, according to Nkadimeng, is the recognition of the interdependence among the three spheres (national, provincial and local) of government.
She explained that each sphere possesses distinct powers, functions, and institutions, yet they are inherently interconnected.
“Therefore, all spheres of government have to respect each other's autonomy while keeping one another informed of new policies and developments.”
Intergovernmental relations extend beyond mere cooperation. However, according to Nkadimeng, they encompass a complex network of interactions involving government institutions and civil society.
Effective coordination of public policies among national, provincial, and local governments is essential for ensuring coherent and impactful governance.
Regardless of the electoral outcomes when the South Africans go to the polls, she said she believes that it is important for all political parties to adhere steadfastly to the principles outlined in the Constitution of the country.
“Upholding the ideals of cooperative government and intergovernmental relations is not contingent upon political affiliation but is a shared responsibility integral to the fabric of our democracy.”
She concluded by outlining measures to maintain resilience in the face of political changes, including promoting continuity, trust, cooperation, and building institutional capacity within the intergovernmental relations framework. – SAnews.gov.za
Gabisile
Wed, 03/20/2024 - 15:07
Ecobank (www.Ecobank.com), the pan-African financial services group, announces the appointment of key senior executives to strengthen the Group's leadership team and to drive delivery of its new Growth, Transformation and Returns (GTR) strategy. Abena Osei-Poku joins as Regional Executive Anglophone West Africa and Managing Director Ecobank Ghana; Martin Miruka as Group Executive for Transformation, Enablement and Customer Experience; Anup Suri as Group Executive, Commercial and Consumer Banking; Michael Larbie as Group Executive, Corporate and Investment Banking; and Thierry Mbimi as Group Executive, Internal Audit & Management Services.
These top-level appointments are strategically important as Ecobank enters its next phase of growth and transformation, aiming to become the bank of choice and a leader in delivering responsive, innovative and affordable financial services' products and solutions for Africa. Ecobank Group has decided to combine the commercial and the consumer businesses, under the leadership of Anup Suri, underscoring its commitment to strengthening these two business units to drive growth. In addition, the establishment of the new role of Transformation, Enablement, and Customer Experience underscores the Group's determination to prioritizing the necessary leadership for the successful execution of its transformation.
Jeremy Awori, Chief Executive Officer, Ecobank Group, said: “These appointments are crucial to the execution of our recently announced five-year Growth, Transformation and Returns strategy. I am delighted that Abena Osei-Poku, Martin Miruka, Anup Suri, Michael Larbi, and Thierry Mbimi are joining our leadership team, each bringing proven, valuable, global and African financial services experience. I have no doubt that they will play pivotal roles in driving Ecobank's future growth and success.”
Abena Osei Poku joined Ecobank in January. She is an accomplished Pan-African business leader with over 25 years of experience in the financial services industry. Her expertise spans Corporate and Investment banking, Business banking and Risk Management across Africa. Her previous roles include Executive Director for Commercial Banking, responsible for Corporate & Business Banking at Barclays Bank Ghana; Co-Regional Head of Coverage, Corporate & Investment Banking at Absa Bank Group, overseeing East and West Africa; and CEO and Managing Director of Absa Bank Ghana. Abena takes over from Daniel Sackey who is retiring from the Bank. We thank Daniel Sackey for his leadership, commitment, and effective service across the continent over the past 27 years at Ecobank.
Martin Miruka, who joined Ecobank in February, brings with him 25 years' experience as C-suite executive, business strategist, serial entrepreneur, and angel investor with strong credentials on pan-African transformation. His previous roles include Group Head of Business Transformation, Customer Experience, and Innovation at Equity Group Holdings, where he successfully led transformation by breaking the Group's strategic and operational silos, aligning technology investments with business strategy, and ultimately delivering a branded Customer Experience across multiple African countries. He was also the Founder/CEO of Atom TDF, Kenya's first indigenous brand strategy and innovation consultancy, and Kava Africa, a fintech/Insurtech based in Nairobi, Kenya.
Anup Suri assumed his new role in March. He brings a wealth of over 30 years of senior leadership experience across various industries and organisations in both developed and emerging markets across Asia, Africa, the Middle East, Europe, the UK, North America and South America. He joins Ecobank Group from HSBC Group where he was Managing Director, Global Head of Retail Sales and Third-Party Distribution. Anup previously held other senior roles at Standard Chartered Group, Standard Chartered Bank and ABN Amro.
Michael Larbie, who assumed his role in March, brings over 25 years of global senior financial services and investment banking experience. He served as CEO of International & Broader Africa at Rand Merchant Bank (RMB), prior to which he held the positions of CEO & Managing Director of RMB Nigeria and Regional Head of West Africa, as well as Head of Coverage & Investment Banking for Africa (excluding South Africa). His experience also includes senior investment banking roles at Merrill Lynch and senior project management roles at American International Group. Michael takes over from Eric Odhiambo, who will retire from Ecobank at the end of April. We thank Eric Odhiambo for his unwavering commitment, invaluable contribution, and dedicated service over the past six and a half years, first as Chief Risk Officer and then as Group Executive of Corporate and Investment Banking.
Thierry Mbimi, who also started in March, has 27 years of extensive industry and consulting experience, with the last 17 years in director-level roles. He brings with him a wealth of global experience in audit and risk management, complemented by a solid background in technology. Thierry was the CEO & Managing Partner for KPMG Central Africa (Audit, Tax, and Advisory), prior to which he held several roles in the organisation, including Partner and Head of West Africa Financial Risk Management, Lead Partner for the Financial Services Sector in Francophone sub-Saharan Africa and Global Services Lead Partner for the African Development Bank.
Distributed by APO Group on behalf of Ecobank Transnational Incorporated.
Media Contact:
Christiane Mbimbe Bossom
Group Communications
Ecobank Transnational Incorporated
Email: groupcorporatecomms@ecobank.com
Tel: +228 22 21 03 03
Web: www.Ecobank.com
About Ecobank Group (or ‘Ecobank Transnational Incorporated' or ‘ETI'):
Ecobank Group is the leading private pan-African banking group with unrivalled African expertise. Present in 35 sub-Saharan African countries, as well as France, the UK, UAE and China, its unique pan-African platform provides a single gateway for payments, cash management, trade and investment. The Group employs over 15,000 people and offers Consumer, Commercial, Corporate and Investment Banking products, services and solutions across multiple channels, including digital, to over 32 million customers. For further information, please visit www.Ecobank.com.
Pretoria, South Africa – As any vehicle owner can attest, unexpected car repairs can be a nuisance and a financial strain. Among the many components that demand attention, the clutch often remains overlooked. However, Moreleta Service Centre, a stalwart in the automotive service industry with over 25 years of experience, is on a mission to …
Audit firm to be investigated by regulator
In today’s digital-first landscape, businesses across diverse sectors from B2B enterprises to healthcare, retail, and e-commerce are ardently seeking technological synergies that not only streamline operations but also carve a path for competitive superiority. Does that sound like a business? How intelligently any chain links together dictates its strength. There isn’t the space for weak …
South African Special Economic Zones (SEZ) are turning to natural gas and renewable energy to secure energy supply while improving operational efficiency. During a panel discussion at the Sustainable Infrastructure Development Symposium of South Africa (SIDSSA) in Cape Town on Tuesday, representatives from various SEZs across the country underscored the role gas and renewables have already begun to play.
Taking place on March 17-19 at the Century City Conference Center, 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 https://SIDSSA.org.za/.
With South Africa currently faced with an energy crisis, ensuring stability of supply has become a rising challenge for businesses across the country. SEZs are not exempt in this regard. According to Bheka Zulu, CEO, Tshwane Automotive SEZ, “This has led us to find innovative solutions…we are currently building a gas plant project – and solar. We still need to find more energy. Partnerships are key, because stakeholders can help us achieve this.”
Similarly, the Richards Bay Industrial Development Zone (RBIDZ) SEZ is also developing gas and renewable energy projects to enhance energy security while reducing reliance on the national electrical grid. Simthembile Mapu, Executive Manager: Business Development and Support at the RBIDZ SEZ, said “We have a gas to power plant and are also constructing a pipeline. We also have a wind farm.”
While renewables stand to support operational efficiency, baseload power provided by South Africa's state utility Eskom remains imperative.
“We are talking about an intervention in renewable energy. Renewable energy is less about the base load. We can never downplay the role Eskom plays to make sure the baseload is taken care of. The issue of the lack of power is a major [challenge]. We need to sort out the issue of power supply in our country to support SEZ,” stated Themba Koza, Acting CEO, COEGA.
Strategically designated areas for targeted economic activities, South Africa's SEZs are to accelerate industrialization in the country. Stieneke Jensma, COO: Industrial Zones Program, Industrial Development Corporation, explained that “Our mandate is to accelerate the development of SEZ. We started a program focusing on energy security, specifically regarding SEZ. The idea is to collaborate and to ensure that what we are delivering promotes industrialization.”
Distributed by APO Group on behalf of Energy Capital & Power.
About SIDSSA 2024:
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.
Design is a powerful tool for change. As part of reshaping the industry’s paradigms, this year’s theme for Decorex Africa, the continent’s leading decor and design showcase, is Designing for Impact. It marks a commitment to thinking beyond traditional boundaries and identifying the sweet spot that lies at the intersection of creativity, commercial viability and …
Trina Solar (https://www.TrinaSolar.com/), a global leader in smart PV and energy storage solutions, proudly announces the commencement of the groundbreaking Springbok project in collaboration with SOLA and WBHO, marking a significant milestone in South Africa's renewable energy landscape. The signing ceremony for this monumental venture took place at Solar & Storage Live Africa, highlighting the importance of strategic partnerships in driving sustainable energy solutions. The Springbok project, located in South Africa's Free State province, is the first and largest privately developed n-type utility-scale project in the country with a capacity of 195MW, standing as a landmark initiative. It is also the first project in South Africa to serve multiple off-takers.
"At Trina Solar, we are proud to contribute to South Africa's renewable energy landscape through the Springbok Project, which will mark a significant milestone in the nation's sustainable journey. Empowering Africa's transition towards renewable energy is fundamental to our mission. Through innovation and technological advancement, we're committed to providing accessible and efficient solar solutions, that propel the continent towards a greener, net-zero future." - Yang Bao, President, Global Sales & Marketing at Trina Solar
This innovative project will harness the power of advanced n-type technology, with Trina Solar supplying a total of 331,200 panels of Vertex N series modules (NEG19RC.20). Leveraging the 210mm product technology platform, these modules excel in power, efficiency, reliability, and levelized cost of energy (LCOE), and have gained recognition among global customers. The Vertex N modules, renowned for their high energy yield, are poised to deliver exceptional performance across diverse settings and weather conditions, setting a new standard for utility-scale photovoltaic projects in South Africa.
"Trina Solar is proud to supply its advanced Vertex N modules for the pioneering Springbok project and thereby delivering substantial value to our customers," commented Zaheer Khan, Regional Director of Southern Africa at Trina Solar. "Our decision to utilize n-type modules emphasizes our dedication to providing high-performance solutions that optimize energy yield, reduce BOS and lower LCOE. We are confident that our modules will deliver unparalleled results, further solidifying South Africa's position as a leader in renewable energy adoption."
WBHO also shared their enthusiasm for the project, highlighting its transformative impact on South Africa's energy landscape."We are thrilled to be part of this groundbreaking initiative," added Derek Wallace, Managing Director of WBHO Construction's Projects Division. "The Springbok project not only demonstrates the potential of renewable energy but also highlights our commitment to fostering sustainable development and driving economic growth in South Africa."
Leveraging on the success of the pioneering 135MW Merak 1 Project, which marked the inception of our partnership with SOLA and WBHO, as well as this groundbreaking 195MW Springbok project, Trina Solar looks forward to continuing such long-term collaboration with both parties to harness the collective expertise and drive further innovation.
As South Africa continues its transition towards renewable energy, Trina Solar remains steadfast in its commitment to supporting the nation's journey towards carbon neutrality. By leveraging cutting-edge technology, Trina Solar is playing a pivotal role in advancing the country's solar industry and contributing to global efforts to combat climate change. With the integrated n-type industrial chain, high-quality products, and excellent service, the company will keep contributing to a net-zero future.
Distributed by APO Group on behalf of Trina Solar.
About Trina Solar:
Founded in 1997, Trina Solar Co Ltd (stock symbol: Trina Solar; stock code: 688599) is engaged mainly in PV products, PV systems and smart energy. PV products include R&D, production and sales of PV modules. PV systems consist of power stations and system products. Smart energy comprises mainly PV power generation and operations and maintenance, smart solutions for energy storage, smart microgrid, and development and sales of multi-energy systems. We are committed to leading the way in smart PV and energy storage solutions and facilitating the transformation of new power systems for a net-zero future.
On June 10, 2020, Trina Solar was listed on the Science and Technology Innovation Board (STAR Market) of the Shanghai Stock Exchange(SSE). It was the first PV and energy storage company to go public on the STAR Market providing PV products and systems, as well as smart energy. For more information, please visit www.TrinaSolar.com.
In today’s complex healthcare landscape, understanding the nuances between various insurance products is crucial for ensuring comprehensive coverage and financial protection. Two key options available to members of medical schemes are Gap Cover and Medical Aid. While they serve distinct purposes, they also complement each other in providing holistic healthcare coverage. Let’s delve into the …
In the UK, individuals ask, ‘How do you look for driving test cancellations?‘ and increasingly turn to automated finder services and apps that monitor the DVSA booking system, providing real-time alerts for available slots and simplifying the process of securing earlier test dates amidst high demand Before booking a cancellation, candidates should assess their readiness …
Whether you’re decluttering, moving, or simply need extra space for your belongings, finding the right storage facility can be a daunting task. Luckily, Johannesburg South, Selby, and Newton offer a range of storage solutions to meet your personal and business needs. In this guide, we’ll explore the benefits of choosing the right storage facility and …
Residents were demanding a lasting and immediate solution to the area’s water crisis
South Africa and Zimbabwe enter landmark water sharing deal
Water and Sanitation Minister Senzo Mchunu and the Zimbabwean Minister of Lands, Agriculture, Fisheries and Rural Development, Dr Anxious Jongwe Masuka, have signed an agreement for the transfer of treated water from Beitbridge Water Treatment Works to Musina.
The agreement is the product of the bilateral agreement of cooperation on water resources management, and the establishment and functioning of the Joint Water Commission established by the two countries in 2015.
The transfer of treated water from Beitbridge Water Treatment Works in Zimbabwe to Musina, Limpopo, is a medium-term solution to address water supply challenges in the area.
The capacity of the Beitbridge Water Treatment Plant is 35 million cubic metres/annum (96 Ml/day) and is currently not fully utilised in Zimbabwe, with only 10% of the capacity used for Beitbridge.
Mchunu has welcomed the signing of the agreement and assured the community of Musina that the transfer of water from Beitbridge will alleviate water supply challenges in the area, as the quantities to be supplied are more than the current demand.
According to the agreement, the two countries will kick-start an implementation plan and oversee the construction of a pipeline and of pump stations to transfer 15 million cubic metres (41 ML/day) of treated water from Zimbabwe to Musina.
The two implementing agents to oversee the construction projects include the South African Development Bank and the Zimbabwe National Water Authority. The project is expected to be completed in 2026.
The treated water to be transferred is expected to comply with South Africa’s water quality standards (SANS 241), set by the South African National Bureau of Standards (SABS), which is informed by World Health Organisation (WHO) guidelines.
Mchunu said in the interim, the Department of Water and Sanitation is working with the Vhembe District Municipality, which is the Water Services Authority for Musina Local Municipality, in addressing challenges with the existing water infrastructure, including rehabilitating the existing but non-functional boreholes, while the project is being implemented.
“We are looking at operationalising the non-functioning boreholes in Musina and we believe that with the transfer of water from Beitbridge Water Treatment Works, the challenges of water supply in Musina will be a thing of the past.
“...We are thankful to the government of Zimbabwe to be able to expedite this water sharing deal, which will change the lives of the people of Musina,” Mchunu said.
Masuka also welcomed the contribution of the government of Zimbabwe to ensure that economic development is sustainable in Musina.
“I am very pleased that this day has come to fruition. It has taken years of negotiation and I thank the technical team for having put their very best for their countries to ensure that we come to this level today,” Masuka said.
The Minister reiterated that Zimbabwe is committed to supplying the maximum 15 million cubic metres of treated water per year to Musina town for the duration of the agreement. He is hopeful that the contribution will alleviate the water challenges in Musina, and also contribute to the economic development of the region.
As part of the two-day programme, Mchunu, accompanied by Deputy Minister Judith Tshabalala, held a meeting with Vhembe District and Musina Local Municipality leadership on Friday to discuss immediate, medium- and long-term solutions to water and sanitation challenges affecting the region.
The leaders later held an imbizo, where they gave an update to the community of Musina on the plans underway to provide them with water, as well as interim measures to alleviate intermittent water provision. – SAnews.gov.za
GabiK
Mon, 03/18/2024 - 09:47
Principal Professional Officer for the City of Cape Town Caley Green announced the launch of the city's 2023 Infrastructure Report at a Masterclass during the Sustainable Infrastructure Development Symposium of South Africa (SIDSSA) on March 17.
Evaluating the city's bulk infrastructure from the past year, the updated report builds on its predecessors by focusing on infrastructure across five sectors, including energy, solid waste, water and sanitation, human settlements and transport. According to Green, “The report provides an update on the bulk infrastructure pipeline of projects assessed in the first report. This new report addresses areas of greatest need and highest demand.”
The Masterclass was led by South Africa's Minister of Public Works and Infrastructure Sihle Zikalala and a panel of experts who called on investors and role-players to support an infrastructure-led economic recovery plan in South Africa.
Taking place on March 17-19 at the Century City Conference Center, 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 https://SIDSSA.org.za/.
During the Masterclass, speakers provided insight into the challenges and opportunities within the country's infrastructure sector. With a focus on infrastructure investment planning, the session explored South Africa's strategy to build state capacity while delivering an aggressive development program and closing the infrastructure investment gap.
“We recognize the importance of this masterclass…” stated Minister Zikalala. “This crucial session marks the beginning of the SIDSSA, which in its third year continues to be a platform to bring together think-tanks like yourselves and critical role-players in the infrastructure investment space.”
The Western Cape government has put a jobs growth and development strategy in place, which is aimed at enabling a R1 trillion economy by 2035. The seven-point plan focuses on short- and medium-term growth based on the need to sustainably enable the economy, drive energy security, ensure access to water and boost resilient investment.
“We must move away from typical thinking around public works within the government space,” stated Director-General for the Western Cape Government Dr. Harry Malila. “We cannot just focus on repairing hospitals and schools; we need to take an economic approach and venture outside of our comfort zone.”
Showcasing South Africa's plan to develop its local content capacity and advance national development goals, local industrialization, skills development, job creation, youth employment and regional economic integration were highlighted as key areas to ensure the implementation of a resilient infrastructure strategy.
“We aim to implement the objectives of the National Skills Development Plan 2030 to increase the number of people that obtain critical or scarce skills needed, and to build the capacity of the construction sector to be economically sustainable and globally competitive,” stated CEO of the Construction Education and Training Authority, Malusi Shezi.
In response to the country's strategy to incentivize infrastructure investment, it was noted during the masterclass that South Africa needs to implement a deliberate effort to mitigate capacity constraints and inefficiency to ensure project completion. This was highlighted as a requisite to attain investor confidence and promote localization and private sector participation in the country's infrastructure sector.
“We have a structural issue in terms of the quantum of infrastructure investment in this country,” stated Development Economist and Senior Lecturer at Stellenbosch University Dr. Nthabiseng Moleko. “We have to shift production towards production sectors. The key priority for that is infrastructure. We have to align investment and enhance the localization of these investments.”
Negligence in infrastructure maintenance has resulted in a lack of confidence in the sector. As such, improved governance, administration and capacity building were highlighted as solutions to addressing infrastructure challenges in South Africa.
“Overall investment has been on a downward trend since 2010 and started picking up in 2022. Despite the overall decline, private sector capital investment continued to grow faster than public sector investment. Yet, much faster growth is needed to expand the economy and reduce unemployment and end poverty,” stated Municipal Infrastructure Support Agency CEO, Mapatane Kgomo.
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. The Masterclass on Sustainable Infrastructure Development is held in collaboration with the National School of Government.
Distributed by APO Group on behalf of Energy Capital & Power.