Paul Mashatile, the deputy president of South Africa, declared that the nation is presently building infrastructure projects valued at R233 billion, of which R170 billion are in the procurement stage and R10 billion have been finished. In his remarks at the Sustainable Infrastructure Development Symposium of South Africa (SIDSSA) Stakeholder Dinner on March 18, Deputy President Mashatile emphasized the substantial prospects available to the private sector in the infrastructure domain.
Getting private capital involved in infrastructure projects has become a major focus as the government works to reduce the investment deficit. The Deputy President emphasized that the government can link private investors to important projects through platforms like SIDSA, guaranteeing that development results in the creation of jobs, industrialization, and long-term economic prosperity.
As demonstrated by the media briefing, partnerships, collaboration, and the memorandum of understanding inked by government and private sector partners, the symposium’s activities have established the standard for government accountability. Deputy President Mashatile said, “Most importantly, this symposium sets the tone for collaboration and cooperation throughout the continent.”
SIDSSA, which is being held at the Century City Conference Center on March 17–19, aims to promote infrastructure development by bringing together important players from South Africa and other parts of the continent. With an emphasis on boosting economic activity through strategic infrastructure plans, SIDSSA 2024 provides an essential forum for collaborations and conversations in the infrastructure investment landscape.
SIDSSA 2024 brings together important actors in the infrastructure investment area, united by the same objective of expediting an infrastructure-led economic recovery plan. These players include regional government, international partners, and private investors. The occasion acts as a launchpad for cooperation throughout Africa.
“We have gathered here from all over the world to learn from each other on what we can do better to unleash a continental wide infrastructure development,” stated Sihle Zikalala, South Africa’s Minister of Public Works and Infrastructure. We think that we should set the example for connecting Africa, as we have frequently stated that it must connect from Cape to Cairo.
Both in South Africa and throughout the region, large amounts of finance are needed to support infrastructure development. Organizations like the Development Bank of Southern Africa (DBSA) provide the funding required to launch major projects.
The project pipeline “was also dependent on institutions like the DBSA who were expected to provide and unveil the pipeline to the potential investors,” stated Zodwa Mbele, Group Executive and Chief Financial Officer at the DBSA. We also know that infrastructure is a [catalyst] for economic development, so it’s critical that we launch [projects] and ensure that the infrastructure is developed.
As such, public-private cooperation will play a major role in the development of South Africa’s infrastructure. In his speech, UK Trade Commissioner for Africa John Humphrey stated that “the UK approach to infrastructure globally is centered on partnership and collaboration, which is why we are here today to support the National Infrastructure Plan of the South African government and the priorities outlined in President Ramaphosa’s recent address to the nation, including job creation, economic growth, solving the energy crisis, and improving public services.”
“Getting construction projects off the ground to build social and economic infrastructure is fundamental in building the Africa we want, improving services and creating jobs,” stressed Bernice Swarts, South Africa’s Deputy Minister of Public Works and Infrastructure, as she concluded the evening.
The Association of African Exhibition Organizers and the Investment and Infrastructure Office under the Presidency are working together to stage SIDSSA 2024. Official sponsor of the event is the Development Bank of Southern Africa; association partner, National African Federation for the Building Industry, also joins. The National School of Government and the Masterclass on Sustainable Infrastructure Development are partners in this program.
