President Cyril Ramaphosa has declared infrastructure as “fundamental” to South Africa’s development and a propellant of growth.
The President was delivering the keynote address at the fourth annual Sustainable Infrastructure Development Symposium South Africa (SIDSSA) held at Century City in Cape Town on Tuesday.
The two-day symposium kicked off on Monday and brings together government leaders, infrastructure funding representatives, construction sector representatives and technical experts to discuss and share strategies and best practices for infrastructure development in the country.
READ | SA's infrastructure symposium kicks off
“In many ways, this is a moment that – I believe – is filled with great promise and endless opportunities for infrastructure development in our country. Earlier this year, one industry publication said the country was ready to unleash an infrastructure boom. As we gather at this symposium year after year, it is important for us to understand the important role that is played by infrastructure in the life of a nation, particularly our South African nation.
“This is so because infrastructure is fundamental to the development of our country. It serves as the backbone of economic growth and social progress and contributes to the improvement of the life of our people,” the President said.
He described public infrastructure as the “flywheel that our economy needs to boost growth and to create jobs”.
“Through public infrastructure we are able to build roads, ports, railways and airports to enable what we produce as a nation to move efficiently. Infrastructure development demonstrates stability and great potential to investors. Infrastructure that is well constructed and maintained encourages investors to see our country as a great investment destination.
“Infrastructure projects create jobs not only in construction and maintenance but in a number of related industries as well. Public infrastructure in water supply, electricity, schools and health clinics improves living standards and provides dignity to our people and fosters national unity.
“When we have good infrastructure, we are a nation that is connected by rail, road, telecommunications, electricity, education facilities, good health centres and outstanding entertainment facilities like stadiums,” he explained.
WATCH | President Ramaphosa addresses the SIDSSA
From planning to execution
During the past month, Infrastructure South Africa released the second edition of the Construction Book – which showcases some 250 fully funded infrastructure projects with a value estimated to exceed R238 billion.
This, the President said, is a good show of intent by government to move from concept to implementation.
“By showcasing the types of infrastructure projects being developed, the Construction Book helps the construction sector and supplier industries anticipate demand for local materials, components and services.
“By focusing on projects that are procurement-ready and financially secured, it also reduces uncertainty for contractors, consultants, manufacturers and material suppliers.
“We are showing that we have moved from great ideas on paper to executable plans to implementation,” President Ramaphosa noted.
Reflecting on the R1 trillion earmarked for infrastructure investment by Finance Minister Enoch Godongwana, the President said government will look to partner with the private sector.
“As the state substantially increases its capital investment, we recognise that government does not have the financial resources to undertake this work alone. That is why we are working to mobilise all available capital, both domestic and international, towards this infrastructure boom.
“This requires that our projects have the credibility that is necessary for stakeholders to invest in our projects and so that we can mobilise the trillions of rands in long-term savings managed by the domestic financial sector,” he said.
Reforms will be implemented to “make public-private partnerships easier, faster and more predictable”.
“Some of the reforms we are focusing on will make it easier for public-private partnerships under the value of R2 billion to gain approval.
“This will significantly reduce the procedural complexity of implementing public-private projects. We are implementing the reforms necessary to make it easier for more construction by reducing regulatory duplication and providing investors with long-term certainty,” he revealed.
Developmental agenda
On Monday, the SIDSSA hosted a Leaders Forum with a number of Ministers from across the continent, premiers, MECs and representatives of local government.
The President described the gathering as “vital”.
“The Leaders Forum is a vital platform for…creating space for strategic dialogue, knowledge exchange and policy alignment. This level of collaboration is essential if we are to overcome shared challenges and realise the full potential of the African Continental Free Trade Area.
“As we seek to transform our country and continent and unlock its full potential, we must place infrastructure at the heart of our development agenda. Not only as a tool for economic growth and social development, but as a symbol of our great ambition and our hope for a better future,” President Ramaphosa concluded. – SAnews.gov.za
