Ramaphosa: SA is winning over investors on infrastructure plans | Fin24
  • Load Shedding Schedules

    Find information for Johannesburg, Durban, Cape Town and other cities.

  • Eskom

    Critical repairs being done during 21-day lockdown as demand plummets.

  • Mills Soko

    China's success in addressing the coronavirus crisis speaks to the importance of decisive leadership.


Ramaphosa: SA is winning over investors on infrastructure plans

Feb 20 2020 19:06
Khulekani Magubane, Fin24
Cyril Ramaphosa ahead of the SONA 2020.

President Cyril Ramaphosa during a meet and greet with Ms Sinoyolo Qumba. Ms Qumba is a 17 year old Grade 11 leaner from Gibson Pillay Learning Academy in Lenasia, Johannesburg. She met with the President today to contribute to President's speech which he will deliver during the State of the Nation Address scheduled for 13 February 2020 at a joint sitting in Parliament. The learner made inputs to President's speech on various issues amongst others including free education, safety at educational institutions and employment in the country. [Photo: GCIS]

Related Articles

Thabi Leoka | SONA: More questions than answers

Ramaphosa’s best ideas are borrowed, Malema charges in SONA debate

Ramaphosa 'should have switched off Eskom's life support': No punches pulled at SONA debate

Daniel Silke: A SONA shackled by its own State

SONA 2020: Business bodies welcome certainty on energy but plead for urgency

OPINION: Ramaphosa has shown he understands how to put the energy crisis behind us


President Cyril Ramaphosa told Parliament on Thursday afternoon that investors, including the finance industry, had responded enthusiastically to government's renewed commitment to investing in infrastructure announced in his State of the Nation Address last week.

Ramaphosa was replying to the legislature's debate on his SONA, held in the National Assembly chamber on Tuesday and Wednesday.

During the SONA, Ramaphosa announced pipeline potential investments of over R700 billion over the next 10 years, "including both government and non-government contributions".

Ramaphosa told the sitting that he met with the pension fund industry and the finance sector earlier in the week to work towards developing infrastructure development financing agreements. He said this was done to prioritise the development of infrastructure that South Africans needed.

"Earlier this week, we met with representatives of several finance institutions – both domestic and international – who were enthusiastic about the potential for infrastructure development in South Africa," he said.

Ramaphosa said a huge part of the SONA was addressing the "immediate and pressing task" of inclusive growth that government hoped to achieve for South Africans.

"The substantial infrastructure investment that we announced last week will be a catalyst for economic activity and will make our economy more competitive. But it will also make a direct and immediate contribution to lowering the cost of living and improving the quality of life for millions," said Ramaphosa.

Ramaphosa said Gauteng Economic Development MEC Kgosientso Ramokgopa and Minister of Public Works Patricia de Lille have brought together professionals, including engineers, to rebuild capacity to raise the R700 billion. He said he received a firm commitment to match government's contribution.

"They are committed not only to work with us to develop blended financing options, but also to mobilise the skills we need to prepare and execute infrastructure projects. I agree with Honourable Members who say that we need to be more innovative in our approach to infrastructure through, for example, build, operate and transfer schemes – where we mobilise private capital to meet a public need," Ramaphosa said.

During last week's address, Ramaphosa said the second South Africa Investment Conference in 2019 saw 70 companies make investment commitments of R364 billion in industries like advanced manufacturing, agro-processing, infrastructure, mining, services, tourism and hospitality.



Company Snapshot

Voting Booth

Do you support a reduction in the public sector wage bill?

Previous results · Suggest a vote