South Africa courts investors with R940 billion Infrastructure drive
Deputy President Paul Mashatile has announced that the government intends to spend more than R940 billion on infrastructure
Image: File
Deputy President Paul Mashatile has announced government plans to spend more than R940 billion on infrastructure over the next three years.
Mashatile announced this on Wednesday during a Roundtable Breakfast Dialogue hosted by MEDEF International in Paris.
According to a statement issued by the Presidency, MEDEF is France’s largest business federation, representing more than 750,000 companies ranging from small and medium-sized enterprises to large multinationals.
The Deputy President arrived in France on Monday as part of a visit that is aimed at "reinforcing South Africa’s historic and warm bilateral relations with France by expanding on existing cooperation projects, as well as identifying new areas of cooperation with a specific focus on trade and investment,'.
"The South African Government has committed to spending more than R940 billion on infrastructure over the next three years. This funding will revitalise our roads and bridges, build dams and waterways, modernise our ports and airports, and power our economy," Mashatile said.
Mashatile added that "investors have an opportunity to collaborate with the South African Government by investing in infrastructure such as ports, rail."
"Moreover, investors have an opportunity to collaborate with the South African Government by investing in infrastructure such as ports, rail, electricity, and manufacturing to improve local value-addition and boost trade under the African Continental Free Trade Area," he said.
His visit to France follows the European Union–South Africa Summit held in Cape Town last month, during which the EU announced an investment package of approximately R90 billion to support key development projects in South Africa.
mthobisi.nozulela@iol.co.za
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