Thokozile Mnguni
South Africa is seeking to position itself as a leading destination for global infrastructure capital, with the government highlighting reforms, new projects and a multi-trillion-rand investment pipeline.
President Cyril Ramaphosa addressed the South Africa Infrastructure Investment Summit in Cape Town today.
The event brought together government, institutional investors and global infrastructure firms, including BlackRock and Global Infrastructure Partners.
Ramaphosa said Africa remains one of the world’s largest untapped infrastructure markets.
He said: “Infrastructure development in Africa presents one of the largest untapped investment opportunities of our time.”
He pointed to rising global competition for capital and said investors are increasingly looking for policy certainty and stable institutions.
He added, “The global investment landscape is rapidly evolving. It has become increasingly competitive, especially for emerging markets vying for capital.”
Ramaphosa said South Africa is working to meet those expectations through reforms and macroeconomic stability.
He said: “We are firmly committed to sustaining a stable macroeconomic framework, understanding that it is essential for faster inclusive growth and job creation.”
The President highlighted renewed investor interest following recent reforms.
He said the country had secured R1.5 trillion in investment commitments since 2018, with a further R890 billion pledged at the latest investment conference.
South Africa has now set a target of R3 trillion in investment over the next five years.
Infrastructure spending over the next three years is expected to exceed $60 billion, or about R1 trillion.
Funds will go into ports, freight rail, roads and energy projects.
Ramaphosa said rail networks are being opened to private participation, while ports are being upgraded through public-private partnerships.
He said: “We are opening the rail network to greater private sector participation and rebuilding operational capacity.”
He also pointed to progress in the energy sector.
He said: “A debilitating energy crisis is largely behind us.”
He added that government is expanding generation capacity and restructuring Eskom into a more competitive electricity system.
The summit also showcased government’s Infrastructure Fund, which has committed about $6 billion in fiscal support to crowd in private investment.
Officials say the aim is to turn investor interest into concrete projects that drive growth, jobs and industrial expansion