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Ramaphosa hosts infrastructure development symposium to drive growth of South Africa’s economy amid COVID-19 Updated for 2021

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Updated: February 27, 2021

President Cyril Ramaphosa will on 23 June 2020 open the inaugural Sustainable Infrastructure Development Symposium of South Africa (SIDSSA).

The Symposium will be held under the theme “Investing in infrastructure for shared prosperity: now, next and beyond.” It comes at a critical juncture when South Africa charts a course for economic recovery in the post COVID-19 period.

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Government has affirmed that catalytic infrastructure investment can contribute to higher long-term growth, address spatial disparities, transform the economy and create much-needed jobs.

The infrastructure projects earmarked to revive the economy will focus on the network industries of water, transport, energy and digital infrastructure as well as sectors with high job absorption capacity such human settlements, agriculture and agro-processing.

The Symposium is a culmination of a vigorous stakeholder consultative process over the past few weeks to mobilise support and cooperation on the revised Infrastructure Investment Plan. 

The consultative process with stakeholders across the public and private sector, was led by Minister of Public Works and Infrastructure Ms Patricia de Lille and Head of Investment and Infrastructure office in the Presidency Dr Kgosientsho Ramokgopa.

The revised plan focuses on partnerships between the public and private sector for the delivery of sustainable, fit-for-purpose infrastructure.

The SIDSSA projects that will be gazetted after the symposium have been selected from an initial 177 that underwent a rigorous due diligence process.

The priority in the immediate term are those that best support the aims of government, which includes creating jobs, alleviating poverty, growing the economy, and promoting a better-quality life for all citizens.

The selection process culminated in a series of pitch sessions that afforded project sponsors an audience with over 60 national and international funding institutions.

These included multilateral development banks, development-finance institutions, asset managers, and commercial banks.

In addition to facilitating access to the funding that is needed to implement the projects, the SIDSSA process also seeks to overcome regulatory obstacles to infrastructure roll-out by developing a framework for fast-tracking approval processes and facilitating quicker executive decisions in the short term, and in the medium term as well as influencing legislation to support developmental imperatives.

The SIDSSA will be hosted virtually and will attract both a national and International audience.  The speakers at the SIDSSA are all subject knowledge experts and will provide valuable insights on how to implement the Infrastructure Investment Plan successfully. All event updates can be found on www.sidssa.org.za.

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Today News Africahttps://todaynewsafrica.com
Today News Africa is a US-based international news organization focused on US-Africa policy and breaking news. Our goal is to provide truthful and exclusive stories to a diverse audience across North America and the African Continent. Subscribe to our news page at https://todaynewsafrica.com/ and Follow us on Twitter @todaynewsafrica

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