Infrastructure development a key driver of South African economy
Infrastructure development is a key driver of South Africa’s growth prospects, with rail and water infrastructure focal areas.
This is according to Economic Development Minister Ebrahim Patel, who is in Davos for the World Economic Forum (WEF), as part of the South African delegation looking to showcase the country’s attractiveness as an investment destination and trade partner.
“We are putting a lot of money into our infrastructure build programme, it is averaging about R300 billion a year, and has seen us move out of an energy shortage into an energy surplus, but we still have very significant infrastructure investment we have to make, in rail, with the commuter story, freight logistics to move minerals more quickly, and water which is exacerbated by the drought.
“Water infrastructure is a key challenge we are going to have to deal with,” Patel said, with Cape Town and Port Elizabeth among the key urban centres in South Africa facing severe and imminent water shortages”.