Business
#OFMBusinessHour - Infrastructure cash injection welcomed─── 19:03 Tue, 15 Feb 2022
South African businesses have welcomed government’s commitment to funding the Infrastructure Fund with R100 billion over the next ten years.
The Managing Director of Retail Capital, Miguel da Silva, says the country’s ailing infrastructure – specifically at the country’s ports - is in desperate need of a cash injection and this investment will bode well for the economy as a whole and small business in particular.
Speaking of SA’s ports, Justin Chadwick from the Citrus Growers’ Association, delved into the issues at the country’s ports and weighed in on how the alleged corruption at Transnet, outlined in the Commission of Inquiry into State Capture, has impacted the state of ports in the country.
Government plans directing R1.8 billion of this Infrastructure Fund towards bulk infrastructure, which will unlock seven private sector projects to the value of R133 billion.
“Several catalytic projects to the value of R21 billion are expected to start construction this year. Of this, R2.6 billion is contributed by the government, and the balance from the private sector and developmental finance institutions,” said President Cyril Ramaphosa in his State of the Nation address.
