South Africa to Set up Credit Guarantee for Infrastructure in 2026
About 10 billion rand ($569 million) is required to fund the program, of which the government will contribute 2 billion rand in equity, David Masondo said at a conference in Pretoria on Thursday. Authorities are in talks with lenders for the remainder of the funds.
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Forbes
7 minutes ago
- Forbes
The CEO Turnover Surge Is A Wake-Up Call For Infrastructure Leaders
Khaled Naja, CEO of Core Group Partners. A record number of CEOs have exited their posts in the past year, and the implications go far beyond boardrooms and shareholder calls. This isn't a coincidence but a clear signal. And for those of us leading infrastructure organizations, it's a direct challenge: Evolve how you lead or risk becoming part of the next statistic. The headlines paint a sobering picture: rising stakeholder scrutiny, political complexity, economic uncertainty and the unrelenting pressure to deliver transformation on fixed budgets. And the infrastructure sector, often considered stable and slow-moving, is not immune to this churn. In fact, we may be more vulnerable than we think. This turnover doesn't just affect leadership; it ripples through long-term projects and public trust. Infrastructure initiatives span years, even decades, and frequent CEO changes can disrupt momentum, delay critical timelines and raise concerns among government partners and communities alike. For an industry where consistency underpins success, leadership volatility is a real risk to delivering public outcomes. We sit at the intersection of government, capital markets and public trust. While commercial CEOs face market fluctuations, infrastructure executives wrestle with aging systems, public scrutiny and the paradox of being asked to do more with less—and do it much faster. Meanwhile, the American Society of Civil Engineers' 2025 National Infrastructure Report reminds us how much is still at stake: a C average across U.S. infrastructure sectors and an estimated $3.7 trillion funding gap by 2033 if Congress continues current funding levels. Infrastructure leaders don't just manage assets; we manage public outcomes. So why the sudden spike in turnover? For leaders in the infrastructure space, I believe the answer lies in a convergence of forces: • Funding volatility: Shifting federal priorities, tighter municipal budgets and a patchwork of public-private financing are creating unpredictable fiscal environments, where time is of the essence and delays are costly. • Sectoral disruption: Many infrastructure CEOs lead diversified enterprises where each sector faces its own unique pressures and political cycles. • Time compression: New administrations and stakeholders want results fast. The traditional five-year runway to show ROI no longer exists. Many boards and governments expect visible momentum within months. On top of that, infrastructure organizations face a significant talent challenge, including aging workforces, difficulty attracting younger talent and the complexity in sustaining strong leadership pipelines. Infrastructure CEOs must lead culture transformations that build resilient teams ready to innovate and adapt in this evolving landscape. To navigate this moment, infrastructure leaders need a new playbook—one built on clarity, adaptability and team empowerment. Here are five strategic moves that can make the difference between enduring leadership and an early exit: 1. Redefine the role around agility, not tenure. Infrastructure CEOs must lead like entrepreneurs, not caretakers. In today's environment, I believe the ability to catalyze action, pivot decisively and create momentum matters more than riding out a full term. The organizations that thrive will be led by those who drive transformation, not just manage complexity. From my observations, boards are no longer rewarding longevity; they are rewarding the ability to create measurable, near-term progress toward long-range goals. 2. Empower teams with real authority. Transformation cannot be centralized. True leadership now means equipping teams with the autonomy to act, innovate and take calculated risks. This isn't about organization charts but about culture. The infrastructure sector has long rewarded command-and-control models. But today's complexity demands decentralized decision-making and investment in mid-level leadership capacity. 3. Treat outside help as strategic leverage. Boards bring in executive advisors during crises; smart CEOs do it before. Whether it is to challenge stale assumptions, unlock stalled initiatives or explore new models, executive advisors can offer support. If you're working with one, use them as a force multiplier, not a band-aid. 4. Lead with transparency, especially upstream. The most dangerous communication gap is the one between the CEO and the board. Don't wait to be asked. Proactively share challenges, course corrections and strategic pivots. You don't just manage projects, and now more importantly, expectations. 5. Make innovation a leadership discipline, not a department. Innovation can't be relegated to a division or a department, and it shouldn't. Embed it in your decision-making. Ask different questions. Incentivize creativity. Create space for ideas that don't yet have a sponsor. Unlike CEOs in sectors rich in real-time data, infrastructure leaders must actively build their own insight engines to stay competitive. Additionally, infrastructure CEOs must master the increasingly volatile funding landscape. Navigating shifting federal priorities, complex public-private partnerships and global supply chain risks requires proactive engagement across governments, private investors and communities to secure sustainable capital and manage geopolitical uncertainties. This moment isn't just about survival; it's redefining leadership. The CEOs stepping down aren't all failing. Some are fleeing outdated systems. Some are ahead of the curve. But for those of us in infrastructure, where capital meets community, staying in the seat requires more than resilience. It now demands reinvention. We are not just managing projects; we are shaping the communities and economies of tomorrow. Forbes Business Council is the foremost growth and networking organization for business owners and leaders. Do I qualify?
Bloomberg
37 minutes ago
- Bloomberg
Canada's Largest Pension Earns 1% After Weak US Dollar Hit Gains
Canada Pension Plan Investment Board returned 1% last quarter as the weak US dollar largely offset gains in stocks and energy assets. Net assets rose to C$731.7 billion ($530.3 billion) from C$714.4 billion in the fiscal quarter ended June 30, according to a statement Thursday.
WIRED
37 minutes ago
- WIRED
Senators Press Howard Lutnick's Former Investment Firm Over Tariff Conflict of Interest Concerns
Louise Matsakis Zoë Schiffer Aug 14, 2025 9:30 AM Senators Ron Wyden and Elizabeth Warren are demanding answers from Cantor Fitzgerald after WIRED reported that the firm was essentially creating a way for clients to bet on whether Trump's tariffs will be struck down in court. Senator Ron Wyden speaks during a news conference in the US Capitol on rising prices ahead of President Donald Trump's August 1 tariff deadline. Photograph:Last month, WIRED reported that the investment banking arm of Cantor Fitzgerald, a financial services company led by the sons of US commerce secretary Howard Lutnick, was exploring creating a financial product for clients to bet on whether President Donald Trump's signature tariffs would be struck down in court. In response to WIRED's reporting, Democratic senators Ron Wyden and Elizabeth Warren sent a letter to Cantor Fitzgerald chairman Brandon Lutnick on Wednesday demanding more information about the firm's activities. 'Given that one of the purported architects of President Trump's tariff policy is Commerce Secretary Howard Lutnick, your father and the former Chairman and CEO of Cantor Fitzgerald, LP, the firm's actions raise obvious conflict-of-interest and insider dealing concerns,' the lawmakers wrote. 'What is being reported about our business is absolutely false. Cantor is not in the business of positioning any risk, taking views or facilitating business in litigation claims involving the legality of US tariffs,' Erica Chase, a spokesperson for Cantor Fitzgerald, said in an emailed statement. Howard Lutnick ran Cantor Fitzgerald for more than 30 years until he was confirmed by the Senate in February, when he turned over control of the firm to Brandon and his brother Kyle, who are both in their twenties. After joining the Trump administration, Howard Lutnick became one of the most prominent public supporters of the president's tariffs. But according to WIRED's previous reporting, the investment bank that made Lutnick a billionaire was recently letting certain clients wager that Trump's tariffs will eventually be ruled unlawful, at which point companies that have paid the import duties could apply to get their money back. Experts said the proposed deals are a form of litigation finance, an increasingly popular category of investing in which financial firms seek to make money from potential legal settlements. Trump announced in February that the US would put steep tariffs on goods from Mexico and Canada under the International Emergency Economic Powers Act (IEEPA). He widened the trade war in April to include nearly every nation that sells goods to the US, which Trump said would now be subject to "reciprocal' tariffs ranging from 10 to 50 percent. State officials and small businesses responded by filing a flurry of lawsuits against the Trump administration, arguing that the president exceeded his authority under IEEPA and the tariffs should be ruled illegal. The US Court of International Trade sided with the plaintiffs in one of the cases, but the Trump administration quickly appealed the ruling. The appeals court has allowed the tariffs to stay in effect until a final decision is reached. In their letter, Wyden and Warren specifically asked Brandon Lutnick whether anyone at Cantor was in contact with the Trump administration about the tariffs. 'Has anyone at Cantor or Cantor Fitzgerald, LP communicated with any person within the Executive Branch, including President Trump, Secretary Lutnick, any individual employed by the Commerce Department, or any other individuals, about tariffs, refunds or exclusions and the legal cases involving IEEPA?' the letter asks. 'If so, please provide a list of all such conversations, including the date, the individuals involved, and the nature of the conversation.' The senators requested that Brandon Lutnick respond to their questions by August 27.
