Ramaphosa launches ambitious infrastructure initiative to spur job creation

IOL News

7 days ago

Following his recent visit to Washington, President Cyril Ramaphosa has committed the country to an ambitious infrastructure plan to tun the country's economy around.
Image: AFP
South Africa is set to benefit from an ambitious R1 trillion infrastructure development initiative aimed at turning the country into a construction site while creating much-needed jobs for the ailing economy.
This was revealed by President Cyril Ramaphosa on Tuesday while delivering his keynote address at the Sustainable Infrastructure Development Symposium.
"South Africa is set to benefit from R1 trillion infrastructure development programme. This is the first time that the country has taken advantage of this which is something that needs to be applauded," Ramaphosa said.
During his address to delegates gathered in Cape Town, Ramaphosa said his administration has committed the country to a transformative infrastructure development programme aimed at setting the country's agenda for economic development. Ramaphosa said only an ambitious infrastructure problem will lead to the desired outcomes as the country seeks to turn itself into a construction site.
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"Coordinating an ambitious infrastructure build programme is the only way South Africa will transform its economy. As we seek to transform our country and commit to unlock its full potential, we must place infrastructure at the heart of our development agenda. When we align our efforts, we unlock our efforts, we unlock economies of scale and attract investment. Coordinating thus ambitious effort is not only a necessity but it is also a transformative native opportunity.
Ramaphosa also spoke on the recent trip to Washington following the recent directive by the Minister of Communications and Digital Technologies, Solly Malatsi who is being accused of attempting to suspend the country's BBBEE policies in order to benefit Starlink, a company linked to Elon Musk.
Speaking to members of the media on the sidelines of the two-day symposium, Ramaphosa said that low orbit satellite platform is not only driven by Starlink as there are other players locally and internationally, who are interested to participate in the space.
"The promise of a low orbit satellite service and internet connectivity is not new. There are other private companies, even the Chinese and Russian companies including local companies who are interested in tapping into this space. People only focus on one company when there is a plethora of other companies wanting to participate and enter the space. What needs to be done in that space is something that still needs to be properly crafted which is a process that the minister will be able to do through public comments and engagements, "he said.