MEC and mayor call for innovative infrastructure financing
SANDTON - Gauteng MEC of Finance Barbara Creecy and Executive Mayor of Johannesburg Mpho Tau gave opening speeches at the three-day international financial conference at the Sandton Convention Centre on 28 January.
Creecy said the public and the private sectors could play an important role in financing infrastructure investment. “The National Development Plan emphasises government’s willingness to take the lead in prioritising infrastructure investment, with the aim of crowding in private sector investment over time,” she explained.
Creecy added that she was excited to be attending the conference which aims to address matters of great importance especially during the tight economic times facing governments across the country and the continent.
Tau said the declining availability of state funds and the flow of money to local government infrastructure projects was steadily diminishing. “As limited financial resources may detrimentally affect the rate of infrastructural development, municipalities are obliged to explore innovative ways to fund capital projects,” he explained.
However, Tau is optimistic that the three-day conference will come up with innovative financing mechanisms for infrastructure development and establish new ideas on how financing can be levered to accelerate infrastructure development.
Creecy said infrastructure was not just essential for faster economic growth and higher employment. “It also promotes inclusive growth, providing citizens with the means to improve their own lives and boost their incomes. Infrastructure is essential for development,” she said.
She believes that one of the ways South Africa would be able to stretch its rand would be through better planning and co-ordination between different spheres of government, and on infrastructure priorities and spending.
Details: nkosanal@joburg.org.za or nondyebom@joburg.org.za.
