{"id":825826,"date":"2025-05-27T13:56:28","date_gmt":"2025-05-27T11:56:28","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=825826"},"modified":"2025-05-27T13:56:34","modified_gmt":"2025-05-27T11:56:34","slug":"ramaphosa-announces-r240-billion-investment-haul","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/government\/825826\/ramaphosa-announces-r240-billion-investment-haul\/","title":{"rendered":"Ramaphosa announces R240 billion investment haul"},"content":{"rendered":"\n<p>South African President Cyril Ramaphosa said his plan to turn the nation into a construction site and improve its economic performance has attracted a record of more than R238 billion of investment.<\/p>\n\n\n\n<p>The nation\u2019s new construction book for the fiscal year that started 1 April lists around 250 projects across various sectors including energy, roads, and water, he told delegates at an infrastructure summit in Cape Town.<\/p>\n\n\n\n<p>\u201cInfrastructure is the flywheel that our economy needs to boost growth and to create jobs,\u201d he said.<\/p>\n\n\n\n<p>\u201cInfrastructure that is well constructed and maintained encourages investors to see our country as a great investment destination.\u201d\u00a0<\/p>\n\n\n\n<p>Ramaphosa spoke on the eve of the first anniversary of the formation of a 10-party coalition government started by the African National Congress after it lost its parliamentary majority in elections held last May.<\/p>\n\n\n\n<p>The alliance has made infrastructure the cornerstone of its efforts to reignite growth that has averaged less than 1% a year for more than a decade. \u00a0<\/p>\n\n\n\n<p>\u201cWe will turn South Africa around and make it a true construction site, but a beautiful site for all to behold,\u201d Ramaphosa said.<\/p>\n\n\n\n<p>The National Treasury has\u00a0<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-05-21\/highlights-of-south-african-finance-minister-s-reworked-budget\" target=\"_blank\" rel=\"noreferrer noopener\">allocated<\/a>\u00a0R1.03 trillion over the next three years for public infrastructure with the hope of drawing in the private sector.\u00a0<\/p>\n\n\n\n<p>Years of underinvestment and mismanagement have left Africa\u2019s largest economy with a massive infrastructure backlog. <\/p>\n\n\n\n<p>Ramaphosa has previously estimated that the country will need as much as R1.6 trillion in public-sector infrastructure investment and a further R3.2 trillion from the private sector for it to achieve its infrastructure goals by 2030.\u00a0<\/p>\n\n\n\n<p>Still, Deputy Finance Minister Ashor Sarupen told Bloomberg on Monday that attracting private investment has proved challenging because the government\u2019s public-private partnership program is too \u201dconvoluted\u201d and investors continued to be concerned about corruption and governance issues.<\/p>\n\n\n\n<p>\u201cWe\u2019re not getting investment in quickly enough,\u201d he said. \u201cThe infrastructure gap is very big and growing. And if you look at investment to gross domestic product at 15%, it\u2019s just far too low for us to get a sustainable growth rate.\u201d&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>President Cyril Ramaphosa said his plan to turn the nation into a construction site and improve its economic performance has attracted a record of more than R238 billion of investment.<\/p>\n","protected":false},"author":59,"featured_media":704955,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23],"tags":[1293],"class_list":["post-825826","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-government","tag-cyril-ramaphosa"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/825826","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=825826"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/825826\/revisions"}],"predecessor-version":[{"id":825827,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/825826\/revisions\/825827"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/704955"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=825826"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=825826"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=825826"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}