Government looking for post Covid-19 infrastructure funding to reboot economy

Government looking at opportunities across the economy to try and entice investors.

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The government is reported to be looking for up to R350 billion in investment for infrastructure projects to kickstart the economy.

The economy was already heading into recession when the Covid-19 crisis hit, the central bank now predicts we’re in for a 7% contraction in growth this year.

The government is holding what it calls pitch sessions to highlight opportunities in the economy.

“The pitch sessions will give project sponsors an audience from national and international funding institutions that include multilateral development banks, development finance institutions, asset managers and commercial banks to present infrastructure projects that have been identified as potentially bankable and those that require project preparation funding,” said a statement from the presidency.

In a presentation to the London based Chatham House think-tank, Paul Mashatile, treasurer-general of the ANC, highlighted sectors that government wants to develop.

These included “network industries such as rail and ports, energy, broadband connectivity, water, sanitation and human settlements.”

The government has said it wants to emulate the approach taken during the 2010 world cup.