DEVAC Infrasfuture opened its doors and hosted an exclusive two-day annual conference & expo on Wednesday, 05 May and Thursday, 06 May 2021 that brought together the public and private sector decision-makers to address challenges facing the African infrastructure sector.
“We want to build infrastructure to support local industries to create opportunities and broaden the floor of financing in the sector. The National Investment target of R238bn per annum is unaffordable to the national fiscus alone. Private sector support and participation are required to achieve the NDP target of 30% Gross Fixed Capital Formation,” said Dr. Kgosientso Ramokgopa, Head of Investment and Infrastructure, Office of the President of South Africa, South Africa.
Assessing the outlook and optimistic way forward of the African Infrastructure Sector in the new normal Covid-19 world was unpacked by Njombo Lekula, Managing Director, PPC Cement South Africa.
“Notwithstanding government’s leadership role in this aspect, the government cannot do it alone. It is time to forge stronger partnerships to resolve funding challenges and other related issues that are delaying the realisation of our economic goals. It is also urgent that we have more agile and pro-growth policies and regulations that will protect our sector from the harmful effects of imports, whilst enabling accelerated growth of SMMEs,” said Lekula.
“Supporting initiatives with regional trading partners can create new markets as Covid-19 has reduced barriers to entry supported by technology. Consumption patterns have changed demand, coupled with slow economic growth to pre-Covid levels provides an advantage of the time to revise and reconstruct development plans differently – inter-Africa competition will prevent us from transforming our local economies into a regional economy, “said Vishaal Lutchman, CEO, SAICE (The South African Institution of Civil Engineering), South Africa.
For more information, contact Chanel Burke