The Gauteng provincial government is anticipating to raise US$ 2.2bn in funding for 31 megacity projects at the upcoming Infrastructure Funding Summit, to be held on 4-5 May at Gallagher Convention Centre in Midrand.
The summit is being held in partnership with the Gauteng Department of Human Settlements and the Gauteng Partnership Fund (GPF), with the GPF to drive the implementation of the projects.
ANC provincial chairperson Mr. Paul Mashatile confirmed the reports and said that the local government is planning to build new and integrated cities and communities throughout Gauteng through various infrastructure building programmes.
“We have realised that, to provide integrated human settlements and infrastructure broadly, we need the expertise and resources of the private sector, which is one of the reasons for hosting the summit,” Mr. Mashatile said.
He added that to fast-track the process, the private sector must come on board and be part of the initiative.
Mashatile pointed out that provincial government has set aside funding for infrastructure projects and that the government will lead by example and put resources on the table.
However, it wanted to encourage the private sector to work with the provincial Department of Economic Development to support small and medium-sized enterprises and to support the growth of township economies.
“We would like the private sector to source material from these economies to support and encourage the formation of small businesses,” Mashatile said.
He also said that the development of megacities must also create job opportunities.
The summit will be the beginning of a capital raising campaign and will embark on a road show to raise funds for these megaprojects and the initial focus will be on the domestic market.
The Summit will highlight infrastructure investment opportunities in the Gauteng City Region and forge new partnerships with key Local and International investors to fast track the delivery of integrated and sustainable Mega Cities.
