SA plans $20.5bn infrastructure fund
JOHANNESBURG – South Africa plans to announce a $20.5 billion infrastructure program after talks with the private sector and multilateral lenders as part of its attempt to recover from the coronavirus epidemic.
The program will focus on “network industries such as rail and ports, energy, broadband connectivity, water, sanitation and human settlements,” Paul Mashatile, the treasurer-general of the ruling African National Congress, said in a speech to London’s Chatham House.
“About 1.8 million jobs will be lost during this period, mostly among the youth,” Mashatile said. “This is why we will have to push for massive infrastructure spending within labor-intensive sectors.”
Source: iol.co.za
