http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 14.70Change: -0.13
R/$ = 10.62Change: -0.08
Au 1292.96 $/ozChange: 9.59
Pt 1412.50 $/ozChange: 9.50
 
 
Note: Search is limited to the most recent 250 articles. Set date range to access earlier articles.
Where? With... When?








Start
 
End
 
 
And must exclude these words...
Close Main Search
Close Main Login
My Profile News Alerts Newsletters Logout Close Main Profile
 
Nelson Mandela 1918 - 2013   Agriculture   Automotive   Chemicals   Competition Policy   Construction   Defence   Economy   Electricity   Energy   Environment   ICT   Metals   Mining   Science & Technology   Services   Trade   Transport & Logistics   Water  
What's On Press Office Suppliers Directory Research Jobs Announcements Contact Us
 
 
 
RSS Feed
Article   Comments   Other News   Research   Magazine  
 
 
Apr 11, 2012

Africa to spend $72bn a year on infrastructure, but shortfall persists

Back
Sun City|Tripartite Free Trade|Africa|South Africa|USD|Transportation|Jacob Zuma
sun-city|tripartite-free-trade|africa|south-africa|usd|transportation|jacob-zuma
© Reuse this



Africa is able to spend about $72-billion a year on infrastructure, but there remains a $480-billion shortfall over the next decade, President Jacob Zuma said on Wednesday.

He told delegates at the International Trade and Investment Conference hosted by the Department of Trade and Industry at Sun City, in the North West, that additional funding was required, particularly in water, power and transportation, and that much scope existed for private participation and investment.

“Should Africa continue to narrow its infrastructure gap, economic growth could be boosted by as much as 2 percentage points a year,” Zuma noted.

He commended initiatives geared towards promoting the African economy, such as the African Union’s (AU’s) Presidential Infrastructure Championship Initiative, a continental committee of eight New Partnership for Africa's Development heads of State and government, to champion high-level infrastructure projects.

The President also pointed out that South Africa chaired the North-South Road and Rail Corridor project that cuts across eight countries in eastern and southern Africa and aims to facilitate trade by upgrading road, rail, power and port facilities, as well as simplifying cross-border regulatory procedures.

“This will enable producers and traders to access regional and international markets more easily,” Zuma said.

The projects had passed the feasibility studies phase and were expected to reach the implementation stage by 2016.

Zuma stated the domestic infrastructure development programme, which he announced in his State of the Nation address, in February, would improve access to basic services, while boosting job creation and the competitiveness of the South African economy.

He also commended the AU’s decision to integrate and to promote intra-African trade, particularly through the Tripartite Free Trade area that unites the Common Market for Eastern and Southern Africa, the Southern African Development Community and the East African Community to create larger regional markets and increase specialisation, competition and manufacturing.

Zuma said the impact of an increased focus on major projects was evident, with International Monetary Fund figures showing that region-wide gross domestic product growth has averaged 5.5% from 2000 to 2010, more than double the rate during the 1980s and 1990s.

However, he pointed out that companies have been slow to enter Africa, with some questioning whether the continent’s rise was merely the result of a short-lived boost by the global commodities boom.

The South African president urged that this perception could be turned around if Africa’s people contributed to establish the continent’s reputation as a primary investment destination.

“We need Africans to stop being pessimistic about their continent, and to be the leading spokespersons and ambassadors.

“I challenge all Africans today, to accept the fact that their continent is changing. They must release themselves from the shackles of self-doubt and celebrate these new developments.”

Further, Zuma pointed out that Africa's demographic composition was bound to fuel long-term growth, as the continent will have the world's largest workforce of 1.2-billion by 2050.

“What is left for the business sector is to grab the opportunity and reap the rewards of this growth, in a manner that promotes inclusive growth and that creates decent work for the African people,” the president said.
 

Edited by: Mariaan Webb
© Reuse this Comment Guidelines
 
 
 
 
 
 
 
 
Other Construction News
Updated 6 hours ago A new business association has been formally launched to link foreign suppliers of equipment to State-owned companies (SoCs) with large and small domestic companies in an effort to improve prospects for higher levels of local content in South Africa’s...
Updated 6 hours ago The Nelson Mandela Bay municipality has upgraded its Department of Human Settlements’ centralised information centre (CIC), introducing a new integrated land planning information system (ILIS) and refurbishing the interior and exterior of the centre, using...
Updated 6 hours ago The KwaZulu-Natal (KZN) Department of Transport on Thursday announced a 77.3 km, R1.2-billion road upgrade that would connect Pongola and eDumbe, in the north western part of the province. The project, of which the first 6.5 km, R65-million, construction phase had...
More
 
 
Latest News
Updated 6 hours ago A new business association has been formally launched to link foreign suppliers of equipment to State-owned companies (SoCs) with large and small domestic companies in an effort to improve prospects for higher levels of local content in South Africa’s...
Updated 6 hours ago The Nelson Mandela Bay municipality has upgraded its Department of Human Settlements’ centralised information centre (CIC), introducing a new integrated land planning information system (ILIS) and refurbishing the interior and exterior of the centre, using...
Updated 6 hours ago The KwaZulu-Natal (KZN) Department of Transport on Thursday announced a 77.3 km, R1.2-billion road upgrade that would connect Pongola and eDumbe, in the north western part of the province. The project, of which the first 6.5 km, R65-million, construction phase had...
More
 
 
Recent Research Reports
Steel 2014: A review of South Africa's steel sector (PDF Report)
Creamer Media’s Steel 2014 report provides an overview of the global steel industry and particularly of South Africa’s steel sector over the past year, including details of production and consumption, as well as the country's primary carbon steel and stainless...
Projects in Progress 2014 - First Edition (PDF Report)
This publication contains insight into progress at the delayed Medupi and Kusile coal-fired projects, in Mpumalanga and Limpopo respectively, as well as at the Ingula pumped-storage scheme, which is under construction on the border between the Free State and...
Automotive 2014: A review of South Africa's automotive sector (PDF Report)
The report provides insight into the business environment, the key participants in the sector, local construction demand, geographic diversification, competition within the sector, corporate activity, skills, safety, environmental considerations and the challenges...
Construction 2014: A review of South Africa's construction sector (PDF Report)
Construction data released during 2013 hints at a halt to the decline in the industry during the last few years, with some commentators averring that the industry could be poised for recovery. However, others have urged caution, noting that the prospects for a...
Electricity 2014: A Review of South Africa's Electricity Sector (PDF Report)
This report provides an overview of the state of electricity generation and transmission in South Africa and examines electricity planning, investment in generation capacity, electricity tariffs, the role of independent power producers and demand-focused initiatives,...
Defence 2013: A review of South Africa's defence industry (PDF Report)
Creamer Media’s 2013 Defence Report examines South Africa’s defence industry, with particular focus on the key players in the sector, the innovations that have come out of the defence sector, local and export demand, South Africa’s controversial...
 
 
 
 
 
This Week's Magazine
Human Settlements Minister Connie September
The Estate Agency Affairs Board (EAAB) and the Department of Human Settlements launched the ‘One Learner – One Estate Agency’ internship programme aimed at creating one internship position at each of the estimated 10 000 estate agencies in South Africa to grow...
The Electronic Systems Laboratory (ESL) of the Department of Electrical and Electronic Engineering at Stellenbosch University is strongly reaffirming its position as one of South Africa’s leading centres for satellite technology and expertise. It is currently...
MORE IN SA Phase 2 should see local content on the mainline locomotive increase from 65% to 80% by the end of 2014
The world’s lowest-cost diesel-electric locomotive is not made in China, but in Pretoria, at RRL Grindrod Locomotives’ newly upgraded 30 000 m2 plant. The company’s locomotive pricing is “more competitive than any other original-equipment manufacturer (OEM)...
The South African Defence Review 2012, released to the public at the end of last month (despite the year given in its title) recommends the creation of the post of Chief Defence Scientist. This official would be responsible for the management of defence technology...
AltX-listed engineering technology company Ansys has been awarded an R188-million contract by Transnet to supply integrated dashboard display systems to the freight rail utility’s locomotives. Black-owned and controlled Ansys developed the bespoke integrated system...
 
 
 
 
 
 
 
 
 
Alert Close
Embed Code Close
content
Research Reports Close
Research Reports are a product of the
Research Channel Africa. Reports can be bought individually or you can gain full access to all reports as part of a Research Channel Africa subscription.
Find Out More Buy Report
 
 
Close
Engineering News
Completely Re-Engineered
Experience it now. Click here
*website to launch in a few weeks