Infrastructure investment spending in South Africa had increased and was being taken seriously as Africa was receiving a growing share of foreign direct investment, President Jacob Zuma said on Thursday.
“These positive trends come on the back of improved governance and a much sounder approach to macroeconomic management in our continent. We need to sustain these trends and deepen them,” Zuma said in a statement.
“With solid and efficient infrastructure, Africa can without doubt reach the much sought after and almost magical seven percent growth rate per annum — a good starting point for Africa. Infrastructure is the way to go towards sustainable development. Africa is on the right track.”
Zuma said it was not surprising that infrastructure development had taken centre stage at the World Economic Forum on Africa that met in Cape Town from June 3 to 5.
He said regional integration was the key and infrastructure development was a catalyst for economic development on the continent. The Presidency said Zuma was looking forward to a “fruitful discussion” of the progress made in implementing the African infrastructure development programme during the meeting of the 33rd New Partnership for Africa’s Development (NEPAD) Heads of State and Government Orientation Committee (HSGOC), on Saturday.
Zuma said that infrastructure development was taken seriously in South Africa and work in all provinces and municipal metros was coordinated through the Presidential Infrastructure Coordinating Commission (PICC) led by him.
“We are refurbishing and building new schools, clinics and hospitals, we are building three universities and 12 training and vocational education colleges, we are constructing and improving rail, roads, ports, broadband, roads, dams and power stations. What we are doing in the country dovetails with the continental infrastructure programme.”
Zuma said it was important to also invest in national infrastructure, in addition to regional infrastructure and that all the projects should unlock the economic potential of the continent and provide development opportunities for communities, cities and regions.
