CAPE TOWN, South Africa, March 19, 2024/ -- Nearly $5.7 trillion is required to close the infrastructure investment gap in South Africa by 2050, according to statements made by Mameetse Masemola, Acting Head of Infrastructure South Africa (ISA), during the Sustainable Infrastructure Development Symposium South Africa (SIDSSA) on Monday.

During a media briefing, Masemola provided an update on projects led by ISA since its enactment in 2020, as well as highlighted efforts being made by the government agency to foster public-private sector cooperation and accelerate infrastructure development.

Taking place on March 17-19 at the Century City Conference Center, SIDSSA brings together key stakeholders in South Africa and across the continent with the aim of driving infrastructure development. SIDSSA 2024 serves as a crucial platform for discussions and partnerships in the infrastructure investment landscape, with a focus on accelerating economic activity through strategic infrastructure plans. Energy Capital & Power – the leading investment platform for the African energy sector – is a media partner for this important platform. For more information, visit www.SIDSSA.org.za.

"Our mandate is to close the infrastructure investment gap... We ensure projects are viable and bankable to attract funding from global investors. We work closely with authorizing departments to ensure fast rollout of projects, while ensuring the projects meet local regulations," said Masemola.

ISA has led projects across ICT, energy, water and sanitation, transport and human settlement sectors, which have seen substantial growth in recent years.

"These are the sectors that support economic growth and enable South Africa to be competitive globally. Most of the projects were in their early stages in 2020. The value was R230 billion and the value has grown to over R500 billion," stated Masemola.

In the energy sector, 95% of projects deployed have been private sector-led, including renewable energy projects developed under South Africa's Renewable Independent Power Producer Program (REIPPP), Embedded Generation Program and Just Energy Transition Program. Of the energy sector projects, 25 are under construction under Bid Window 5 of REIPPP, with five having reached financial close and a total of 14,000 jobs expected to be created, added Masemola.

In the transport sector, 15 projects have been announced, of which six represent a total value of R25 billion and are currently under development. Masemola stated that ISA has seen success when it comes to the human settlement sector, with over 9,000 units constructed and 38,000 jobs created since 2020.

Commenting on ISA's current and future project pipeline, Masemola stated that the agency has secured R600 million from South Africa's treasury to invest in projects over the next three years, with 31 projects currently being prepared.