FinanceMore Africa NewsNetworksSA plans R350-billion infrastructure fund, including for broadband

May 28, 2020by Adrian Hall0

South Africa plans to announce a US$20.5-billion (about R350-billion) infrastructure programme after talks with the private sector and multilateral lenders, said Paul Mashatile, the treasurer-general of the ANC.

The programme will focus on “network industries such as rail and ports, energy, broadband connectivity, water, sanitation and human settlements”, Mashatile said in a speech to London’s Chatham House.

In total, South Africa may need $100-billion to recover from the coronavirus outbreak, he said.

“Government is already in discussion with international partners such as the International Monetary Fund, the World Bank, the New Development Bank and the African Development Bank to raise $27-billion as part of our immediate response to the pandemic,” Mashatile said.

Ntsakisi Ramunasi, a spokeswoman for the national treasury, said she wasn’t immediately able to comment. — Reported by Antony Sguazzin and Paul Vecchiatto, (c) 2020 Bloomberg LP

Source TechCentral

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