Rail and electricity capacity are key sectors earmarked for infrastructure development by government‚ Finance Minister Malusi Gigaba said on Thursday.
Gigaba told TimesLIVE that southern Africa lost about 2% of annual GDP growth due to a lack of infrastructure capacity‚ and that investment in these key areas would benefit business and allow for greater economic growth.
“We need to continue improving our rail capacity and reduce the tariff and administrative costs for electricity‚ ports and rail‚ so that we can ensure greater uptake by business‚ including small enterprises and emerging black businesses‚” Gigaba said.
He was speaking at the first African Round Table on Infrastructure Governance in Cape Town‚ where over 100 delegates from across the continent and other key global institutions‚ such as the World Bank‚ met to discuss infrastructure development on the continent.