SA seeks funds for SOEs in Gulf

Summit aims to unlock long-term partnerships to fund energy, water and transport development by 2030

- Aarti Bhana

South Africa's cash strapped state-owned companies, including Transnet, Rand Water and the South African National Roads Agency will meet investors in Dubai next week to discuss opportunities for Gulf states to put money into local infrastructure.

The government has set an ambitious goal, under the National Development Plan, to raise infrastructure investment from less than 20% of GDP to at least 30% by 2030.

This translates to more than R4.8 trillion in spending during this decade, which would require a substantial private capital, Standard Bank, the convener of the annual summit said.

This year's theme is “Unlocking Infrastructure Capital for Africa — Resilience through Reforms”.

“At least R3.2 trillion of this infrastructure investment will need to come from domestic and foreign investment partnerships,” Standard Bank said.