SA under pressure to invest trillions in infrastructure development
This article of the Timeslive outlines the challenges South Africa face. This Challenge brings ample opportunity to develop sustainable business and also to improve and develop our beautiful country.
South Africa needs to invest $464 billion (R6 trillion) by 2040 in the water and electricity sectors to plug its infrastructure investment gap and address economic and population growth between now and 2040.
This was revealed in a G20 Global Infrastructure Hub (GI Hub) report‚ covering infrastructure investment needs globally and individually for 50 countries and seven sectors.
This means that the country has to fast-track its efforts to create a conducive environment to attract investment‚ otherwise it will not be able to meet its United Nations Sustainable Development Goals (SDGs).
Between now and 2040‚ the country’s Gross Domestic Product is predicted to increase by 40% as its population increases by only 16%.
According to the Global Infrastructure Outlook report‚ the cost of providing infrastructure to support world economic growth would be $97 trillion.