{"id":72907,"date":"2024-08-24T18:00:00","date_gmt":"2024-08-24T18:00:00","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/all-news\/cape-town-spends-r9-4bn-on-infrastructure"},"modified":"2024-08-24T18:00:00","modified_gmt":"2024-08-24T18:00:00","slug":"cape-town-spends-r9-4bn-on-infrastructure","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/cape-town-spends-r9-4bn-on-infrastructure","title":{"rendered":"Cape Town spends R9.4bn on infrastructure"},"content":{"rendered":"

Africa-Press – South-Africa. <\/strong><\/span>Cape Town has invested R9.4bn in infrastructure during the 2023\/2024 financial year. Mayor Geordin Hill-Lewis revealed this during his city council address this week.<\/p>\n

On Thursday Hill-Lewis said the city had set a \u201cSouth African record for the largest single-year infrastructure investment\u201d. He said this was based on verified data for the 2023\/24 financial year ending June 30.<\/p>\n

\u201cIn total, a full 94% of the city\u2019s infrastructure budget was spent or contractually committed for 2023\/24,\u201d said Hill-Lewis.<\/p>\n

He said the city\u2019s energy directorate was the top performer in the \u201cBillion Club\u201d of directorates with infrastructure budgets of more than R1bn. The energy directorate spent R1.1bn \u2014 94.25% of its overall budget.<\/p>\n

\u201cThe two other directorates in this category also performed impressively, with water and sanitation spending R3.3bn (93% of budget spent or committed), and urban mobility spending R1.bn (92% spent or committed),\u201d he said.<\/p>\n

Other top performers included:<\/p>\n

safety and security, which spent 99.2% of its R444m budget;<\/p>\n

human settlements, which spent 98% of its R960m; and<\/p>\n

corporate services, which spent 96% of its R655m.<\/p>\n

\u201cThis is not only a City of Cape Town record but also a South African record infrastructure investment. To achieve these numbers in a responsible manner requires an extraordinary effort right across the entire Team Cape Town \u2014 and we are just getting started,\u201d Hill-Lewis said.<\/p>\n

\u201cAt a combined R39.5bn for the next three years, our infrastructure budget is 80% bigger than the next biggest city \u2014 Johannesburg \u2014 and almost 100% bigger than the third biggest, Durban. The vast bulk of this spend \u2014 a full 75% \u2014 is earmarked for projects that will directly benefit our metro\u2019s lower-income households.<\/p>\n

\u201cAnd while the obvious benefit will be the improved sanitation, better water security, better energy security, expanded public transport, thousands more affordable housing opportunities, safer communities and cleaner public places and waterways, there is also an important job benefit to this investment. We estimate that just the construction industry jobs alone resulting from this three-year R39.5bn infrastructure spend will be in the region of 130,000. That\u2019s a huge employment boost for our city.\u201d<\/p>\n

Hill-Lewis called on the National Treasury to increase Cape Town\u2019s conditional grant and equitable share funding in line with the city\u2019s growing population.<\/p>\n

\u201cThe city estimates that for every additional R100m in national funding received, a further R800m can be leveraged in infrastructure loan financing where needed, given the city\u2019s strong financial position and improved credit rating.<\/p>\n

\u201cThe census clearly shows major growth in Cape Town, which is set to become South Africa’s largest city. We continue to engage in correspondence with National Treasury, expressing the urgency of bringing our allocation of grants \u2014 particularly housing grants \u2014 as well as our equitable share in line with the latest census data.\u201d<\/p>\n

TimesLIVE<\/b><\/p>\n

For More News And Analysis About South-Africa<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – South-Africa. Cape Town has invested R9.4bn in infrastructure during the 2023\/2024 financial year. Mayor Geordin Hill-Lewis revealed this during his city council address this week. On Thursday Hill-Lewis said the city had set a \u201cSouth African record for the largest single-year infrastructure investment\u201d. He said this was based on verified data for the […]<\/p>\n","protected":false},"author":84,"featured_media":72906,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,12],"tags":[274,315,275],"class_list":["post-72907","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-policy","tag-africa-press","tag-africa-press-south-africa","tag-south-africa-2"],"yoast_head":"\nCape Town spends R9.4bn on infrastructure - South Africa<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/cape-town-spends-r9-4bn-on-infrastructure\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cape Town spends R9.4bn on infrastructure\" \/>\n<meta property=\"og:description\" content=\"Africa-Press – South-Africa. Cape Town has invested R9.4bn in infrastructure during the 2023\/2024 financial year. Mayor Geordin Hill-Lewis revealed this during his city council address this week. On Thursday Hill-Lewis said the city had set a \u201cSouth African record for the largest single-year infrastructure investment\u201d. 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