City accounts for more than half of the whole country’s infrastructure investment
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Cape Town is poised for a significant infrastructure boom, with the city’s latest annual Infrastructure Report projecting a ten-year project pipeline valued at R120 billion, outshining those of other major metros.
Mayor Geordin Hill-Lewis unveiled the report at the City Council Chambers, highlighting Cape Town’s commitment to future-proofing the city through substantial investments in infrastructure. Over the next three years, Cape Town plans to invest R43 billion in development, surpassing the combined investments of Johannesburg and Durban.
Nedbank’s Capital Expenditure Project Listing for 2023 indicated that Cape Town accounted for 60% of the R100 billion total government infrastructure projects announced last year.
These investments are crucial in accommodating Cape Town’s growing population, which is expected to surpass Johannesburg as South Africa’s most populous city. The infrastructure initiatives are also set to create an estimated 135,000 jobs over the next three years, boosting economic prosperity.
The city is directing 73% of this year’s infrastructure budget towards benefiting lower-income households and informal settlements, reflecting its commitment to equitable development. Key areas of investment include water and sanitation, with 42% of the pipeline allocated to upgrading wastewater works.
Mayor Hill-Lewis emphasized efforts to enhance resilience against climate change, with R55.5 billion dedicated to combating droughts, fires, and flooding. The New Water Programme aims to add 300 million litres of water per day from new sources by 2030.
Moreover, the city plans to release well-located land for affordable housing, with approximately 1500 social housing units planned within a total of 3,300 units.
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