Mayor’s R2 billion coup
TSHWANE REVAMP: MSIMANGA SAYS PLAN IS ON TRACK
City is R2.3bn richer after investors back plan to develop infrastructure.
Promising to raise R10 billion in investments at his inaugural state of the capital address this year, Tshwane mayor Solly Msimanga was R2 billion into keeping his word after securing investment funds to improve infrastructure.
Msimanga revealed this at the Southern African-Netherlands Chamber of Commerce Ambassadors’ Luncheon in Centurion yesterday, saying the investment from the manufacturing and property sectors would assist in creating jobs.
“I made a proclamation that for this financial year, the city is looking to attract R10.8 billion in investment. I am happy to share with you that to date, we have managed to achieve our strategic investment projects facilitated target of R2.298 billion for the period September 2016 to June 2017. I also indicated that this DA-led multiparty government wants to create job opportunities for our people and not stifle economic growth and inclusion in our economy.” A R663.3 million budget was allocated to the department of economic development and spatial planning, while provision was made to develop the infrastructure in Rosslyn, Ekangala and Waltloo to strengthen industrial parks.
Msimanga said the development of infrastructure would contribute to the Expanded Public Works Programme by creating 23 000 new jobs. A total of R122 million would be contributed for the current financial year.
He announced the development of the Investment Policy 2018 to 2022 to focus on investment promotion and facilitation.
“Linked to this policy is the recently launched online investors’ portal. Through the implementation of phase one, potential investors will be able to complete and submit general investment inquiries, load investment proposals and submit investment applications electronically via the e-Tshwane portal.”
Regarding renewable energy, the city was at various stages of developing solar installations at its offices, he said.
“We anticipate more and more smaller consumers following this trend. As the price of [solar panels] goes down, people are doing the calculations and are realising that it is more cost-effective over time to make this initial investment than to buy electricity.”
We have managed to achieve investment target.