RAKGATE AP­POINTED TO HELM OF IN­FRAS­TRUC­TURE FUND

Daily News - - BR MONEY - Ed­ward West

THE DE­VEL­OP­MENT Bank of SA ( DBSA) has ap­pointed Mo­hale Rakgate as group ex­ec­u­tive: In­fras­truc­ture Fund. The ap­point­ment is ef­fec­tive from Oc­to­ber 1. Rakgate was pre­vi­ously group ex­ec­u­tive: project prepa­ra­tion, the DBSA said in a state­ment yes­ter­day. The ap­point­ment fol­lowed an agree­ment signed in Au­gust be­tween the Na­tional Trea­sury, the De­part­ment of Pub­lic Works and In­fras­truc­ture and the DBSA, which set out the DBSA’S man­date to es­tab­lish and man­age the In­fras­truc­ture Fund. The fund aims to trans­form the state’s ap­proach to the fi­nanc­ing of in­fras­truc­ture projects by re­duc­ing frag­mented spend­ing and mak­ing more ef­fec­tive use of re­sources to im­prove qual­ity and speed up de­liv­ery. Rakgate joined the DBSA in 2007 fol­low­ing a stint at the In­ter­na­tional Fi­nance Cor­po­ra­tion in Washington, where he worked on projects in the de­vel­op­ing world. |

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