Gauteng revs economy via investment
Infrastructure development brings in investment, jobs and training opportunities
The Gauteng provincial government’s infrastructure programme is stimulating private-sector investment and contributing to growth.
The provincial government, together with the private sector, have invested more than R40-billion in building and maintaining infrastructure such as constructing and upgrading schools, recreational facilities, hospitals, houses, roads and public transport, broadband networks and township industrial parks, according to premier David Makhura.
The multibillion-rand investment by private companies in the development of public infrastructure demonstrates confidence in Gauteng’s economy.
There are major projects spearheaded by the provincial government, working closely with the private sector and municipalities. The aim of these projects is to radically change the landscape and stimulate growth of the Gauteng city region.
The Waterfall Estate development is an infrastructure investment by a local consortium on land owned by the Mia Family Foundation.
The development is one of the largest property projects in South Africa’s recent history, offering between 8 000 and 10 000 residential units, which will eventually house an estimated 35 000 to 40 000 people. It includes commercial and office space that will accommodate a further 60 000 people, with the continent’s largest shopping complex, the Mall of Africa.
Willie Vos, CEO of the Waterfall Management and Operating Company, has thanked the provincial government for supporting the Waterfall City development in Midrand. As a strong expression of confidence in the infrastructural investment made by the province, the Waterfall Estate development decided to pump millions into building a public road network, which is usually a competence of government.
The Steyn City development is another example of how the private sector was prepared to invest its own money to create and develop public infrastructure.
Steyn City is situated north of Fourways, between Dainfern and Diepsloot. It is the brainchild of billionaire and insurance entrepreneur Douw Steyn. It features both residential and commercial properties.
The land was once home to the Zevenfontein informal settlement. About 20 000 citizens of Zevenfontein were relocated to the nearby Cosmo City and Diepsloot. The facilities at the estate include a world-class equestrian centre, a school, a championship golf course, a mountain-bike trail, outdoor gyms and hectares of landscaped parklands.
One of the unique joint ventures between the provincial government and Steyn City developers is the road infrastructure projects that include William Nicol and Cedar Road. The estimated value of the projects is close to R1-billion.
The project involves the upgrading of William Nicol Road (K46) from Uranium Road to the N14 into a dual-carriage highway. It also includes the Cedar Road upgrade and a new Erling Road, from William Nicol Road to Main Road.
According to Dr Ismail Vadi, MEC for roads and transport, Gauteng has invested billions of rand in its roads infrastructure.
“This investment has contributed to the stimulation of economic activity, created employment and raised living standards in communities, with approximately 95 478 direct jobs and 194 488 indirect and induced jobs created,” said Vadi.
“Our expanding transport infrastructure footprint continues to shape the five development corridors of the Gauteng city region, and provides both social and economic access to our growing population.
“Over R3-billion has been spent on rehabilitation of the road infrastructure along various corridors in the province. The injection of funds serves to facilitate the provision of increased roadway capacity, improved mobility, reduced travel times, and easy access to business and residential areas. It also improves general road safety.”
In his state of the province address, Makhura reiterated that one of the major drivers of foreign direct investment and sustainable economic growth was the quality of the infrastructure in Gauteng.
“According to the Quality of Life Survey released by the Gauteng City Region Observatory in 2016, the quality of infrastructure in Gauteng has received the highest rating in the citizen’s satisfaction survey.
Since 2014, with the private sector, we have invested more than R40-billion to build and maintain infrastructure such as building and upgrading schools
Gauteng premier David Makhura