Infrastructure development is at the centre of the government’s agenda for inclusive economic growth and job creation, President Cyril Ramaphosa said in his state of the nation address.Without economic infrastructure development and social infrastructure development , SA stands little chance of successfully addressing its many pressing challenges: economic growth, unemployment, energy provision, education, health, housing provision, and social and economic inequality.
With the provision of much-needed infrastructure SA’s prospects for economic growth and social upliftment are also boosted. Things are more likely to work: traffic can flow, students can be educated, the lights can remain on, and business will be done. By pooling expertise and knowledge, sharing the costs of due diligence, spreading risk and consolidating bargaining power — but still retaining individual decision-making about making investments — bodies such as the Asset Owners’ Forum can collectively take on large-scale, longer-term infrastructure development investments. And smaller players are also able to participate meaningfully.
In financing a tollway one could thus accurately calculate the traffic it will bear, and calculate income from toll fees and concessions over a set period. An investment in student accommodation could similarly provide accurate returns based on fixed numbers of occupants and the rentals they will pay. Renewable energy producers could sell power to Eskom on a take-or-pay basis, at a known tariff.
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