JOHANNESBURG - Infrastructure South Africa has established a first-of-its-kind initiative that will allow government entities to apply for project preparation support.
At a media briefing on Tuesday, ISA revealed it has a multimillion-rand fund available to government departments that have existing projects but need extra assistance to get them off the ground. When a private company wants to build a housing project, it requires the relevant municipality to assist it with bulk infrastructure like roads, sewage, water, and electricity.If a municipality doesn't have enough money for this, ISA will come in to bridge the gap.
The Minister of Public Works and Infrastructure - Dean Macpherson - said many projects fail due to insufficient preparation support."The launch of our project preparation bid window will help to turbocharge infrastructure investment in South Africa as it will ensure that more projects are shovel-ready sooner while increasing the trust the private sector has to invest in state infrastructure projects," said Macpherson.