South Africa’s eight metros – which generate 57% of the national gross domestic product – need to work more closely with National Treasury, state-owned entities (SOEs) and the private sector to ensure trade growth, infrastructure development and investment.
This was the message from Minister of Finance, Malusi Gigaba, who delivered the keynote address at a two-day Ekurhuleni Investment Conference - aimed at showcasing developments and investment opportunities around the City’s ambitious aerotropolis project – which kicked off yesterday (Monday).
He said that the City of Ekurhuleni had contributed almost R210 billion to the country’s GDP last year, which was 8.1% higher than the R193.4 billion generated five years earlier in 2011. “But it’s not enough to generate the growth and job creation we need in South Africa,” Gigaba commented.
He said Treasury had created the Cities Support Programme to work with the metros on investment promotion, spatial development and the implementation of special catalytic projects and urged Ekurhuleni to become part of the programme.
Gigaba called on SOEs such as Transnet, Airports Company of South Africa and South African Airways to include the planned aerotropolis in their capital investment plans. “With a good foundation and effective partnering in place, it will be possible to address the most significant spatial and economic challenges facing the metro,” he said.
