Cape Town to invest R120 billion in infrastructure

(Media Release: Issued and provided by City of Cape Town)

Cape Town’s latest annual Infrastructure Report confirms that the City’s R120 billion ten year project pipeline remains on track, with the metro’s infrastructure investments set to dwarf those of other cities. Mayor Geordin Hill-Lewis launched the report at the City Council Chambers on 14 February. 

'We are future-proofing our city by investing in infrastructure at a rate far outpacing any other metro, in fact over the next three years we will invest R43bn, which is more than Joburg and Durban combined. In fact, Nedbank's updated Capital Expenditure Project Listing for 2023, also released this week, finds that Cape Town accounts for a full 60% of the R100 billion in overall government infrastructure projects announced last year.

'We are making the necessary investments now as Cape Town is about to pass Joburg as SA's most populous, with the census confirming we will soon be a city of 5 million. Our metro is also increasingly at the heart of national economic growth, adding over 200 000 jobs in the last year, which is more than SA's other metros combined," said Mayor Hill-Lewis in his address to stakeholders at the report launch.

According to the tabled 2023/24 capital budgets for SA's metros, Cape Town will invest more in infrastructure than Johannesburg and Durban combined over the three-year medium-term budget framework (23/24 – 25/26), with a 91,2% larger capital budget than Joburg (R43,2bn vs R22,6bn), and 116,9% larger budget than eThekwini (R19,9bn).

Read the full press release here.