Monday, June 10, 2024

Cape Town Unveils Infrastructure Budget aimed at Job Creation

At the end of May, Mayor Geordin Hill-Lewis unveiled Cape Town’s budget for the fiscal year 2024/25, highlighting a record pro-poor infrastructure investment plan designed to significantly enhance the city and improve the lives of its residents. 

Screenshot: YouTube - City of Cape Town

Introducing the "Building for Jobs Budget," Mayor Hill-Lewis announced an ambitious infrastructure investment plan. “Today, as part of the Building for Jobs Budget, we adopt a record planned infrastructure spend of R39.5bn over three years. This is more than all three Gauteng metros combined, and forms part of a R120bn 10-year pipeline of planned projects that will catapult Cape Town into the future city we all hope it can be, for ourselves, and our children.”

A significant focus of the budget is on improving sanitation and water security, with 75% of the R12bn investment directly benefiting lower-income households. This includes South Africa's largest bulk sewer upgrade on the Cape Flats and major wastewater treatment expansions.

Efforts to enhance the city's electricity grid and reduce reliance on Eskom are also included. “We are investing in more water security from new sources, and less load-shedding as we upgrade our electricity grid, buy power on the open market, and say goodbye to Eskom reliance over time,” said Hill-Lewis.

Public safety will see a boost with a R160m allocation for a joint policing center aimed at enhancing crime-fighting capabilities through advanced technology and coordinated efforts with SAPS.

Transportation improvements are also on the agenda, with expansions to the MyCiTi bus service and enhancements to the city's rail system. Additionally, investments in parks, sports facilities, libraries, and infrastructure upgrades in informal settlements amounting to R3.7bn over three years underline the pro-poor nature of the budget.

Mayor Hill-Lewis emphasized the scale and impact of this investment, noting that it is expected to create 130,000 construction-related jobs over the next three years, building on the over 300,000 jobs created since the current local government term began. 

The budget also promises lower property rates for residential, commercial, and industrial properties compared to other major metros, making Cape Town an attractive place for business and investment.

Done by: Veerle Kroon

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