Mayor Geordin Hill-Lewis revealed this promising report at the City Council Chambers on 14 February.
Hill-Lewis emphasised Cape Town’s commitment to future-proofing the City through substantial investments in infrastructure, far surpassing those of any other metro.
Over the next three years alone, Cape Town plans to inject a staggering R43 billion into infrastructure development, a figure that eclipses the combined investments of Johannesburg and Durban.
Moreover, Nedbank’s Capital Expenditure Project Listing for 2023 revealed that Cape Town accounted for a remarkable 60% of the R100 billion total government infrastructure projects announced last year.
Hill-Lewis highlighted the pivotal role of these investments in accommodating Cape Town’s burgeoning population, which is expected to soon surpass Johannesburg as South Africa’s most populous city.
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Additionally, with the City’s economy thriving and adding over 200 000 jobs in the last year, Cape Town’s infrastructure initiatives are poised to create an estimated 135 000 jobs over the next three years, further boosting economic prosperity.
A significant portion of this year’s infrastructure budget, amounting to 73%, is earmarked to directly benefit lower-income households and informal settlements, reflecting the city’s commitment to equitable development.
Key areas of investment include water and sanitation, with 42% of the ten-year pipeline allocated to crucial upgrades to wastewater works. Mayor Hill-Lewis underscored the City’s efforts to enhance resilience against climate change, with R55.5 billion dedicated to bolstering resilience against droughts, fires and flooding.
The City’s New Water Programme aims to add 300 million litres of water per day from new sources by 2030, while substantial investments in independent power generation and congestion relief road projects are also on the agenda.
The city is also set to release well-located land for affordable housing, with plans to yield approximately 1500 social housing units within a total of 3 300 units.