ON THE MONEY
STUART THEOBALD: Private infrastructure investment should take centre stage to rebuild economy
Ramaphosa could use conference this week to shift emphasis away from public projects
The infrastructure debate has been overly focused on public infrastructure. That’s the kind that includes roads, railways and ports, as well as hospitals, schools and government buildings. The other kind — private infrastructure — has not been much talked about. If we are to turn around the economy, that must change. President Cyril Ramaphosa could use his infrastructure conference this week to do so.
The oft-cited 30%-of-GDP goal for infrastructure investment in the National Development Plan includes both public and private investment. Public works & infrastructure minister Patricia de Lille recently said her goal is to get infrastructure spending up to 23% of GDP by 2024, 15 percentage points of that from private infrastructure and the balance from public infrastructure...