Cape Town is set to invest $2.42bn in infrastructure projects over the next three years, exceeding the investment of other major cities. This substantial investment is expected to generate 135,000 new jobs.
Cape Town Mayor Jordin Hill-Lewis stated that 75% of the $678m allocated to infrastructure in the 2024/25 financial year will support low-income households, exceeding the proportion dedicated to low-income support in any other city’s infrastructure budget.
“We are committed to creating a city that works for everyone, and that means investing in infrastructure that will create jobs and opportunities for all,” said Hill-Lewis. “This investment will not only improve the lives of our residents but also contribute to the economic growth of our city.”
Since the 2014/15 financial year, Cape Town has participated in the National Treasury-funded Infrastructure Skills Development Grant (ISDG) Programme. The ISDG Programme aims to train professionals with skills shortages for municipalities through training and mentoring, as well as assisting with registration with professional boards.
The programme has already resulted in 125 graduates in Cape Town gaining skills in areas such as civil engineering, engineering, materials science, biotechnology, chemistry, environmental science, and surveying. This is reported by BussinessTech.
This substantial investment in infrastructure and skills development is expected to significantly impact Cape Town’s economy and workforce over the coming years.
