Cape Town’s plan to create over 100,000 jobs

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“Over the next three years, the city intends to invest R43 billion in infrastructure at a rate far outpacing any other metro. These infrastructure investments will create an estimated 135,000 jobs over the next three years,’ said the city’s Executive Director for Future Planning and Resilience, Gareth Morgan.


Cape Town Mayor Geordin Hill-Lewis previously said that lower-income households will directly benefit from 75%—or R9 billion—of Cape Town’s R12 billion infrastructure spending in 2024/25. This is larger than the entire infrastructure budget of any other metro.


That said, the city admitted that it is experiencing a shortage of a vital set of skilled professionals – engineers.


“The city is currently experiencing a shortage of professional engineers to support its main goal of infrastructure development. Many engineers within the city are reaching retirement age.,” said Theresa Uys, Mayoral Committee Member for Corporate Services.


“The city needs to plan ahead to mitigate any impact this may have on future service delivery. As cities expand, their industries and people need to be supported by adequate services, from electricity, water and other amenities to additional services that aid modern development beyond the basics.”


The City of Cape Town has, however, been part of the National Treasury-funded Infrastructure Skills Development Grant (ISDG) Programme since the 2014/15 financial year. The initial grant allocation was R1 million, and this has now grown to R12 million for the 2024/25 financial year.


“Since the inception of the programme graduates have been declared competent in their fields and were absorbed into permanent positions within the City,” added Uys.


“The programme’s main objective is to build a talent pool of scarce skills within municipalities across the country by training and mentoring graduates and to assist them with registering with their relevant statutory professional councils.”


125 graduates have directly benefitted from the ISDG programme at the City of Cape Town, with skills in Civil Engineering, Chemical and Mechanical Engineering, Materials Science, Biotechnology, Chemical Science, Environmental Science and Quantity Surveying.


Mega projects coming to South Africa


Cape Town is not the only area set for significant infrastructure investment in the coming years.


According to Nedbank’s Capital Expenditure Project Listing for the first half of 2024, roughly R800 billion has been invested in new mega-projects in South Africa. This trumps the R193.2 billion and R260.4 billion recorded in 2023 and 2022, respectively, following a huge jump in projects from all sectors.


The R200 billion of projects in the private sector was drawn by a jump in the total value of projects announced by the general government.


The largest private sector development is the new R18 billion Bankenveld District City in Johannesburg.


Calgro M3 and Eris Property Group are developing the new mixed-use ‘city’, which will feature residential, commercial, retail, industrial, educational, and healthcare components.


Other mega-projects include Cape Winelands Airport and a significant upgrade at Volkswagen’s Kariega manufacturing plant.




Read original story on Businesstech.co.za


   


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