The City of Cape Town has secured an additional R3.5 billion in financing from Nedbank to support its infrastructure investment plans over the next three years. The city aims to spend R39.5 billion on infrastructure from July 2024 to June 2027, as outlined in its “Building For Jobs” Budget. According to Nedbank’s updated Capital Expenditure Project Listing for 2023, Cape Town accounted for 60% of the R100 billion in national government infrastructure projects announced in 2023. The investment is expected to create 130 000 construction-related jobs over three years, with the majority of the budgets designated for lower-income households. Cape Town’s 10-year infrastructure pipeline is valued at R120 billion, with most projects classified as economic, social and governance which are linked to its Climate Change Strategy.
