South Africa's R1-trillion infrastructure plan to anchor new industrial era, says Ramaphosa
President Cyril Ramaphosa stated that South Africa's R1-trillion infrastructure program over the next three years must be the foundation for a new industrial era, rather than just a construction program. Speaking at the SEIFSA Presidential Business Breakfast, Ramaphosa emphasized that the country cannot afford to expand infrastructure like transmission lines, railways, and ports while its metals and engineering industries decline. He highlighted that SEIFSA, representing over 1,300 companies, possesses industrial capability crucial for the nation. Ramaphosa views this as a historic opportunity to rebuild South Africa's manufacturing base, ensuring that every infrastructure project contributes to expanding the economy's productive capacity, creating factories, developing skills, strengthening supply chains, and generating jobs. He described steel, engineering, and manufacturing as the economy's backbone, driving innovation, exports, and employment. Ramaphosa also addressed electricity reform, noting the end of load shedding but warning that high tariffs threaten energy-intensive industries. He promised that the next phase of reform would focus on affordability, with a competitive electricity market starting next year. The President linked the energy transition to industrial renewal, citing the need for 14,000 kilometers of new transmission lines and significant investment in substations. He stressed that South Africa should manufacture new energy economy technologies domestica