The pact, announced in the South African port city of Durban on the sidelines of a Group of 20 meeting, is designed to speed up the delivery of major infrastructure<\/a> projects<\/a> in the nation as its scrambles to clear a backlog that\u2019s hindering economic growth.<\/p>\n\n\n\n South Africa<\/a>\u2019s economy has grown at less than 1% a year on average for more than a decade.<\/p>\n\n\n\n Under the partnership, Reeves said, the UK will offer South Africa<\/a> technical expertise to get a pipeline of projects<\/a> ready for investment. She cited a similar program with Peru as a model for the collaboration.<\/p>\n\n\n\n \u201cBritish expertise will be brought in to unblock these barriers on building<\/a>, speeding up a pipeline of projects<\/a> which British firms are well-placed to win tenders for,\u201d the UK Treasury said in a statement on Thursday. \u201cThis will help growth and development in South Africa<\/a>, and also help Britain get better return on its investments in the country.\u201d<\/p>\n\n\n\n South African President Cyril Ramaphosa<\/strong> has estimated that the nation needs R4.8-trillion in public and private infrastructure<\/a> investment by 2030 to meet its goals. The country\u2019s Treasury has allocated R1-trillion to public infrastructure<\/a> over the next three years.<\/p>\n\n\n\n South Africa<\/a>\u2019s public infrastructure<\/a> deficit ranges from inadequate water<\/a> treatment and supply facilities to a need for investment in power<\/a> transmission lines and the rehabilitation of rundown city centers in major metropolitan areas such as Durban and Johannesburg.<\/p>\n\n\n\n The country\u2019s minister of public works & infrastructure<\/a>, Dean Macpherson<\/strong>, has stated that his department seeks to boost investment in cities through more private investment. He has bemoaned the fact that many municipalities return infrastructure<\/a> allocations to the Treasury because they lack the expertise to implement projects<\/a>.<\/p>\n\n\n\n \u201cBy injecting technical expertise and delivery support into stalled projects<\/a>\u201d through the partnership, the department aims to use neglected buildings and vacant state land to boost economic growth and create jobs, Macpherson said in the statement.<\/p>\n\n\n\n At $7.7-billion in two-way trade, the UK is South\u00a0Africa<\/a>\u2019s seventh-biggest trading partner and one of its largest investors. It is also part of the Just\u00a0Energy<\/a>\u00a0Transition Partnership between South\u00a0Africa<\/a>\u00a0and some of the world\u2019s richest nations. Under that agreement $8.3-billion in climate finance could\u00a0flow<\/a>\u00a0to South\u00a0Africa<\/a>.<\/p>\n\n\n\n Profitable business makes your profit The pact, announced in the South African port city of Durban on the sidelines of a Group of 20 meeting, is designed to speed up the delivery of major infrastructure projects in the nation as its scrambles to clear a backlog that\u2019s hindering economic growth. South Africa\u2019s economy has grown at less than 1%…<\/p>\n","protected":false},"author":1,"featured_media":15444,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18],"tags":[20,22,23],"class_list":["post-5523","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-solutions","tag-business","tag-growth","tag-service"],"_links":{"self":[{"href":"https:\/\/nqabeleprojects.com\/index.php\/wp-json\/wp\/v2\/posts\/5523","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nqabeleprojects.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nqabeleprojects.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nqabeleprojects.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nqabeleprojects.com\/index.php\/wp-json\/wp\/v2\/comments?post=5523"}],"version-history":[{"count":1,"href":"https:\/\/nqabeleprojects.com\/index.php\/wp-json\/wp\/v2\/posts\/5523\/revisions"}],"predecessor-version":[{"id":15445,"href":"https:\/\/nqabeleprojects.com\/index.php\/wp-json\/wp\/v2\/posts\/5523\/revisions\/15445"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nqabeleprojects.com\/index.php\/wp-json\/wp\/v2\/media\/15444"}],"wp:attachment":[{"href":"https:\/\/nqabeleprojects.com\/index.php\/wp-json\/wp\/v2\/media?parent=5523"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nqabeleprojects.com\/index.php\/wp-json\/wp\/v2\/categories?post=5523"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nqabeleprojects.com\/index.php\/wp-json\/wp\/v2\/tags?post=5523"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Ult<\/h5>\n","protected":false},"excerpt":{"rendered":"