Business Day reports that SA will increase spending on new infrastructure in a bid to attract new investment and diversify the economy, President Jacob Zuma said at the World Economic Forum in Davos yesterday. Included are the infrastructure needed to host this year’s Soccer World Cup and a broader investment programme in which both the public and private sector will participate.
State-owned power utility Eskom is spending R385bn over five years to expand electricity capacity, while Transnet has allocated R80,5bn towards pipeline, rail and port projects. The investment helped Africa’s largest economy emerge from its first recession in 17 years in the third quarter of last year. http://www.directinvestment.biz/
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