'Tshwane will never be the same again', says Moya as municipality kick-starts investment drive

JOHANNESBURG - The City of Tshwane said it could not afford to bankroll dormant assets as the municipality kick-starts an ambitious R5 billion investment drive.

Tshwane Mayor Nasiphi Moya and her mayoral committee visited the Rooiwal power station and the neighbouring Pyramid substation near Pretoria on Thursday.

The city is readying for September’s investment summit, where it will take some of its assets to the market for buy-in from investors in public-private partnerships.

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Moya said that getting the Rooiwal power station up and running after more than a decade out of commission was part of the city’s turnaround strategy.

Around R300 million is spent annually on salaries for staff and maintenance at the non-operational Rooiwaal and Pretoria West power stations.

"Far from being another policy document, this strategy serves as a practical road map for growth, investment and jobs. It sets a bold target to grow the economy at an average of 3.9% by 2029, to attract R17 billion in investment to the city, to add R41.5 billion to the local economy and to create 80,000 new jobs across the formal and informal sectors."

She said that giving the dilapidated Tshwane Show Grounds, the fresh produce market and water infrastructure a facelift was crucial to making Tshwane an investment destination.

"One thing we can say to the potential investors is that Tshwane will never be the same again. Tshwane will be an investment-friendly place."