Cape Town Secures R2.8bn For Major Electricity Upgrades

The City of Cape Town has secured R2.8 billion from the German Development Bank for electricity upgrades as part of its transition to decentralised energy.

Mayor Geordin Hill-Lewis expressed satisfaction in securing the critical funding to upgrade the citys electricity grid.

We are pleased to secure this critical finance for our plans to upgrade Cape Town's electricity grid. Without reliable infrastructure, we simply cannot achieve our goals to beat power outages, diversify supply, ensure reliable electricity for a growing city, and enable thousands of small-scale sellers to move electricity across our grid, said Hill-Lewis.

He added: That is why we've been on a mission to raise the ambition of our infrastructure investment agenda, which we estimate will create 130 000 construction-related jobs alone over three years.

Lower-income households will also directly benefit from 75 - or R9 bn - of Cape Town's R12 bn infrastructure spend in 2024/25.