The largest amount ever given to a South African municipality has been granted by the International Finance Corporation (IFC) to Cape Town R2.8 billion in infrastructure funding. This funding will be used to modernize the city’s water, sanitation, transport, and electricity systems and create 130,000 constructionrelated jobs. Cape Town plans to allocate R39.5 billion to infrastructure modernization by June 2027 and has secured funding from a diverse financing model that includes local and international funds. This move toward modernization is a symbol of Cape Town’s progressiveness, resilience, and inclusivity.
