By Johnathan Paoli
In a move to revitalise public infrastructure and stimulate economic growth, the provincial government has appointed the Gauteng Infrastructure Financing Agency (GIFA) to lead the commercialisation of the province’s portfolio of immovable assets.
Infrastructure development and cooperative governance and traditional affairs MEC Jacob Mamabolo described the appointment as a cornerstone of the province’s broader asset optimisation strategy.
“This appointment forms part of the province’s broader plan to better manage its property portfolio through a multi-faceted strategy that includes the disposal of non-core assets, short-term and long-term leasing, and the promotion of private sector investment and development in a challenging fiscal environment,” Mamabolo said on Thursday.
With an estimated value of R59 billion, these state-owned properties represent a significant opportunity to unlock investment, generate revenue and reduce operational costs in an increasingly constrained fiscal environment.
Mamabolo said that by partnering with the private sector, the government aimed to
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