South Africa Metro Trading Services Program

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00:06 South Africa's vibrant cities are home to almost 70% of the population.

00:11 These cities are vital engines for jobs,

00:14 opportunity,

00:14 and economic growth.

00:16 But South Africa's 8 largest cities are facing a crisis.

00:21 The Metro trading services,

00:23 such as water supply,

00:24 sanitation,

00:25 electricity,

00:25 and solid waste management,

00:27 are starting to fail.

00:28 Urgent action is needed to reverse the rapid deterioration.

00:32 We are at a breaking point.

00:34 Trading services are the backbone of our economy.

00:37 No one will

00:38 invest in a country where there is no water sustainability.

00:41 There is sewer running in the streets,

00:44 and there is waste everywhere.

00:45 It's a critical

00:47 investment for South Africa's growth,

00:49 not only for this year,

00:51 but.

00:51 For decades to come.

00:53 It's time to invest in these cities and invest in South Africa's future.

00:57 To do so,

00:58 the National Treasury is launching an innovative

01:01 program to assist and incentivize city services.

01:05 Communities are up in arms.

01:07 They don't have water.

01:08 Sanitation is running our streets

01:10 and the quality of water that they drink is deteriorating.

01:14 Let's deal with our inefficiencies

01:16 that these businesses we've been running them

01:19 in a way that is inefficient,

01:21 in a way that is unsustainable,

01:23 and we cannot carry on doing it that way.

01:26 The Metro Trading Services Program will enable cities to refocus

01:30 and improve the provision of basic services,

01:33 water supply and sanitation.

01:36 Electricity

01:37 and solid waste.

01:40 If cities hit their targets,

01:42 they are rewarded with additional funding,

01:44 and city services for residents improve.

01:48 But if cities fail to reach their targets,

01:51 there's no additional funding,

01:52 and they will be accountable to their citizens.

01:55 If you're extending and expanding

01:57 and not maintaining what you already have,

02:00 at some point,

02:00 you're gonna have a problem.

02:01 And I think as Joburg in particular,

02:03 but,

02:04 uh,

02:04 South Africa generally,

02:05 we,

02:05 we've come to that point where,

02:08 uh,

02:08 a majority of our old infrastructure is collapsing.

02:12 Trading reforms are critical,

02:14 uh,

02:14 to address

02:16 both the backlog and the expansion,

02:17 but in the main,

02:18 making sure that whatever is in the ground,

02:20 um,

02:21 in terms of water and electricity is fixed.

02:24 Cities that improve their services will unlock $3 billion in funding.

02:30 This performance-based approach ensures money is not wasted,

02:34 and that cities that do the work,

02:36 will experience transformational change.

02:39 Together,

02:40 we can adapt and thrive.

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South Africa's vibrant cities are home to almost 70% of the population. These cities are vital engines for jobs, opportunity, and economic growth. But South Africa's 8 largest cities are facing a crisis. The Metro trading services, such as water supply, sanitation, electricity, and solid waste management, are starting to fail. Urgent action is needed to reverse the rapid deterioration. We are at a breaking point. Trading services are the backbone of our economy. No one will invest in a country where there is no water sustainability. There is sewer running in the streets, and there is waste everywhere. It's a critical investment for South Africa's growth, not only for this year, but. For decades to come. It's time to invest in these cities and invest in South Africa's future. To do so, the National Treasury is launching an innovative program to assist and incentivize city services. Communities are up in arms. They don't have water. Sanitation is running our streets and the quality of water that they drink is deteriorating. Let's deal with our inefficiencies that these businesses we've been running them in a way that is inefficient, in a way that is unsustainable, and we cannot carry on doing it that way. The Metro Trading Services Program will enable cities to refocus and improve the provision of basic services, water supply and sanitation. Electricity and solid waste. If cities hit their targets, they are rewarded with additional funding, and city services for residents improve. But if cities fail to reach their targets, there's no additional funding, and they will be accountable to their citizens. If you're extending and expanding and not maintaining what you already have, at some point, you're gonna have a problem. And I think as Joburg in particular, but, uh, South Africa generally, we, we've come to that point where, uh, a majority of our old infrastructure is collapsing. Trading reforms are critical, uh, to address both the backlog and the expansion, but in the main, making sure that whatever is in the ground, um, in terms of water and electricity is fixed. Cities that improve their services will unlock $3 billion in funding. This performance-based approach ensures money is not wasted, and that cities that do the work, will experience transformational change. Together, we can adapt and thrive.

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