South Africa is set to receive a major financial boost after the New Development Bank (NDB) approved a $1 billion package aimed at upgrading critical infrastructure across several municipalities.
According to Reuters, the funding will be channelled into improving essential urban services, including water supply and sanitation systems, electricity distribution, and solid waste management in eight key municipalities.
The benefiting cities include Johannesburg, Cape Town, Buffalo City, Ekurhuleni, eThekwini, Mangaung, Nelson Mandela Bay, and Tshwane.
The NDB, established in 2015 by the BRICS bloc—Brazil, Russia, India, China, and South Africa—focuses primarily on financing large-scale infrastructure projects such as energy systems, transport networks, roads, and ports.
The latest funding support comes as South Africa continues to grapple with a significant infrastructure gap, estimated by the bank at between $254 billion and $329 billion for the 2022–2030 period.
Officials say the investment is expected to help ease pressure on overstretched municipal services and improve living conditions in major urban centres.
