South Africa Aims to Fire Up Economic Growth With Port, Rail Revival
- Business, government committee seeks better rail performance
- Cutting crime may save $16 billion a year, committee says
Workers repair sabotaged electrical cables on the central corridor rail freight line in Gauteng, South Africa on Nov. 17.
Photographer: Guillem Sartorio/BloombergThis article is for subscribers only.
South Africa’s government and the business community set a target of boosting the economic growth rate by as much as six percentage points by fixing the country’s collapsing ports and freight-rail network.
They predict that cracking down on crime and corruption may save as much as 300 billion rand ($16 billion) a year, according to a slide presentation from a meeting held earlier this month, which were seen by Bloomberg and confirmed by business representatives. South Africa’s National Treasury has forecast gross domestic product will grow 1% next year.