Jozi to host two major global funding indabas
22-01-2015
High-profile delegates from countries such as the United States, France, Germany and
Switzerland will descend on Johannesburg next week for two important global gatherings – a workshop and a symposium – organised to explore ways and strategies to build sustainable cities in South Africa.
Among them will be experts from UN-Habitat, United Nations’ Development Programme, World Bank, Development Bank of Southern Africa, United States Agency for International Development (USAID), rating agencies Moody’s and Fitch, as well as senior government officials and representatives of banks such as ABSA, Nedbank, RMB and Investec.
Also in attendance will be representatives of South Africa’s large municipalities such as Johannesburg, Tshwane, Ekurhuleni, Cape Town, eThekwini, Nelson Mandela Bay, Buffalo City and Mangaung.
The gatherings, staged by the City of Johannesburg in partnership with the Paris-based Global Fund for Cities Development (FMDV), will be held at the Sandton International Convention Centre.
The first, to be held over two days from Monday, is expected to be attended by 40 delegates, who will explore ways to assist municipalities to diversify their financial resources.
It will also focus on the “possibilities to set a shared financial mechanism to organise bond pooled operations by gathering different South African cities through a dedicated financial vehicle or specific pool”.
It is partly in response to calls by the World Bank and African Development Bank for African cities to create a fund dedicated to helping them diversify their investments to fund infrastructure projects.
Cities such as Johannesburg need to attract new financial resources and raise money from international donors for ambitious economic empowerment programmes such as Jozi@Work. They also need to attract international companies to settle and invest in the city.
The workshop is aimed at creating a dialogue and proactive exchange of ideas. It will also identify the best solutions to common problems cities face, set up a common agenda and launch it to get a pool financing mechanism off the ground, according to the organisers.
Johannesburg Executive Mayor Councillor Mpho Parks Tau will welcome the guests. The workshop will be addressed by, among others, Cooperative Governance and Traditional Affairs Minister Pravin Gordhan, Finance Minister Nhlanhla Nene, Gauteng Premier David Makhura, Gauteng MEC for Finance Barbara Creecy, Gauteng MEC for Human Settlements, Cooperative Governance and Traditional Affairs Jacob Mamabolo and South African Local Government Association CEO Xolile George.
The second gathering will be a three-day funding symposium – to be held from Wednesday January 28 under the theme: “Innovation in financing South African cities.”
It will be attended by more than 100 delegates.
The symposium will discuss the needs and opportunities to develop infrastructure programmes in South African cities.
The dialogue will also focus on sharing experiences on financing infrastructure through land value capture and private investments.
FMDV was established in October 2010 by Metropolis and United Cities and Local Governments (UCLG). It has 34 founding members.
It is an international organisation that seeks to strengthen solidarity and financial capacity among local authorities and is complementary to existing mobilisation and advocacy networks.
The organisation says next week’s gatherings will focus on Johannesburg and other South African cities’ necessity to “diversify their financial resources through innovative mechanisms”.
The last FMDV conference was held in Marrakesh, Morocco, in December last year.
The staging of the two gatherings in Johannesburg once again cements the city’s position as the preferred host of major international events.