n AfricaGrowth Agenda - Alternative financing structure for greening South African cities

Abstract

The National Development Plan compels all cities to create sustainable environments for their communities (RSA, 2012: 37-38). However, the challenge throughout South African cities is the lack of f inances needed to provide the green infrastructure required to drive the sustainable cities agenda, while cleaning up the environment (SANC, 2016: 198-199). Therefore, this paper follows a qualitative, literature-based approach to discuss alternative financing models which include private investors as well. Obviously, as per literature a self-funding municipality could result in cost savings and/or the attraction of outside investment which might be a good idea for South Africa considering its current economic status. However, it seems that in the current situation South African municipalities do not have the finance to kick-start such a process. Therefore, based on satisfactory results from a collaboration between Singapore and China on the transition of greening its cities since 2009, an alternative financing structure for greening South African cities is proposed. This may serve as a guiding tool for policy makers on greening South African cities.