n AfricaGrowth Agenda - Could project bonds be used as the ideal financial instrument to plug the infrastructure financing gap in South Africa?

Volume 16 Number 3
  • ISSN : 1811-5187


An exploration of the use of project bonds as a complimentary financing instrument for infrastructure projects in South Africa is very much appropriate in light of the fact that there has yet to be a single project bond listed on the Johannesburg Stock Exchange ( JSE), and that the regulator is currently finalizing a structure for the listing of project bonds on the South African bourse. Specifically, the question worth probing is whether different classes of investors would be interested in participating in a project bond offering where the underlying is an infrastructure development in the South African space. Who are the key stakeholders that will be involved with a project bond in South Africa and what is their level of interest and willingness to invest in infrastructure projects through project bonds.

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