Old Mutual fund urges South Africa to focus on power

A $1.9-billion infrastructure fund owned by Old Mutual said South Africa should start with power as it embarks on an R2.3-trillion drive to lure private investment into infrastructure over the next decade. Electricity is South Africa’s most urgent need and the country has experience of approving renewable energy projects with a prior program attracting R209-billion of private investment, Vuyo Ntoi, co-managing director of African Infrastructure Investment Managers.