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WELCOME TO TCTA
Trans-Caledon Tunnel Authority (TCTA) is a state-owned entity charged with financing and implementing bulk raw water infrastructure projects. It is an agency of the National Department of Water and Sanitation (DWS), which is responsible for the country’s water resources in respect of usage, equitable allocation and distribution. TCTA assists the government in its pursuit of water security for South Africa and in realising its constitutional obligation of ensuring universal access to this essential resource for all citizens. For more information about TCTA, click here.
Authority briefs journos on state of affairs
TCTA faces challenges with raising finance for its projects primarily because of the prevailing global economic conditions and the poor reputation of state-owned entities (SOEs), CEO Percy Sechemane told a virtual media briefing on Monday, 22 March. Further complicating was the government’s tougher stance of issuing debt guarantees for SOEs in the last two years. It now took an average of 18 months to receive approval of borrowing limits from the Minister of Finance.
The exists confusion around interpreting TCTA’s mandate, which affected the issuance of guarantees. Further, stagnant tariffs negatively affect the organisation’s management of debt and the ability to attract new funding. Meanwhile, TCTA needs to raise R33 billion this year to fund infrastructures projects and to redeem debt.”(Read more)
Stakeholders consider ways to unlock project funding
In view of the emerging challenges with raising funding for infrastructure projects and their importance to economic growth, TCTA recently brought together stakeholders to deliberate on how to navigate the changing landscape.
Misaveni Ngobeni, representing the National Treasury, impressed upon the participants the importance of infrastructure spending in stimulating an economy that is facing headwinds. The COVID-19 pandemic has aggravated the low-growth trajectory with the gross domestic product (GDP) sliding a considerable 7,2 percent in 2020. (Read more)
TCTA prides itself to only recruiting the most knowledgeable and highly skilled professionals in the continent. As an employer who targets only the best in the game, the organization is passionate about investing in knowledge sharing and inspiring future professionals from the early stage.
TCTA has found it beneficial to create partnerships with other organisations that share this same passion, in partnership with the Rural 2 Rural initiative, R2R, TCTA frequently visit various schools across the country with the aim of finding those individuals that will be willing to listen and use the information to their advantage.
This year, TCTA has already visited about eight schools around Limpopo and in Gauteng, and there are plans in place to visit more schools across the country throughout the year. In addition to TCTA giving learners information about its own bursaries and internship programmes, the organisation also gives career guidance to learners. While the programme is spearheaded by the Communications and Stakeholders department in the organization, colleagues from other divisions are encouraged to offer their time during these visits. (Read more)
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