South Africa’s water crisis requires more than funding- it demands strong operations and credible institutions. Mergence head of private equity, Chito Siame, argues that while a REIPPPP-style model could attract private capital, water infrastructure differs from energy because it is operationally intensive and prone to failure without proper management. Municipal reform, ring-fenced revenues, and a national agency are key to unlocking investment. Institutional investors have an opportunity, but success depends on performance-based contracts and long-term accountability. Chito notes that water is not simply a financing opportunity – it is fundamentally an operational one, highlighting that sustainable delivery depends on governance, maintenance, and skilled operators.
The Magnificent Seven: looking beyond the hype
With the build-out of data centres not losing steam, the AI trade continues to command investors’ attention. But beneath the
