“Let me take this opportunity to congratulate the South African National Space Agency (SANSA) for having been awarded a significant R4.47 billion in additional funding over the next three years, to develop the Space Infrastructure Hub as part of our Government’s Sustainable Infrastructure Development Symposium (SIDS) initiative,” Minister Blade Nzimande said.
“As a Department, we stay true to our impact statement, that we are “Enabling South Africa’s sustainable and inclusive development in the face of rapid technological change and innovation”.
This, very much in line with our new name, the Department of Science and Innovation, which represents a unique opportunity to demonstrate how science and innovation can contribute to socio-economic well-being.
Our achievement today for the development of the Space Infrastructure Hub will indeed go a long way to ensure that we grow our capacity and infrastructure to continue to champion our world-class space science research and innovation.
This Space Infrastructure Hub marks a significant milestone for the South African space sector to build an indigenous space capability that will serve the needs of South Africa.
The project will position space data as a tool for sustainable development, especially addressing our government’s national priorities and for commercial use in thematic areas such as remote sensing, navigation, and space sciences.”
At the start of the new year, SANSA submitted a proposal for consideration, as part of the Sustainable Infrastructure Development Symposium (SIDS).
The SIDS is an intervention, introduced by President Cyril Ramaphosa, to focus investments in infrastructure as part of South Africa’s economic recovery plan.
SANSA has been part of the process for several months and attending technical meetings hosted by the Presidency weekly. As part of the process, SANSA presented a pitch based on our proposal for a SIH to service government’s needs to over 60 Investment Institutions. Indications provided suggest that there was significant interest from several investment institutions towards the SANSA bid.
On 23 June 2020, the President hosted the SIDS and of the 270 or so projects that were submitted for consideration, 88 projects were classified as bankable (i.e. shovel ready).
Of these 88 projects, five were considered a high priority for the country in terms of the associated impact that was expected.
SANSA pitch for a SIH was considered as one of the top five projects earmarked as a high priority for the country.
The total value of the SANSA pitch was R4.47 billion of blended financing (parliamentary grants, debt and equity financing) over three years with an expected Internal Rate of Return of 11% over the next 10 years.
Read the full article here: https://www.gov.za/speeches/minister-blade-nzimande-media-briefing-space-infrastructure-hub-sih-16-sep-2020-0000