The appointment follows the signing of a Memorandum of Agreement (MoA) in August this year, between National Treasury, the Department of Public Works – Infrastructure South Africa and the DBSA, which set out the DBSA’s mandate to establish and manage the Infrastructure Fund.
The Fund seeks to fundamentally transform the State’s approach to the financing of infrastructure projects by reducing the current fragmentation of infrastructure spend and thereby ensuring more efficient and effective use of resources and improve the speed and quality of delivery.
In his role as Group Executive: Infrastructure Fund, Rakgate will be responsible for setting up the Fund through a dedicated implementation unit that will be housed at the DBSA and facilitating the financial structuring, procurement and implementation of priority blended-finance projects and programmes.
Rakgate joined the DBSA in 2007, following a stint at the International Finance Corporation (IFC) in Washington DC where he worked on projects in different regions across the developing world.
In 2017, Rakgate was promoted to Group Executive: Project Preparation and in this role was instrumental in establishing the Bank’s project and programme development capabilities which resulted in national programmes such as the Independent Power Producer (IPP), Student Housing and Digital Connectivity programmes. Additionally, he led the establishment of the Climate and Environmental Finance unit, as well as the scaling up of the DBSA’s municipal infrastructure planning programmes.
Rakgate holds a BCom degree from the University of Limpopo, a Post-graduate Certificate in Management from University of London, and an MSc degree in Global Finance from HKUST-NYU Stern. He has also completed an Advanced Management Programme from Harvard Business School, as well as the Project and Infrastructure Programme from London Business School.
Ends Note to Editors: About the Development Bank of Southern Africa (DBSA)
The Development Bank of Southern Africa (DBSA) is a leading Development Finance Institution (DFI) in Africa. Established in 1983, the DBSA participates across the entire infrastructure value chain and provides planning, project preparation, financing, and implementation support for economic and social infrastructure in South Africa, SADC and the rest of the African continent. The institution’s mission is to improve people’s lives, boost economic growth and promote regional integration through infrastructure development.
For more information, visit www.dbsa.org
For further information contact:
DBSA Media Relationsdbsa@dbsa.org
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