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South African President Cyril Ramaphosa approved a law to set up a new agency that will develop and manage the country’s water infrastructure and attract financing for new projects.

The law establishes the "National Water Resources Infrastructure Agency" to "enable South Africa to expand bulk water infrastructure and improve the management of existing water assets to ensure water security over the next decade," the presidency said in a statement on Tuesday.

Africa’s most industrialised nation faces frequent water outages due to dilapidated infrastructure and inadequately maintained water-supply systems caused by a lack of planning for population growth, mismanagement, corruption and political infighting. Johannesburg Water, which distributes water in the city, loses 44% of the volume supplied to it to leaks and theft.

Business Leadership SA CEO Busi Mavuso warned earlier this year that "bulk water supply to large manufacturers and mining companies is an increasing concern, posing further risks to economic activity."

The new legislation forms part of reforms "aimed at increasing investment in the maintenance and construction of water infrastructure and improved water quality," the presidency said.

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