R7,7 billion worth of investment heading directly to Cape Town

by | Dec 3, 2020 | Featured Slider, Latest, News

Statement by the City’s Mayoral Committee Member for Economic Opportunitties and Asset Management Alderman James Vos

Of the investments announced at last week’s Presidential Investment Summit, R7,7 billion will be invested directly into Cape Town. The investments into Cape Town include Google (R2,2bn), Amdec (R2bn), Capita (R500m), and Teraco (R3bn).

There is no better testament to our investment ecosystem. Major international corporations know that they can access world-class infrastructure, sound governance, a skilled workforce, and the political will to secure significant investment, which will result in job creation.

The City of Cape Town is ready to partner with the public and private sector to help attract investments that will drive demand and make sense.

Our Investment Facilitation Unit, within the City’s Enterprise and Investment Department, focuses exclusively on attracting investment, providing various kinds of specialist support to small and large businesses, as well as investment incentives and skills development so we can help businesses reach their full potential and employ more people.

For more information on the City’s business brand, Invest Cape Town, run by Enterprise and Investment Department, visit www.investcapetown.com

The City provides funding to and collaborates with Strategic Business Partners (SBPs) to actively seek out opportunities to grow our economy by attracting investment. Due to the national lockdown, part of our strategic plans to plot the road to recovery was to ask our SBPs to pivot their operations, which resulted in significant investment and job creation.

Between April and September 2020, the City’s SBPs collectively facilitated R8,8 billion worth of investment, created 4 980 jobs and trained 1 366 people, despite the various stages of the national lockdown and economic downturn we have faced.

Two of our SBPs, Wesgro’s Investment Promotion Unit, assisted by the InvestSA One Stop Shop, helped facilitate the Amdec deal, with CapeBPO (formerly known as BPeSA) facilitating the Capita investment.

The strategies implemented and the collective achievements by our SBPs proves that where there is a will, there is a way to plot a sustainable path to economic recovery.

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