Nearly R3bn in investment raised for Cape Town, Western Cape in 2018/19

AFP/Daniel ROLAND

AFP/Daniel ROLAND

This followed a successful fourth quarter in which more than R500 million in declared investments was secured.

The Western Cape’s investment promotion agency Wesgro said on Tuesday it had helped secure R2.85 billion in investments in the province during the 2018/19 financial year which would be realised over a five year period and create nearly 1,000 jobs.

It said this followed a successful fourth quarter in which more than R500 million in declared investments was secured across the technology, real estate, waste and agribusiness sectors.

The investment team manages a pipeline of investors, assisting them to do business in the city and broader province, which is currently valued at R29.4 billion.

“During the last quarter, 25 new investment projects were recruited into the pipeline,” Wesgro said, adding that it welcomed 28 inward business delegations from Germany, China, Switzerland, Thailand, Israel, Hong Kong, Canada, Malaysia, Sweden, Uganda, the United States, Japan, the Netherlands, Mauritius, Qatar, France, and from within South Africa.

Wesgro chief business officer Yaw Peprah said: “A key focus in 2018/19 was to strengthen the agency’s relationship with municipalities across the province, so as to assist in promoting and attracting investment into locations across the entire region.”

– African News Agency

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