Minister Maynier's remarks at Wesgro's Investor Confidence Campaign launch

We are open for business and we want all potential investors to know about the great opportunities available in the Western Cape.

The Investor Confidence Campaign has never been more important for our province and our country. While we face a number of challenges, there are still an abundance of investment opportunities in a variety of sectors that we’d like investors to consider in the Western Cape.

There is more to Cape Town and the Western Cape than meets the eye. We are not only a beautiful place to visit but also a top business destination, and an economic powerhouse on the African continent.

And importantly, as government we are working hard to create an enabling environment for businesses, so that together we grow the economy and create jobs, especially for young people, in the Western Cape.

The Investor Confidence campaign will ensure that the best of the province is showcased, and like the video for Cape Town just presented, the creative content for the Western Cape element of the campaign also showcases five sectors. In our case, we’re focusing on Agribusiness, Manufacturing, specifically Clothing and Textiles and Marine Manufacturing and Engineering Services, Tech and ICT, and Real Estate and Property.

Each sector was identified because of its prominence and potential for growth and opportunity in the Western Cape. I am excited about each of these sectors and committed to their growth.

1. Agribusiness

In the case of Agribusiness the Western Cape is open, for business.

Seven of the top ten exported products from the Western Cape are from the agriculture and agri-processing sectors, including citrus, table grapes, wine, apples and pears.

And, the Western Cape is responsible for an estimated 70% of South Africa’s beverage exports, while at the same time, almost half of Africa’s imports of fermented beverages are from the Western Cape.

That is why investors look to the agribusiness industry in the Western Cape, growing their business in the diverse range of sectors available including aquaculture, agricultural green technologies, blueberries, wine, olive oils, meat, fruit juices, essential oils and cosmetics.

2. Manufacturing

When it comes to manufacturing the Western Cape is open, for business.

The Western Cape, for example, has the highest concentration of clothing manufacturing activity in South Africa.

Now is the time to take advantage of the shifts taking place in the global clothing and textile industry and the emergence of clothing and manufacturing hubs in Africa.

Boatbuilding is also big in the Western Cape. While a large proportion of operations are in and around Cape Town, boatyards also provide much needed employment in towns such as St. Helena Bay, Saldanha Bay, Atlantis, Kommetjie, Simon’s Town, Swellendam, George and Knysna.

The Saldanha Bay IDZ also offers incredible opportunities for investors as we develop the areas as an offshore and maritime hub, including a hub for marine and rig repair and maintenance.

That is why investors look to the manufacturing industry in the Western Cape, growing their business in the extensive range of sectors available such as clothing and textiles, marine manufacturing and electronics.

3. Tech / ICT

On the subject of technology and ICT the Western Cape is open, for business.

As Africa’s leading digital hub, Cape Town and the Western Cape is home to numerous tech start-ups, as well as established international tech companies.

In the Western Cape we offer:

• A diverse community of companies across the technology supply chain. A strong presence of supporting institutions that provide for ease of business.

And in the Western Cape we offer:

• A skilled workforce, affordable operational and residential costs, excellent IT infrastructure and a great lifestyle.

Half of the top universities in Africa are from South Africa, with two of the top three universities being located in the Western Cape – the University of Cape Town, the University of Stellenbosch, the University of the Western Cape and the Cape Peninsula University of Technology

That is why investors look to the technology and ICT industry in the Western Cape, growing their business in the dynamic digital ecosystem available which is powered by talented people who are driving change and innovation.

4. Real Estate / Property

And finally, when considering real estate and property, the Western Cape is open, for business.

The latest available information shows that investor confidence in the Cape Town City Centre remained high during 2018, with the most significant indicator of investor confidence in Central Cape Town being the growth in property value of more than R12,2 billion from 2016/17 to 2018/19

Outside of the city there is much to be confident about.

The Cape Winelands District is the second most populous district in the province.

Stellenbosch is a growing tech and innovation hub.

Paarl is upgrading its business district to facilitate increasing economic opportunities.

And, George offers the largest economy in the Garden Route, and with is beautiful surrounds is a highly popular place to live.

That is why investors look to the real estate and property industry in the Western Cape, growing their business in an enabling environment with an incredibly broad variety of commercial, retail, industrial and residential property available for sale or to rent.

Conclusion

We have a lot to be proud of, but there is still more work to do, and we are focused, even in this time were many people have lost hope, or who have lost trust in government, on actually “getting stuff done” in the Western Cape.

We will, going forward, back business by being responsive to business, by being open for the business, so that we can, together, continue to grow the economy and create jobs, and give hope to people, who do not have jobs, or who have given up looking for jobs, in the Western Cape.

I’m excited that we’re launching this important campaign today to help attract more investment into the Western Cape.

To present a common message to the world: that both Cape Town and the Western Cape province are open for business with many opportunities on offer in a variety of growing sectors.

We welcome this campaign and thank Wesgro for all their efforts in working collaboratively to align the interests of all partners involved.

We are open, for business in the Western Cape.

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Media Enquiries: 

Francine Higham
Spokesperson for the Ministry of Finance and Economic Opportunities
(Responsible for Provincial Treasury and Departments of Economic Development and Tourism)
Tel: 021 483 4327
Cell: 071 087 5150
Email: francine.higham@westerncape.gov.za