CT Generates R2.7 BN Worth Of Investments For ‘18/19 Financial Year

City of Cape Town
The City of Cape Town. Picture: Pixabay.com

The City of Cape Town said R2.7 billion worth of investments was generated for the 2018/2019 financial year.

Officials said this was achieved through collaborations with strategic business partners and companies that were supported by the city to facilitate investment, job creation and skills development.

Mayco Member for Economic Opportunities and Asset Management James Vos said these investments created more than 4,700 jobs and provided skills training to at least 2,100 individuals during the fiscal year that ended in June.

“Their successes are in line with our commitment to ensure that we make Cape Town a go-to city for trade and investment by focusing on sectors with economic growth potential.”

Vos said two key sectors, which consistently bring in investment and create jobs were that of business process outsourcing and green economy industries.

“The sectors which we are prioritising were information communication and technology, craft and design, clothing and textile. We will continue to push business development in Cape Town,” he added.


Thanks for reading and for your interest in South Africa. Content is produced in collaboration between iAfrica’s editorial team and partners — including nongovernmental organizations, private sector stakeholders, agencies and institutions. If you are interested in sharing stories to shine a spotlight on a particular issue, please email i-news@africa.com. We look forward to hearing from you.