The Western Cape has identified Stellenbosch as one of its prime investment and trade locations as investment in technology continues to grow.
According to Wesgro CEO Tim Harris – who this week met with Stellenbosch mayor Gesie van Deventer and minister of economic opportunities Alan Winde to discuss investment and trade opportunities for the famous wine-producing town – Stellenbosch is a fast growing economic hub, with technology being a driving force behind the growth in the region.
“Stellenbosch currently ranks third among all African cities in FDI Intelligence's study of global biotech locations and is at the forefront of satellite technology through aerospace innovation at Sun Space,” Harris said.
Van Deventer agreed that Stellenbosch was primarily known for its wine farms and other agricultural facilities – but said it was also a developing African innovation hub and was home to a number of startups and established businesses in the biotech industry.
The Cape Winelands region has attracted seven FDI projects valued at R2.8 billion since 2015, all located in Stellenbosch, with Harris pointing out that gross domestic product (GDP) of the greater Cape Winelands, which includes Stellenbosch, has grown from R33.3 billion in 2006 to R43.2 billion in 2015.
"Wesgro has been on a mission to maintain investor confidence in the Cape and the greater South African economy. We have achieved various strategic successes since our engagement in June and have been excited to share these opportunities with towns across the province. They have motivated us and we will continue working with municipalities across the province to attract high levels of investment which grows the economy and creates jobs," he said.
