The inaugural Western Cape Investment Summit (WCIS) highlighted investment-ready projects to the value of R400bn and six new investments totalling R50bn that will create 45 000 job opportunities in the province over the next 20 years.
The summit, held at the Cape Town International Convention Centre and themed ‘Catalysing Growth, Connecting Opportunities’, saw the Western Cape Government position the province as Africa’s premier investment destination.
Western Cape Premier Alan Winde highlighted the province’s track record in job creation.
“The Western Cape accounted for 89% of all net job growth in South Africa over the past five years, and that is no accident. It is due to a targeted, deliberate, and sustained effort by our government to create an enabling environment that supports the private sector, to drive job creation.”
Western Cape Minister of Agriculture, Economic Development and Tourism, Dr Ivan Meyer, articulated the core vision of the province’s Growth for Jobs (G4J) strategy – to transform the Western Cape into a R1 trillion inclusive economy by 2035, underpinned by increasing private-sector investment to 20% of regional GDP.
“The WCIS served as a critical execution platform for a key segment of our G4J strategy, which is explicitly focused on driving growth through investment,” said Meyer.
The summit attracted interest in over 200 high-impact projects across the eight key G4J growth sectors, which include the green economy, agri-business, and manufacturing. More than 520 high-profile delegates, project owners and investors attended the three-day summit.
The projects that formed part of the deal book used for investor matchmaking include the R47 billion Saldanha Bay green hydrogen project, and innovative ventures in mechatronics and boatbuilding.
A total of 1 668 meetings were scheduled over the three days and, based on the survey conducted immediately after the matchmaking session, 81% of participants rated the meetings as excellent/good.
Projects presented included the R8 billion Cape Winelands Airport, geared to create 35 000 construction jobs and at least 100 000 long-term work opportunities and a R5.1 billion investment in the development of more than 3 600 new residential units in the Southern Cape, Garden Route and Overberg regions. The property development is premised on a new way of developing land that incorporates digital technology and ethical AI, Biophilic and Regenerative Design, as well Real Estate Economics, into one coherent ecosystem.
"This summit was never the finish line. It was the starting gun," said Winde.
"We have provided the platform for great ideas and capital to engage. Now, our job is to facilitate the rigorous due diligence process that turns a handshake into a multibillion-rand investment. This commitment to growth and jobs was the backbone of the summit."
