Western Cape investment and trade promotion agency, Wesgro, will undertake a “strategic review” of its Investment Business Growth Services unit to focus on better aftercare for existing businesses in the province.
According to the organisation, almost 60% of investment facilitated by Wesgro has emanated from the expansion of existing businesses rather than new investment.
In the 2016/17 financial year, Wesgro’s investment unit recorded R1.14 billion in investments through expansion projects, while only R987 million was attributed to new investments.
Wesgro’s Investment Business Growth Services head, Lindokuhle Ntanti, said that these numbers highlighted the importance of enhancing the agency’s capacity to retain and nurture existing investments in order to further boost the economy.
Wesgro has partnered with students from the Executive Master’s in Leadership programme at the McDonough School of Business at Georgetown University in the United States to identify and establish best practice in investment aftercare.
