Cape Town: A Thriving Hub for Investment and Economic Growth

Cape Town, in collaboration with Wesgro, is set to become a thriving hub for investment and economic growth. With funding allocated to various programs by the City’s Economic Growth Directorate and the commitment of Wesgro towards projects that will boost the regional economy, residents can expect new job opportunities across various sectors.

Special Purpose Vehicles

The City’s Economic Growth Directorate has allocated funding to several Special Purpose Vehicles with a focus on investment promotion, green energy, tourism, marine manufacturing, clothing production, call centers, and technology. These initiatives are expected to create new business opportunities, jobs and contribute to the economic prosperity of Cape Town and the Western Cape.

Air Access and Cruise Cape Town project

Wesgro has committed to projects that will bolster the regional economy and generate employment opportunities. The Air Access and Cruise Cape Town project aims to enhance Cape Town’s connectivity with other global destinations, both by air and sea. This initiative has not only attracted more tourists but improved access to key global markets, thereby promoting the export of locally made goods resulting in more jobs and a robust economy.

Export Advancement Program

Wesgro will facilitate an Export Advancement program that aims to train local companies in marketing their products and services abroad. The agency will establish a dedicated unit focused on unlocking service export opportunities, conducting research, developing strategies, and participating in Outward Foreign Direct Investment missions and promotional events.

Capetradeportal.com

The agency’s capetradeportal.com, a virtual marketplace and export resource center, connects local exporters with international buyers. Wesgro plans to further enhance and develop the platform to assist local exporters in finding potential buyers across the globe.

MICE Sector

Cape Town and the Western Cape have already established an impressive reputation in the MICE (meetings, incentives, conferences, and exhibitions) sector. The Cape Town & Western Cape Convention Bureau has secured 27 bids for major conferences, projecting an injection of R393.4 million into the local economy.

Business Retention and Expansion Program

The City’s directorate and Wesgro’s collaboration is crucial in administering and funding projects like the Business Retention and Expansion program, which is designed to help businesses grow and prosper in commercial nodes across the metro.

Collaboration between City and Wesgro

Wesgro CEO Wrenelle Stander expressed her appreciation for the City’s support, stating that both organizations have a shared vision to elevate Cape Town and the Western Cape’s competitiveness in the realms of tourism, trade, and investment. She emphasized Wesgro’s dedication to promoting the region as a world-class tourism destination, an attractive location for global and local investors, a sought-after market for goods and services, and a premier hub for filmmaking on the African continent.

With the launch of these initiatives, Cape Town and the Western Cape aim to achieve a more inclusive and sustainable economy. The partnership between the City’s directorate and Wesgro will accelerate the region’s economic growth, solidifying its position as a world-class tourism destination, an attractive location for global and local investors, a sought-after market for goods and services, and a premier hub for filmmaking on the African continent.