Cape Town, South Africa, will be investing R11bn in infrastructure, making it the largest infrastructure budget among all of the country’s metros. This announcement was made by Mayor Geordin HillLewis during a City Council meeting. The budget is part of the City’s plan to build a “City of Hope” for all its residents, regardless of their background or where they live.
Tourism is a crucial sector in Cape Town’s economy, with many small businesses relying on it for their livelihoods. The City of Cape Town recently organized a community conversation with Hout Bay tourism operators to support and strengthen the industry.
The City of Cape Town is proud to support once again the annual Suidoosterfees, which will take place from April 26 to May 1, 2023, at the Artscape. This festival has become a major cultural event on the Cape Town calendar and highlights the best of the region’s arts and culture scene.
The Oceans Mall, located in Umhlanga, KwaZuluNatal, South Africa, has been making waves in the retail industry since its opening in November 2022. The mall, developed by businessman Vivian Reddy, has been called the “Dubai in Durban” and has been described as a “game changer” for KwaZuluNatal.
The fifth annual Investment Conference in South Africa, recently held in Johannesburg, has been a resounding success. The gathering, aimed at promoting investment in the country, attracted investors from both South Africa and other parts of the world. Some leading industries that received investment commitments included mining and mineral beneficiation, the energy sector, industrial sector, advanced materials, chemicals, healthcare, pharmaceuticals, food and beverage, infrastructure development, logistics, and social housing. With these sectors receiving significant investment commitments, the conference achieved its target of R1.2 trillion investments.
Streaming giant Netflix has pledged to inject R929 million into the South African creative industry, recognizing the potential of the country’s TV and film sector. Madeleine de Cock Buning, Netflix Vice President for Public Policy EMEA, views South Africa as an untapped opportunity for the company, having already created 7,000 jobs in the country. According to Buning, the TV and film industry has a significant impact on economic growth and jobs, playing a crucial role in the African economy.