Cape Town homing in on crown for Africa’s top financial centre

STATEMENT BY ALDERMAN JAMES VOS, MAYORAL COMMITTEE MEMBER FOR ECONOMIC GROWTH

Cape Town has outpaced several cities across Africa and is homing in on the crown for the continent’s top financial centre. Read more below:

According to the latest Global Financial Centres Index, the Mother City moved up seven spots to number 55 globally – one place shy of Casablanca which has held the title as Africa’s top financial centre since 2016.

Meanwhile, the index again gave Cape Town the top spot in Africa on its Fintech list and put it at number 48, up nine places from 2021.

Our city’s strong showing in the index is a testament to local businesses being an engine room of innovation and resilience. As a City government, we have worked hard to forge a strong foundation for economic development and investment and are constantly working to make life easier for businesses.

Part of this includes forming close partnerships with industry bodies to help boost workforces in key industries such as IT, greentech, and business process outsourcing. This has resulted in increased production, investment, and job opportunities

My goal with officials in the Economic Growth Directorate is to build on these foundations to realise greater investment into the local economy and ultimately help Cape Town take the spot as Africa’s best financial centre.