City hosts US roadshow to showcase Cape Town’s investment opportunities

The City’s Mayoral Committee Member for Economic Growth, Alderman James Vos, this week conducted a roadshow with a US delegation to showcase Cape Town’s high-growth industries.  The US Consul-General, Todd Haskell, led the US group.  Read more below:

‘The City government’s mission is to build a stronger, more resilient and inclusive economy. Towards this end, we are forging stronger relations with partners in key source markets for the furtherance of investment and trade opportunities. For the past decade, the US has been the largest investor in the Western Cape by Capex, investing R4,4 billion into the province in 2021. With this roadshow, the City is highlighting the success of companies who have set up shop here, and the potential for new investors,’ said the City’s Mayoral Committee Member for Economic Growth, Alderman James Vos.

The delegation started the day at the Cape Innovation and Technology Initiative (CiTi), the City’s Strategic Business Partner (SBP) through which thousands of Capetonians have been trained for work in the IT industry. Thereafter, the group visited four businesses: Teleperformance call centre; marine manufacturers, Ullman Sails and Voyage Yachts; and MASKAM Water, a manufacturer of water treatment systems. Representatives of these industry SBPs – CapeBPO, Blue Cape, and GreenCape – were also present at the roadshow.

‘These organisations signify the variety of investment opportunities in Cape Town. It further underscores the value of the City’s targeted collaboration with SBPs such as CiTi, to boost the availability of skilled workforces that are ready to meet investor demands.

‘The US and the City had forged a strong relationship that has resulted in three direct flights to Cape Town from Atlanta, Washington D.C., and New York. Last year, the US ranked as the province’s biggest export market, with Cape products valued at nearly R17 billion making its way into the North American country. This is up 57,5% on 2020.

‘These gains are because of the hard work by the City government and its partners to open up more travel and trade opportunities,’ said Alderman Vos.

Consul-General Haskell, who assumed his position in Cape Town in April this year, is a longtime friend of Africa, having previously served as the US Ambassador to the Republic of Congo and as Deputy Assistant Secretary in the Bureau of African Affairs.

‘The United States is the number one foreign direct investor in the Western Cape, working in partnership with local government and the private sector to grow our economies and increase jobs. Our bilateral links make both our regions stronger and more prosperous. Today’s visits showcasing investments, entrepreneurs, and businesses that exemplify this partnership was inspiring – especially to understand the number of jobs and livelihoods that are being created through these investments and collaborations. The United States stands as South Africa’s friend as we seek to expand opportunities for our peoples on both sides of the ocean,’ said Consul-General Haskell.

Alderman Vos noted that he also shared details of the City’s special Investment Facilitation Branch (IFB), which is dedicated to helping businesses and investors to land and expand their operations in the Mother City.

‘These initiatives show that we are continuously working to make Cape Town the easiest and best place to do business which will in turn help local businesses to produce and export more goods, drive up inbound investments, and create more job opportunities for Capetonians,’ said Alderman Vos.