Budgeting to make Cape Town the easiest place to do business

STATEMENT BY THE CITY’S MAYORAL COMMITTEE MEMBER FOR ECONOMIC GROWTH, ALDERMAN JAMES VOS

The City’s draft 2023/24 budget builds on our work thus far in making Cape Town the easiest and best place to do business.

I can say that, from my constant engagements with corporations, small business owners, investors, traders and diplomats, this is a budget that speaks to these various arms of the local economy and puts into action our plans for extending avenues of economic access to all Capetonians.

As such, our focus will be on enhancing City systems and infrastructure as it relates to traders, small business owners, investors, and the communities with whom they engage.

For example, R121 million will be put towards broadband infrastructure and R76,3 million towards enhanced e-services for municipal billing and the upgrading of digital platforms to report service delivery issues.

For informal traders, R184 million has been earmarked for trading area capital upgrades and another R3,8 million to further upgrade the e-permitting system, expanding on the City’s ability to support and engage the sector through smarter, interactive applications.

Within this framework, we will continue to develop a pipeline of infrastructure by proactively identifying new spaces for trading on City land and public spaces.

We will also continue to drive support for small businesses and entrepreneurs through our Business Hub and successful enterprise development initiatives such as the Productivity Efficiency Programme and the Supplier Development Programme.

Our growth coalition programme with industry business partners, which has poured billions of rands in investments into the local economy and generated thousands of jobs for Capetonians, is set to receive a R114 million boost in the next financial year. Since my appointment as Mayoral Committee Member for Economic Growth, I made it my mission to work out alignment and cooperation amongst the highest performing sectors to ensure that our city’s unique economic geography and value proposition becomes the clear road map towards a more inclusive and functional economy. This includes budget for sector-specific projects covering skills and investment facilitation in industries such as marine manufacturing, green energy, business process outsourcing, technology, tourism, and clothing and textile production.

Cape Town has become a beacon of hope in a country that is facing harsh economic realities. But we have a long way to go. With this budget and through the dogged pursuit of our mission to create opportunity for all Capetonians, we will continue being that beacon.