Investments worth R11 billion for Cape Town, despite lockdown

Statement by Alderman James Vos, Mayoral Committee Member for Economic Opportunities and Asset Management at the City of Cape Town

As a City we have pulled out all the stops to ensure that the funding provided through the Enterprise and Investment Department to our strategic business partners delivers new investments that will lead to job creation and skills training.

Early on in the pandemic, my team and I spent a great deal of time reviewing all our business implementation plans, to make sure the funding we provide will help businesses get through the lockdowns and adapt to the next normal.

This has resulted in R11.27 billion worth of new investments into Cape Town in 2020, during the most difficult period of lockdowns. During the same time, we created 7631 new jobs and trained 2932 people in work readiness.

The key sectors include call center operations, clothing manufacturing, craft and design, technology, boat building and the green economy.

I am immensely proud of these achievements. This goes to show that where there is a will there is a way, even in the toughest of times. Our mission is to make Cape Town the go-to city in Africa and globally for trade and travel.

With the plans we have in place, I am confident that we will get our economy back on track and make a stronger comeback.