23 March 2021
Mayoral Committee Member for Economic Opportunities and Asset Management, Alderman James Vos, this month hosted a webinar with the international Consular Corps to share what the City of Cape Town has accomplished during very difficult times, and to discuss the exciting initiatives ahead.
The City is determined to attract and retain foreign direct investment which is of strategic importance to the economic development of Cape Town and for the benefit of residents.
To this end, the City launched its business brand called Invest Cape Town to enable the future development of the city and to achieve our vision of becoming a high-performance, African business hub that supports big ideas and innovation.
Managed by the Enterprise and Investment team, Invest Cape Town is also a demonstration of the City’s commitment to creating a platform that contributes to the increased awareness, attractiveness and competitiveness of the city as a place to do business.
“I always enjoy the opportunity to speak with and update the international Consular Corps,” said Alderman Vos. “We are all aware that the global pandemic has wreaked havoc on many economies and businesses, but we could all agree that it is not all doom and gloom.”
Through Invest Cape Town and the Enterprise and Investment Department, the City has a range of plans and programmes to ensure that we not only survive, but that we will build back better than before.
Driven by Cape Town’s Economic Action Plan, established early on in the pandemic, the City has been able facilitate ZAR11,27 billion worth of investment, create 7 631 new jobs and train almost 3 000 people during 2020, through the City’s Strategic Business Partners.
The Enterprise and Investment Department also runs programmes that upskill and place unemployed residents in work opportunities. The Cape Skills and Employment Accelerator project provides training and secures job placements for 3 300 residents. The Jobs Connect programme provides work readiness training and links employers to jobseekers through an online portal.
For businesses, the City’s business help desk assisted 2 850 SMMEs last year with product and supplier development workshops and red-tape reduction.
The Business Retention Programme and Business Rescue Programmes work to help as many businesses as possible to stay open. The recent launch of the Mobile Business Hub means that services can now be taken to where businesses are.
“Looking to the future, the team and I are working full steam ahead on Cape Town’s economic recovery and readiness,” added Alderman Vos. “With the right plans, which are proven to work, I am confident that we will be able to attract the investment we need not only to survive, but to thrive.”