Wesgro secures R7.75bn in investments projected to create nearly 4,000 jobs

04 November 2024 - 14:16 By Jim Mohlala
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A rainbow is seen from Cape Town International Airport after heavy rain on November 4 2024. Wesgro, the Western Cape government’s trade and investment promotion agency, has secured R7.75bn in committed investments for the 2023/2024 financial year. File photo.
A rainbow is seen from Cape Town International Airport after heavy rain on November 4 2024. Wesgro, the Western Cape government’s trade and investment promotion agency, has secured R7.75bn in committed investments for the 2023/2024 financial year. File photo.
Image: Reuters/Esa Alexander

The Western Cape government’s trade and investment promotion agency Wesgro has secured R7.75bn in committed investments for the 2023/2024 financial year. 

Noko Masipa, a member of the provincial legislature and DA spokesperson on economic development and tourism, said this would lead to 3,913 jobs being created over the next five years. He said the green economy had emerged as a key investment driver, representing 57% of the new projects facilitated. 

“In addition, 157 trade declarations were secured by Wesgro to the value of about R6.8bn, resulting in 4,948 jobs,” he said.  

Masipa said the department, with its associated entities, recently presented their annual reports in the legislature. They highlighted:

  • the registration of 1,244 tourist guides;
  • the provision of tourism safety services to 400 beneficiaries;
  • 72 businesses received export-readiness support; and
  • the business support helpline recorded 336 cases, achieving a 93% resolution rate. 

“It is only through economic growth that we can achieve a sustainable improvement in the lives of our residents.”

TimesLIVE 


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