Investment worth R691-million and 820 jobs: that’s what Wesgro says it brought into the Western Cape in the first quarter of the financial year.
The tourism‚ trade and investment promotion agency‚ said more investments were in the pipeline‚ and visits were planned to China‚ Hong Kong‚ Canada‚ the US and the UK.
On Wednesday‚ Wesgro will launch an economic action plan for Cape Town and the Western Cape following credit rating downgrades.
“These investment figures suggest that our efforts to offset the effects of the recent string of credit ratings downgrades are literally paying off‚” said Wesgro CEO Tim Harris.
“We have a series of initiatives on the way to maintain this momentum ... and in the second half of this year we will launch the Cape Investor Centre in collaboration with the dti's InvestSA initiative.”
The agency’s investment promotion unit brought in four major deals that will contribute R591-million to the Cape economy and create 370 jobs. Its agriculture investment unit secured a local injection of R100-million that will create 450 jobs in agri-processing.
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