Following today’s historic election result in the UK, Wesgro has scheduled an investor-focused event in London later this month. The event will be part of a mission, led by Western Cape Premier Helen Zille, to help shore up the investment case for South Africa, and protect our trading relationship.
This follows last month's Wesgro mission to the UK led by Western Cape Minister of Economic Opportunities Alan Winde that focussed on securing our exports post-Brexit, and providing certainty to UK investors.
The UK is the second largest buyer of Western Cape exports - which were dominated by agricultural and agro-processed goods, including grape wines, grapes and citrus fruits.
In addition, the UK has been the source of more investment projects than any other market over the past decade. Between 2003 and 2016 a total of 82 projects were recorded from the UK to the Western Cape, representing a total capital investment of R16.8 billion, mainly in business services, financial services, and industrial machinery & equipment.
"Today's election result introduces significant uncertainty to the UK's economic future. At this time it is very important for us to keep our trade and investment relationship strong. If we don't, we will put many of our jobs at risk. This is why Wesgro is supporting our region's leaders in a programme of engagement with the UK to secure new FDI and export growth," said Wesgro CEO Tim Harris.
For more info on the UK and its economy, download our Research Department's fact sheet here.
