2017-07-13
Wesgro is proud to announce that our Agri-business Investment Unit (AIU) has secured committed investments into the Western Cape amounting to R150 million over the last four months.
These investments are expected to create over 500 jobs in the agri-business sector.
Supported by the Western Cape Department of Agriculture, the AIU has over the last three years secured investments in the province amounting to R1.56 billion. Its core aim is the promotion and economic growth and job creation in the agri-business sector, through attracting inbound foreign direct investment and facilitating the growth and expansion of already-established businesses.
“These latest investment numbers highlight the progress of our Project Khulisa growth strategy, through which we have selected agri-processing as a key focus sector for accelerated growth and job creation. We set ourselves the target of creating up to 100 000 additional jobs in this sector, and it is clear we are on the right track. This is excellent news for our economy, and speaks to the confidence businesses have in our province,” said Western Cape Minister for Economic Opportunities Alan Winde.
“This tremendous result demonstrates that there is confidence in the Western Cape economy, and that through show-casing the best the region has to offer, we can continue to attract investors and create jobs,” said Wesgro CEO Tim Harris.
“Our Agri-business Investment Unit is committed to exceeding our targets so that we can contribute to the growth of the agri-business sector. In quarter one of the 2017/18 financial year, it took 52 meetings with corporate entities and attended nine conferences/sector events. It also received one inward bound mission from Vietnam, focussing on suppliers of ostrich meat and nuts,” added Yaw Peprah, Wesgro's Chief Business Officer.
On the back of these positive results, Wesgro will be doubling down on opportunities in the sector.
"Over the next few months, the AIU is planning to raise the profile of the Western Cape as an agri-business investment destination through undertaking outward investment promotion missions to China, the United States, the Netherlands, and the United Kingdom. In addition, the AIU is looking forward to supporting the African Agri Investment Indaba, which will be held at the Cape Town International Convention Centre from 20 - 22 November. The unit also expects to host a range of inbound investor delegations from across the globe," concluded Peprah.
