Cape Town is regarded as one of the world’s most beautiful and inspiring cities. Situated at the southern tip of Africa, Cape Town and the Western Cape offer an attractive investment proposition for companies wishing to expand their operations into both the South African and African markets.
Cape Town is the engine of the Western Cape’s economy and is home to most of the province’s heavy and medium industries. The city is also quickly gaining recognition as the ideal location for local and international companies seeking opportunities in the rest of Africa. This only adds to the city’s reputation as a hub for business services, information technology, manufacturing and green energy.
Many global businesses have chosen the Western Cape as their destination of choice. Our infrastructure forms the gateway to the continent and good governance provides a stable business environment. A growing skills base offers a pool of young, energetic talent armed with the values of innovation and creativity, which are embedded in our business culture.
The Western Cape is an inspired place to do business, and we’d like to invite you to join our growing global economy by investing on our shores.
What does Wesgro do as an investment promotion agency?
An investment promotion agency aims to attract investment to a region, city, area or country, usually with the core functions of building its image, generating investment, managing projects and providing various services. The agency helps to introduce investors to local suppliers; provides useful statistics, data and business information; and offers practical support – for example, to secure permits or complete administrative requirements.
As the official tourism, trade and investment promotion agency for Cape Town and the Western Cape, Wesgro assists investors and businesses looking to branch out to the province.
Regardless of the sector that your company operates in, be it technology, agriculture or another sector, Cape Town and the Western Cape have all the elements necessary to make your investment a success. We are a region of unlimited potential, and this translates into unlimited opportunity.
Let Wesgro help you uncover these opportunities. Talk to us today.
The Western Cape’s economic landscape
- 2.7% economic growth is expected in 2019 in the Western Cape
- 14.7% increase in the Bureau for Economic Research business confidence index (Q4 2018)
- 3.97% increase in Western Cape exports (Q4 2018)
- Unemployment decreased by 1.1% (Q4 2018)
- The Western Cape has the lowest rural unemployment rate in the country at 15.7%
Why should you move to or set up your business in the Western Cape?
The Western Cape’s economic growth has been forecast to accelerate to 2.7% in 2019. It is expected that, until 2022, the economy will grow by 2.2% on average per year.
Only Gauteng, the country’s biggest province in terms of its contribution to national gross value added, has grown marginally faster than the Western Cape over the last decade. The average growth rate recorded in Gauteng from 2008 to 2017 was 2.2% a year, compared to 2.1% in the Western Cape and 1.8% nationally.
Gauteng currently outperforms the Western Cape due its significantly larger mining sector, while the consistently good performance of the Western Cape economy is largely the result of its services-oriented structure.
Why choose Cape Town?
- Cape Town has been ranked the top metropolitan municipality in South Africa when it comes to ease of doing business, according to the 2018 World Bank research report Doing Business in South Africa
- Cape Town is considered the start-up capital of Africa. Of the 742 emerging tech or tech-enabled companies surveyed as part of a 2015 study by PwC, 56% were headquartered in the Western Cape, of which the majority are based in Cape Town
- Cape Town-based companies account for the 10 most visited e-commerce websites in the country. In an industry that is strongly reliant on supply-side factors like the availability of ICT skills, and the prevalence of entrepreneurship, Cape Town has been able to carve out a competitive niche
Sectors of opportunity in Cape Town and the Western Cape
Wesgro’s reach in Cape Town and the Western Cape
- Wesgro has facilitated more than 100 direct investments since 2009
- In 2018, the Air Access team added three new airlines and four destinations to Cape Town, facilitating new routes and route expansions
- Wesgro has attracted investment of R11.6 billion over the past five years
Wesgro has facilitated 10 372 direct jobs over the past five years