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Monday, February 17, 2025

CITY: Billions in investments and over 15 000 jobs were directly secured in 2024

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The City of Cape Town says over R6,4 billion in investments and more than 15,000 jobs were directly secured in 2024 through programmes initiated by the City’s Special Purpose Vehicles (SPVs).

 

Vos added, “These results highlight the success of our targeted efforts to create an environment that attracts investments and the employment opportunities that come with that.”

 

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Clifton beach. IMAGE: Cape Town Tourism

The City of Cape Town says over R6,4 billion in investments and over 15 000 jobs were directly secured in 2024 through programmes

 

 

The Mayoral Committee Member for Economic Growth, Alderman James Vos says the City supports 11 Special Purpose Vehicles (SPVs) across key high-growth industries, including technology, clothing and textile manufacturing, business process outsourcing (BPO) and marine manufacturing.

 

“Through our work with these SPVs, we are driving business growth, creating jobs, and equipping residents with the skills needed to thrive in key industries,” he added.

 

The City has given an update on their 2024 numbers:

R 6 445 489 930 in investments secured
15 763 jobs were created in sectors including BPO, technology, renewable energy, and clothing and textile manufacturing
2 987 people trained to meet industry demands and equip residents for meaningful employment

 

The MMC elaborated, “This is the kind of progress that builds a stronger, more inclusive economy for all.”

 

Vos says SPVs, funded by the City, are instrumental in driving growth in these sectors. He says by promoting innovation, unlocking opportunities, and supporting workforce development, they are helping to ensure Cape Town remains a competitive and inclusive business hub.

 

More direct flights into Cape Town from October
Cape Town Mayor, Geordin Hill-Lewis and Alderman James Vos, the Mayoral Committee Member for Economic Growth.

Expanding opportunities in 2025

 

The Alderman has also outlined plans to build on these successes. He says this includes refreshing the City’s investment incentives policy and further expanding business growth services into Cape Town’s industrial nodes.

 

MORE ABOUT: Invest Cape Town 

 

Vos added, that in 2025, they will focus on continuing to align their policies and programmes with the needs of investors. They will also endeavour to continue to drive sustainable growth. He says by expanding their investment facilitation services into industrial areas, they will support economic development in areas where it’s most needed.

READ MORE: 46 000 jobs created in the Western Cape over last quarter

Merentia Van Der Vent
Merentia Van Der Vent
Merentia joined the media world in 1996 and in 2001, she took her first steps in the broadcasting world. In her free time, she likes to go on adventures in the city. She also likes to learn new dances, not that she is any good at that.

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