R550m injected into the city for growth

2019-05-09 06:01

The City of Cape Town’s economy growth is in the “fast lane” after an injection of R550m to special purpose vehicles (SPVs).

This was announced by Mayco member for economic opportunities and asset management James Vos after a quarterly report on the performance of Wesgro and the City’s special purpose vehicles (SPVs) was released.

“In addition, 404 of our residents who are most in need benefitted from skills development opportunities offered by the SPVs during this time,” says Vos.

The City’s enterprise and investment department provides funding to SPVs such as GreenCape, Business Process Enabling South Africa (BPeSA) and Wesgro which is directed towards stimulating key sectors of the city’s economy. The business process outsourcing, renewable energy, technology, medical waste and real estate sectors saw the most notable benefits from these efforts as reflected in the latest quarterly report.

Vos says this funding has contributed to the creation of a positive, enabling environment to do business, for skills development and for the promotion of Cape Town as a trade and investment destination.

“I am particularly proud of the work being done by BPeSA Western Cape. This organisation facilitated over R83.2m of the total investment, leading to 347 new job opportunities being created in Cape Town for the same period. Since the beginning of the 2018/19 financial year this SPV has performed remarkably well in facilitating over R500m worth of investment which has contributed to the creation of 2 398 jobs,” says Vos.

Other priority sectors that drive economic growthu include information communication and technology; business process outsourcing and off-shoring; the green economy; craft and design; clothing and textiles; fashion; and the sectors promoted by Wesgro such as agribusiness and niche engineering and manufacturing sectors.

The City of Cape Town’s economy growth is in the “fast lane” after an injection of R550m to special purpose vehicles (SPVs).

This was said by Mayco member for economic opportunities and asset management James Vos after a quarterly report on the performance of Wesgro and the City’s special purpose vehicles (SPVs) was released.

“In addition, 404 of our residents who are most in need benefitted from skills development opportunities offered by the SPVs during this time,” says Vos.

The City’s enterprise and investment department provides funding to SPVs such as GreenCape, Business Process Enabling South Africa (BPeSA) and Wesgro which is directed towards stimulating key sectors of the city’s economy. The business process outsourcing, renewable energy, technology, medical waste and real estate sectors saw the most notable benefits from these efforts as reflected in the latest quarterly report.

Vos says this funding has contributed to the creation of a positive, enabling environment to do business, for skills development and for the promotion of Cape Town as a trade and investment destination.

“I am particularly proud of the work being done by BPeSA Western Cape. This organisation facilitated over R83.2m of the total investment, leading to 347 new job opportunities being created in Cape Town for the same period. Since the beginning of the 2018/19 financial year this SPV has performed remarkably well in facilitating over R500m worth of investment which has contributed to the creation of 2 398 jobs,” says Vos.

Other priority sectors, defined as such due to their potential to grow the City’s economy and to contribute to job creation, include information communication and technology; business process outsourcing and off-shoring; the green economy; craft and design; clothing and textiles; fashion; and the sectors promoted by Wesgro such as agribusiness and niche engineering and manufacturing sectors. “Overall, I am very pleased with the work that is under way to cement the City’s reputation as one of the go-to destinations on the continent for investment and economic growth, and hope to build on this during my term of office,” Vos says.

The City of Cape Town’s economy growth is in the “fast lane” after an injection of R550m to special purpose vehicles (SPVs).

This was said by Mayco member for economic opportunities and asset management James Vos after a quarterly report on the performance of Wesgro and the City’s special purpose vehicles (SPVs) was released.

“In addition, 404 of our residents who are most in need benefitted from skills development opportunities offered by the SPVs during this time,” says Vos.

The City’s enterprise and investment department provides funding to SPVs such as GreenCape, Business Process Enabling South Africa (BPeSA) and Wesgro which is directed towards stimulating key sectors of the city’s economy. The business process outsourcing, renewable energy, technology, medical waste and real estate sectors saw the most notable benefits from these efforts as reflected in the latest quarterly report.

Vos says this funding has contributed to the creation of a positive, enabling environment to do business, for skills development and for the promotion of Cape Town as a trade and investment destination. “I am proud of the work done by BPeSA Western Cape. They facilitated over R83.2m of the total investment, leading to 347 new job opportunities being created in Cape Town for the same period. Since the beginning of the 2018/19 financial year this SPV has performed remarkably well in facilitating over R500m worth of investment which has contributed to the creation of 2 398 jobs.”

The City of Cape Town’s economy growth is in the “fast lane” after an injection of R550m to special purpose vehicles (SPVs).

This was said by Mayco member for economic opportunities and asset management James Vos after a quarterly report on the performance of Wesgro and the City’s special purpose vehicles (SPVs) was released.

“In addition, 404 of our residents who are most in need benefitted from skills development opportunities offered by the SPVs during this time,” says Vos.

The City’s enterprise and investment department provides funding to SPVs such as GreenCape, Business Process Enabling South Africa (BPeSA) and Wesgro which is directed towards stimulating key sectors of the city’s economy. The business process outsourcing, renewable energy, technology, medical waste and real estate sectors saw the most notable benefits from these efforts as reflected in the latest quarterly report. Vos says this funding has contributed to the creation of a positive, enabling environment to do business, for skills development and for the promotion of Cape Town as a trade and investment destination. “I am particularly proud of the work being done by BPeSA Western Cape. This organisation facilitated over R83.2m of the total investment, leading to 347 new job opportunities being created in Cape Town for the same period. Since the beginning of the 2018/19 financial year this SPV has performed remarkably well in facilitating over R500m worth of investment which has contributed to the creation of 2 398 jobs,” says Vos.

Vos says he is very pleased with the work that is under way to cement the City’s reputation as one of the go-to destinations.

The City of Cape Town’s economy growth is in the “fast lane” after an injection of R550m to special purpose vehicles (SPVs).

This was said by Mayco member for economic opportunities and asset management James Vos after a quarterly report on the performance of Wesgro and the City’s special purpose vehicles (SPVs) was released.

“In addition, 404 of our residents who are most in need benefitted from skills development opportunities offered by the SPVs during this time,” says Vos.

The City’s enterprise and investment department provides funding to SPVs such as GreenCape, Business Process Enabling South Africa (BPeSA) and Wesgro which is directed towards stimulating key sectors of the city’s economy. The business process outsourcing, renewable energy, technology, medical waste and real estate sectors saw the most notable benefits from these efforts as reflected in the latest quarterly report.

Vos says this funding has contributed to the creation of a positive, enabling environment to do business, for skills development and for the promotion of Cape Town as a trade and investment destination.

“I am particularly proud of the work being done by BPeSA Western Cape. This organisation facilitated over R83.2m of the total investment, leading to 347 new job opportunities being created in Cape Town for the same period. Since the beginning of the 2018/19 financial year this SPV has performed remarkably well in facilitating over R500m worth of investment which has contributed to the creation of 2 398 jobs,” says Vos.

Other priority sectors, defined as such due to their potential to grow the City’s economy and to contribute to job creation, include information communication and technology; business process outsourcing and off-shoring; the green economy; craft and design; clothing and textiles; fashion; and the sectors promoted by Wesgro such as agribusiness and niche engineering and manufacturing sectors.

“Overall, I am very pleased with the work that is under way to cement the City’s reputation as one of the go-to destinations on the continent for investment and economic growth, and hope to build on this during my term of office,” Vos says.

The City of Cape Town’s economy growth is in the “fast lane” after an injection of R550m to special purpose vehicles (SPVs).

This was said by Mayco member for economic opportunities and asset management James Vos after a quarterly report on the performance of Wesgro and the City’s special purpose vehicles (SPVs) was released.

“In addition, 404 of our residents who are most in need benefitted from skills development opportunities offered by the SPVs during this time,” says Vos.

The City’s enterprise and investment department provides funding to SPVs such as GreenCape, Business Process Enabling South Africa (BPeSA) and Wesgro which is directed towards stimulating key sectors of the city’s economy.

The business process outsourcing, renewable energy, technology, medical waste and real estate sectors saw the most notable benefits from these efforts as reflected in the latest quarterly report.

Vos says this funding has contributed to the creation of a positive, enabling environment to do business, for skills development and for the promotion of Cape Town as a trade and investment destination.

“I am particularly proud of the work being done by BPeSA Western Cape. This organisation facilitated over R83.2m of the total investment, leading to 347 new job opportunities being created in Cape Town for the same period. Since the beginning of the 2018/19 financial year this SPV has performed remarkably well in facilitating over R500m worth of investment which has contributed to the creation of 2 398 jobs,” says Vos.

Other priority sectors, defined as such due to their potential to grow the City’s economy and to contribute to job creation, include information communication and technology; business process outsourcing and off-shoring; the green economy; craft and design; clothing and textiles; fashion; and the sectors promoted by Wesgro such as agribusiness and niche engineering and manufacturing sectors.

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