Cape Town: The City has opened the new Invest Cape Town Centre, which is a multi-use hub for economic activity, showcasing investor support initiatives, Cape-made products, and projects that put spotlight on Cape Town as a leading African business city.
Reportedly, the centre was opened at City Hall this week by Mayor Geordin Hill-Lewis and Member of the Mayoral Committee for Economic Growth – Alderman James Vos.
Mayor Geordin Hill-Lewis said that they are pleased to open this hub as part of the commitment to bring more job creating investment to Cape Town. He added that this is a place where investors can immerse themselves in all things, and they are looking forward to many fruitful economic engagements in this space.
They are also glad to support locals by showcasing proudly Cape Town product ranges and would like to invite businesses to take advantage of this opportunity.
Considering this, Alderman James Vos said that the centre will be activated for networking events and engagements with investors, high-level delegations and stakeholders. The idea was first conceptualised during a City trade mission to Dubai, Cape Town’s sister city.
According to Vos, during that visit, he took a tour of Dubai’s Economic Development Centre, which displayed locally produced goods and offered support to regional manufacturers. Then they brought the concept back and tailored it for Cape Town.
The opening of this Invest Cape Town Centre is the City yet again putting their backing for local businesses into action. To the knowledge, this is a first for South Africa, no other municipality in South Africa that has a dedicated space where their economic story gets told in such a tangible way.
The hub’s display area for Cape-made products will feature items on a rotational basis. James Vos said that they are planning to showcase a range of Capetonian businesses at the Centre. There is no cost to get products featured, as the goal is to highlight Cape Town’s creators.
Alderman Vos further stated that this dedicated space complements the City’s broader initiatives for businesses, from skills development to productivity improvements. The Economic Growth team has developed various mechanisms of support for businesses of different sizes or in particular industries primed for growth.
Vos marked that there is their Business Hub for small businesses and entrepreneurs, the Place Marketing and Tourism Unit, the Investment Facilitation Unit and the industry-specific Special Purpose Vehicles. Under our Business Retention and Expansion programme, they assist companies in planning operations and expedite development.
The Productivity Efficiency Programme helps distressed SMMEs improve financially. James and their team also support manufacturers through the Cape Trade Portal, connecting exporters to buyers and resources. It has grown exponentially in registering users and products since starting in 2022.