Cape Town: Member of the Mayoral Committee for Economic Growth and Tourism – Alderman James Vos announced about the programme of action and deliverables of the Strategic Business Partners. He made the announcement at an event hosted by the Economic Development and Investment Department, last week.
Reportedly, the City of Cape Town partnered with Special Purpose Vehicles (SPVs) in various sectors, remaining a key driver, to strategically help grow the city’s economy.
The city supports 11 SPVs, who represent various sectors from technology to clothing and call centres. It is contributed by all to upskill the people, by creating employment and growing economy of the Cape Town.
Over the last five years, the partnerships have collectively made the economic contributions to Cape Town’s economy amounting to R45 billion and creating 50,000 employment opportunities.
Alderman James Vos further said that the city Cape Town supports SPVs to help in driving the skills development, create job opportunities and stimulate economic growth in the city. He mentioned that it is important to emphasise the guiding principle: “People, Places and Products”.
It is mainly focused on empowering individuals, supporting diverse business locations and showcasing top products of Cape Town.
Vos further explained that the City funds SPVs to enhance workforce readiness in the various sectors, to develop skills, drive innovation and to attract new investments to Cape Town, with the aim of growing Cape Town’s economy.
According to him, the department is committed to support the SPVs. All the SPV projects have been carefully considered and formulated to respond to investor sentiments for specific sectors while upskilling the workforces needed for those specific sectors.
Additionally, to the broader initiatives, including the Ease of Doing Business Index, SMME support programmes and streamlined property transactions, all aimed at creating a more business-friendly environment.
He cleared that each business development, job and upskilled person is an investment in Cape Town so they will continue to work collectively with the stakeholders to help in upskilling people and grow economy of Cape Town.