Cape Town: The partnership programme of the business industry of the city has seen the increase in the jobs. In the programme the billions have been invested.
Reportedly, the funding partnerships with high-growth industry organisations in Cape Town have facilitated R25.4 billion. The programmes have eventually created 32,300 jobs in the city.
Cape Town generally provides funding to the organisations in several industries to drive investment promotion, research and develop skills for residents and SMMEs.
Mayor of the town – Geordin Hill-Lewis said that in the new budget of 2024-25 of ‘Building for Jobs’ their government is proposing more than R64 million capital in support to the partner organisations driving skills and job creation in high-growth industries, that includes call centres, tourism, manufacturing, the green economy and more.
Lewis stated that they have considered the money as a well spent and has given R25 billion in the investments that are facilitated by these organisations in just three years.
According to the Mayor, this is just one way they are growing investment and new jobs in Cape Town to help more people out of poverty and into work.
As per the sources, 363,000 jobs have been created in Cape Town since the beginning of this term of office in November 2021, according to the ‘StatsSA’.
He mentioned that the city government is further investing R40 billion in infrastructure over the next three years to enable economic growth that will include better roads, water and sanitation, electricity services and other facilities.
Member of the Mayoral Committee for Economic Growth – Alderman James Vos has also passed his statement and said that the special purpose of the city is vehicle partnership that directly created more than 32,000 jobs between July 2020 and February 2024 with 11,000 people, who were trained for work in the metro’s fast-growing industries.
Alderman Vos continued his statement and added, “Economic story of Cape Town continues to be one hope and confidence because not only does the city government deliver on its promise to build and maintain services and infrastructure that allow businesses and employees to get on with their work but we enact and include programmes that allow for the stimulation of jobs and investments.”
Alderman James Vos met with the SPVs and stated that each business development, job and upskilled person is an investment in Cape Town that helps more people to provide their families and further opens new paths of opportunity for communities.
He stated, “The distinctive model of backing these SPVs is deliberate towards the mission of achieving greater economic growth all across Cape Town.”
“Thanks to our support for business and workforce development, more Capetonians than ever before have the dignity of a job,” said James Vos.
He also shared the upcoming idea that they will expand on the projects and programmes in the forthcoming budget to continue building a stronger economy that supports more people and makes Cape Town the easiest place in Africa to do business.
SPV organisations funded by the City include:
- Wesgro, the investment promotion agency for Cape Town and the province that oversees projects such as Air Access and Cruise Cape Town
- The Western Cape Economic Development Partnership, which is administering the City’s growth coalition initiative
- The Greater Tygerberg Partnership which is administering a community-focused place-making project to stoke investment
- CapeBPO, which oversees programmes in the call centre industry
- UVU Africa operates technology-centred programmes such as Youth in Business for entrepreneurs
- BlueCape oversees the ocean economy
- GreenCape has facilitated R1,7bn in green economy investments
- The Cape Clothing and Textile Cluster (CCTC) runs initiatives such as the Business Accelerator Programme to assist small clothing and textile businesses in Cape Town to become suppliers to large retailers.
- The Craft+Design Institute (CDI) works with businesses and designers in the clothing and textile industry.