In 2018 President Cyril Ramaphosa hosted an investment conference nationally as part of a grand plan to attract R1.2 trillion to revive our country’s economy, to wide success in the form of R134 billion worth of investments into our economy over a five-year period.
The Eastern Cape Province will receive a sizeable share of these investments. Among these is, the R438 million injection by SAB in their Nelson Mandela Bay plant, the R10 billion investment by Mercedes Benz SA in their East London plant, the R3.4 billion by Aspen Pharmacare in their Nelson Mandela Bay Plant, R663 million investment by Nestle, the R1 billion investment by Yekani Technologies through the Black Industrialist Programme and R900 million by MultiChoice at the ELSEZ. These investments were preceded by R6.1 billion VW capital expenditure in their facilities in Uitenhage, and the R11 billion investment by BAIC at the Coega SEZ. Despite almost of all of these investments being confined to the Buffalo City and Nelson Mandela Metros, these investments provide us with a sound platform to grow our manufacturing sector and create jobs for our people.
During the Eastern Cape Investment Conference, the province present a proposed Investment Book. Inputs are solicited from stakeholders, so that together we can rally behind it and use it to attract investments in our province.