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WC grape industry provides 29,000 jobs

The table grape industry provides over 29,000 direct jobs to the region each year. These figures were shared at the South Africa Table Grape Industry Annual General Meeting, which was held last week. Alan Winde, Minister of Economic Opportunities, addressed the AGM.

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Saldanha Bay IDZ Licencing Company Bill finalised

The SB IDZ Licencing Company Bill was at its final stage and the DA in the Western Cape says it is pleased with the progress that has been made by the Standing Committee on Economic Opportunities, Tourism and Agriculture in the Western Cape, together with all stakeholders. The oil and gas service sector forms part of the Western Cape’s strategic objectives and aims to increase direct jobs by more than 21,000 within the next five years.
 
The draft of the SB IDZ Licencing company Bill 2015 was referred to the Standing Committee on 28 February 2016 for consideration and reporting.  Public hearings were conducted in Saldanha Bay and Cape Town on the 1st and 2nd of March. 2016. The Standing Committee deliberated the contents of the Bill and took into consideration both, written and verbal inputs made by all stakeholders. The informal and formal consideration of the Bill was concluded by the Standing Committee on 22nd March 2016.  
 
This bill deals with only the essential provisions and is not isolated in its existence, but fits into a whole host of national legislation -more specifically the Special Economic Zone Act, the Companies Act and the PFMA. Without this Bill, the SB IDZ cannot transact or conclude its property agreements with the IDC and TNPA, nor can it transact with SARS.
 
The West Coast District economy contributes to 32% of the Western Cape GDP in 2013 and the fourth largest employer within the Western Cape. The development of the SB IDZ forecasts R53,4bn cumulative contribution to the WC GGP by the end of 2020, with an approx. R8,2bn in cumulative taxes back to the national fiscus. 
 
As Chairperson of the Standing Committee on Economic Opportunities, I would like to extend my gratitude to everyone involved in the process for their continued dedication and hard work throughout the bill process.  The DA led Western Cape Government continues to lead the way in youth development and affording the people of the Western Cape endless opportunities.
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Banks to invest billions in agri-parks

Rural Development and Land Reform Minister, Gugile Nkwinti, says the Banking Association of South Africa is to invest R1bn every year in agri-parks to revive the rural economy. The minister said this when he chaired the Economic Sectors, Employment and Infrastructure Development Cluster briefing at the Imbizo Centre in Cape Town. The announcement comes after government announced that it would invest R2bn to support rural economies and create industries in those areas.

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R23bn set aside to support new industrialists

Economic Development Minister Ebrahim Patel said R23bn will be set aside over the next five years to fund “new players” as government makes a big push to industrialise the economy, at his department’s Budget Vote at the National Assembly yesterday. He continued that the fund would contribute towards job creation, industrialisation and transformation and go a long way in eradicating inequality and poverty.

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Cape industry reinforced for 2015

The past year has been a most trying period for industrial concerns throughout SA – their very viability threatened by a combination of higher energy and labour costs as well as a weak rand and brittle economic conditions locally and abroad.

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