16022475 - the city that never sleeps , cape town.

The Western Cape is reported to have attracted more than R100-billion to the South African economy in the form of direct foreign investment. This announcement was made by the province’s Premier Alan Winde during the State of the Province Address (SOPA) on Thursday, July 18.

“We have a proven track record in creating jobs. Since the Democratic Alliance (DA) was elected in 2009, the province has attracted R100-billion in foreign direct investment,” he said. “We have generated R1-billion in savings for businesses by reducing ‘red tape’ in the Western Cape.”

According to Winde, Cape Town has also been named as sub-saharan Africa’s top financial centre, and is also establishing itself as a technological hub on the continent. “In the last decade, our tourism industry has boomed, with tourists bringing billions into our economy. We are also the events capital of Africa, and look forward to hosting the netball World Cup in 2023,” he said.

Provincial government has generated more than 500 000 jobs in the past decade, resulting in the Western Cape having the lowest unemployment rate in the country. Provincial goverment has also spent more than R483-million on bursaries, learnerships and internships since 2009, presenting opportunities for almost 16 000 youth in the period between then and now.