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Coega SEZ front and centre at EC Investment Conference - published 21 Nov 2022

Coega SEZ front and centre at EC Investment Conference

Left to right: Faiyaaz Ally, Tshwane Special Economic Zone Programme - Project Manager, DEDEAT MEC, Honourable Mlungisi Mvoko, CDC CEO Khwezi Tiya, and CEO Office Manager, Nomzamo Kolo in front of the CDC’s exhibition stand at the Eastern Cape Investment Conference in November 2022

 

 

Gqeberha, South Africa, 21 November 2022 - Last week, on 16 November, the Coega Development Corporation joined fellow government entities and private sector organisations at the East London International Convention Centre for the annual Eastern Cape Investment Conference. The Conference aimed to recognise and acknowledge new investments pledged within the province. For the Coega Development Corporation (CDC), developer of the Coega Special Economic Zone (SEZ), and driver of socio-economic development throughout the region, it was a welcomed opportunity to further engage with potential investors on the SEZ’s value proposition and position its infrastructure development and investment projects in the Zone, including Energy - Gas-to-Power, Business Process Outsourcing, Manufacturing, and Aquaculture, to mention but a few.

Coega’s exhibition stand was visited by potential investors to explore investment opportunities in the Eastern Cape, with the Coega SEZ as a preferred investment destination, gateway to continental and world markets, and leading SEZ in Africa. On the official programme, Tando Mhlobiso of Mhlobiso Concrete, recounted his journey with Coega from SMME Programme member to SEZ investor. The latter is one example of the type of development the CDC strives to champion and replicate throughout the province.

With an emphasis on investment as a key lever for driving sustainable economic development, the Conference enabled provincial stakeholders and investors to highlight launched and planned investment projects, showcase the post-pandemic provincial investor environment, and demonstrate the Eastern Cape’s competitive value proposition. The province’s value proposition comprises, as highlighted by the Nelson Mandela Bay Municipality, trade and market linkages, pools of local talent, investment-ready property, and attractive business incentives, amongst other areas of value.

Recent Eastern Cape investments amounting to R46.08b were announced during the Conference including the Shoprite Distribution Centre worth R1.5b, Tshedza Pictures CC worth R85m, Transnet Port of Ngqura worth R1.59b, Benteler worth R168m, SunFarming worth R60m, the Sanaha Property Development Company worth R542m, Sanral worth R7.23b, and Aqora Lithium Battery worth R34.4b. Coega related investments that were announced include Benteler, which is currently under construction, as well as the planned Hive Hydrogen Green Ammonia project.

According to Eastern Cape Premier, the Honourable Oscar Mabuyane, the province will continue advancing investment in large scale economic infrastructure to stimulate economic growth and job creation. “You need to increase the level of infrastructure investment – because infrastructure is a key enabler to many other industries that are labour absorbing,” shared CDC CEO Khwezi Tiya during an SAFM radio interview at the Conference.

Coega, future home to largest green ammonia plant in the world as well as home to some of the largest foreign direct investments in the country, strives to develop an investment project pipeline aligned to the global shifts driving industrial transformation toward resource efficient and socially responsible investments, with a keen eye toward environmental sustainability.

As stated by Deputy Minister of the Department of Trade, Industry and Competition, Mr. Fikile Majola, Coega SEZ continues to attract a number of large multinational corporations that have brought with them not just employment opportunities, but innovations and technology, management and strategic skills, local supplier linkages and social investments in surrounding communities.

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