City hosts roundtable with business leaders on green economy

01 August 2023

Alderman James Vos, the Mayoral Committee Member for Economic Growth, this week hosted a high-level roundtable with corporate leaders, small business owners, and green economy roleplayers to give an update on new developments in the metro and opportunities in the sector.

In opening the event, Alderman Vos noted that the green economy was focused on the development of a sustainable and inclusive economic environment.

'This is a sector in which we are required to be cognisant of and ready to meet the challenges we are facing right now, including energy provision and climate change. It's about an economy that is future-fit and has a place for all communities. This is why the City proudly supports GreenCape's GreenPitch Challenge in which innovators and entrepreneurs bring their best business ideas to the table for some big prizes. I understand that the competition at this year's pitching session was fierce, and the quality was outstanding,' he said. 

The gathering welcomed leaders from corporate giants, Cape Town Tourism representing its 1 000+ members, as well as players in the environmental and renewable energy space, including the City's Special Purpose Vehicle in the sector, GreenCape.

'There has never been a more opportune time for Cape Town to capitalise on the demand for renewable energy with the sector in 2022 attracting the highest total capital investment globally, with a value of $343,6 billion across 527 projects. This is important to note because it affects multiple industries, such as technology, waste management, transportation and manufacturing,' said Alderman Vos.

Cape Town has become a continental leader in the green economy, he noted, thanks to the City's ongoing work with GreenCape which helped to facilitate R1,733 billion in investments between July 2022 and June 2023. 

'GreenCape is thrilled to be supporting the accelerated development of the green economy. Events like this allow some of the most ambitious green companies to meet, to discuss shared challenges and ultimately to create economic development and growth in a green economy,' said Mike Mulcahy, CEO: GreenCape.

'In the next year, we are going to expand our investment campaigns of Cape Town as a green energy hub while extending skills development opportunities to more communities and small businesses. With these projects, we are cognisant of the environmental and social needs of the metro as well as the investment opportunities open to it. By fostering connections between the public and private sector, various businesses, and across industries, we can realise our goal of creating a cleaner, greener future for the Mother City,' said Alderman Vos.

Published by:
City of Cape Town, Media Office