City’s partnerships help drive Cape Town’s growing economy
12 August 2024
Last week, the City’s Mayoral Committee Member for Economic Growth, Alderman James Vos, announced the programme of action and deliverables of the Strategic Business Partners, at an event hosted by the City’s Economic Development and Investment Department. The City’s partnerships with Special Purpose Vehicles (SPVs) in various sectors remain a key driver to strategically help grow Cape Town’s economy.
The City supports 11 Special Purpose Vehicles (SPVs) representing various sectors, from technology to clothing and call centres, which all contribute to upskilling people, creating employment and growing Cape Town's economy.
Over the last five years, these partnerships have collectively made economic contributions to Cape Town's economy amounting to R45 billion and creating 50 000 employment opportunities.
'The City supports SPVs to help drive skills development, create job opportunities, and stimulate economic growth in our city. It is important to emphasise the guiding principle: "People, Places, and Products" and that the City is focused on empowering individuals, supporting diverse business locations, and showcasing Cape Town's top products.
'The City funds SPVs to enhance workforce readiness in the various sectors, to develop skills, drive innovation and to attract new investments to Cape Town, with the aim of growing Cape Town's economy,' said the City's Mayoral Committee Member for Economic Growth, Alderman James Vos.
These are the City's SPV partners and their role in each sector:
- Marine Manufacturing and Boat Building (Blue Cape):
Cape Town leads globally in offshore catamaran production, exporting a vessel daily and driving job creation and innovation.
UVU Africa enhances the tech sector by supporting startups and advancing digital infrastructure.
- Business Process Outsourcing (CapeBPO Call Centres):
CapeBPO has facilitated over 10 000 jobs in the past year alone, positioning Cape Town as a significant player in the call centre industry.
- Investment Promotion (Wesgro):
Wesgro plays a key role in attracting investment and expanding market reach.
This sector enhances connectivity and cruise tourism, opening new travel and trade opportunities.
Promotes Cape Town as a premier destination for conferences, bolstering business tourism.
- Craft Design (Craft Design Institute):
Supports local talent and promotes unique designs, enriching the city's creative economy.
- Clothing Production (Cape Clothing and Textile Cluster):
Drives innovation and sustainability in the clothing industry.
- Green Technology (Green Cape):
Leads efforts in sustainable development and green technology, paving the way for a greener future.
- Greater Tygerberg Partnership (GTP):
Focuses on placemaking initiatives to enhance Bellville as a desirable place to live, work, and do business.
- Western Cape Economic Development Partnership (WCEDP):
Improves the performance of the city and regional economic development system in support of the OneCape2040 goal of creating a resilient, inclusive and competitive city and region.
'This department is committed to supporting the SPVs. All the SPV projects have been carefully considered and formulated to respond to investor sentiments for specific sectors while upskilling the workforces needed for those sectors. This is in addition to our broader initiatives including the Ease of Doing Business Index, SMME support programmes, and streamlined property transactions, all aimed at creating a more business-friendly environment,
'Each business development, job and upskilled person is an investment in Cape Town so we will continue to work collectively with stakeholders to help upskill people and grow Cape Town's economy,' said Alderman Vos.
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Published by:
City of Cape Town, Media Office
