The 2024 edition of Eastern Cape Business is the 17th edition of this successful publication that, since its launch in 2006, has established itself as the premier business and investment guide for the Eastern Cape.
The Eastern Cape Development Corporation (ECDC) is supporting this issue of the journal, both in providing up-to-date information for editorial use and in sharing information about its activities. It will also distribute the journal through its regular channels.
While the Eastern Cape has deservedly earned the title of South Africa’s wind energy province, there are other developments taking place in East London, the Coega SEZ and near Humansdorp that promise to give new meaning to new energy. Vanadium batteries, green ammonia and green hydrogen are among the aspects that form part of the Special Feature on energy that appears in this journal.
The centenary of the massively important automotive industry is celebrated with reference to Ford Motor Company’s start in the “Auto City” of Port Elizabeth, as it was known, in 1924. The province’s two Special Economic Zones are attracting investors and exports are on an upward trajectory, which will be helped by upgrades of the Eastern Cape’s three ports.
Overviews are provided on the other key economic sectors of the province and the potential of the oceans economy and the prospects of oil and gas for this coastal province are examined. The major business chambers in the province have made contributions to the journal and the newest chamber, the Maritime Business Chamber, which has its headquarters a short distance up the hill from the Port of Gqeberha, makes its second appearance in the journal.
Provincial Investment
Provincial Investment Outlook At the 2023 EasternCape Investment Conference, R127-billion worth of investments were declared by 21 companies, providing a boost to economic growth across several sectors and multiple regions. The province has attracted investments valued at R173-billion into the EasternCape economy since 2019. These investments reflect the province’s commitment to the attraction of sustainable foreign and local direct investment. These new investment commitments into the EasternCape represent a pivotal moment in the province’s economic trajectory. The investments were announced by the province at the EasternCape Investment Conference hosted by the ECDC as a platform to attract investment and to showcase investor-attraction initiatives. The conference serves as a platform: • to promote economic growth, attract investors and showcase the immense investment potential of the province • to drive investor messaging and investor projects in a coordinated manner across the three spheres of government • for government, business leaders, entrepreneurs and investors to collaborate, network and explore opportunities in various sectors The province has hosted three successful investment conferences, in 2019, 2022 and 2023. The outbreak of the Covid-19 pandemic led to the postponement of the conferences in 2020 and 2021. The key objective of the investment conference is to showcase the strides the province has made with regards to investor coordination and facilitation across provincial, district and local spheres. Priority is given to sectors and industries that are poised to transform the structure of the economy towards inclusive development, by: • mobilising attraction efforts towards qualitative investment projects • directing investment into strategic and labourintensive sectors to address under-investment • developing new economic nodes and value chains • positioning the EasternCape as a preferred investment destination • promoting investment facilitation and aftercare services EASTERN CAPE BUSINESS 2024 2
national roads agency, Sanral declared a R7.2-billion investment into road facilities, improvements, maintenance and road network strengthening across the EasternCape. • Integrated national freight and logistics giant, Transnet, declared a R1.59-billion investment into the Port of Ngqura. • In the property development sector, Sanaha Property Development declared a R542- million investment into retail property development projects, for lease and sale of land for the construction of 59 Boxer Stores. Investors in the renewable energy sector in the EasternCape, particularly the wind power sector, have been building energy facilities in the province for more than a decade. At the 2022 EasternCape Investment Conference, 10 investor declarations worth R46-billion were announced. These investments were: • Shoprite, retail and logistics sector. South Africa’s largest supermarket group by market capitalisation declared a R1.5-billion investment for the expansion of its distribution centre in Nelson Mandela Bay. • BENTELER Automotive, automotive component manufacturer, declared a R168-million investment into an approximately 9 000m² extension of its Kariega plant and a new hot-forming line in Kariega in Nelson Mandela Bay. • In the film sector, production company, Tshedza Pictures declared an R85-million investment for the production of the telenovela, Gqeberha: The Empire, which was produced in Nelson Mandela Bay. • Leading supplier of material handling and industrial equipment, Toyota Material Handling, declared a R60-million investment for the operationalisation of its automotive material-handling project. • In the construction sector, Nelson Mandela Bay’s Mhlobiso Concrete declared a R9.5-million investment into the establishment of a sustainable ready-mix concrete facility. • In the public infrastructure investment sector, At the 2023 EasternCape Investment Conference, R127-billion worth of investments were declared by 21 companies. These investments will inject substantial capital into the provincial economy, leading to a cascade of positive effects that will benefit citizens, businesses and the overall economic landscape. The investment declarations represent a diverse array of sectors and span a significant portion of the EasternCape’s districts, providing extensive economic development prospects. • In the oil and gas sector, the TAMSA Holdings and Central Energy Joint Venture is investing R13.6-billion for the construction of an on-shore Liquified Natural Gas storage and regasification terminal in Nelson Mandela Bay. • South African Breweries, a subsidiary of the world’s largest beer producer AB InBev, is investing R510-million in the manufacturing sector for the extension of its brewery in Nelson Mandela Bay. • In the tourism sector, Mkambati Matters, located in Mkambati Game Reserve, is investing R250-million into an ecotourism lodge development in the OR Tambo District Municipality. • Independent power producer, Parson Power Park, is investing R2.7-billion in the energy PHOTO: Cennergi Services
