9 months ago

Mpumalanga Trade & Investment Profile 2023

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Companies in a wide range of sectors are already invested in Mpumalanga – and are ramping up the commitments with new investments. The 2023 Mpumalanga Investment Prospectus presents exciting opportunities for investment in Mpumalanga, including information about key sectors of the economy, business opportunities, government policies and programmes, and private sector success stories. The Mpumalanga Economic Growth Agency (MEGA) is the official Economic Development Agency for the Mpumalanga Provincial Government and is committed to making the process of investing in Mpumalanga or starting a business in the province easy.


THE PERFECT LAUNCH PAD FOR AFRICA The African Continental Free Trade Area could revolutionise African trade: Mpumalanga is the perfect launch pad for manufacturers and exporters. start of trading under the AfCFTA Agreement from the beginning of 2021. Further meetings have been held to take the process forward in terms of details and practical measures. The nations covered by AfCFTA have an estimated combined GDP of .5-trillion and a population of over 1.2-billion. In terms of population, it will be the largest free trade area in the world. The AfCFTA envisages the Instrument of ratification deposited Parliamentary approval received or pending AfCFTA Agreement signed AfCFTA Agreement not signed The African Continental Free Trade Area (AfCFTA) has been agreed on by almost all African nations and holds the potential to change the nature and size of trading on the continent in profound ways. Mpumalanga Province, as a strategically-positioned region with a dynamic manufacturing sector and excellent logistics and infrastructure, provides the perfect launch pad for investors looking to take advantage opportunities that will be created by the AfCFTA Agreement. The burgeoning African middle-class is a global trend that economists are carefully watching. As more sophisticated infrastructure is rolled out across Africa, having a base with good connections to ports and with good air, road and rail connectivity will be vital. Mpumalanga has all of that, and more. An Extraordinary Summit of the AU Assembly on the AfCFTA was held in December 2020. The Assembly approved the gradual elimination of tariff and non-tariff barriers to trade on the continent. In terms of export-driven manufacturing and production Mpumalanga is well positioned to take full advantage of the economic promise of the AfCFTA and attract investment, thereby helping to increase income levels and reduce poverty. Mpumalanga is served by the Maputo Development Corridor (MDC), which is South Africa’s leading Spatial Development Initiative (SDI), linking Mpumalanga, Gauteng Province and the Nkomazi Special Economic Zone with the deepwater Port of Maputo in Mozambique. This strategic location gives Mpumalanga a particular advantage with respect to logistics and market access. Improving and increasing intra-African trade will change the way countries do business and include a much broader range of countries and products into the global market. Foreign direct investment is expected to grow rapidly, as investment opportunities such as those on offer in Mpumalanga attract the attention of international companies and institutions. New sectors, such as the Green Economy which Mpumalanga is actively preparing for, will grow exponentially on the back of a continental system of trade with fewer barriers and more connections than ever before.

AfCFTA FAST FACTS Africa’s exports could increase by 0-billion and some experts predict that continental business and consumer spending could reach .7-trillion by 2030. 0 BILLION AfCFTA could boost regional income by 7% or 0-billion (Source: the World Bank) AfCFTA could lift 30 -million people out of poverty, according to the World Bank AfCFTA could boost 10% wages by up to * World Bank estimate ABOUT SADC South Africa is a member of one of Africa’s oldest regional organisations, the 16-member Southern African Development Community, (SADC). This enables duty-free trade within a growing market of more than 360-million people. All goods shipped under SADC Certificate of Origin receive duty-free status. Duty-free trade within a GROWING MARKET of more than 360million people

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