Eastern Cape premier Oscar Mabuyane has welcomed billions of rands in new investments after companies attending the 4th South African Investment Conference in Sandton on Thursday showed their confidence in the province.
Among those who promised to continue investing in the Eastern Cape was Ford Motors, which committed to pump an additional R16.4-billion into the province’s economy. The global car manufacturer had invested R600-million in 2021.
Others big companies that opened the purse in a form of investments are SA Breweries, which committed R920-million for its Eastern Cape and KwaZulu-Natal plants, Volkswagen (R350-million), Aspen (R500-million), Africa Auto Group (R550-million), Seraphim (R437-million), and Wheel Assemblers (R180-million).
Mabuyane said his provincial government’s demonstration of policy certainty and the creation of a favourable political and social environment is yielding desirable results.
“The new investment is a demonstration of investors’ confidence in the province. This has come through collective efforts by the provincial government, businesses, and labour,” said Mabuyane.
He added that his government has implemented a recovery plan to ignite and improve economic growth and job-creation prospects, noting that the new investments would add to efforts to rejuvenate the economy of the province.
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