Statement by the Mayoral Committee Member for Economic Growth, Alderman James Vos.

Cape Town has, in recent years, gained a reputation as one of Africa’s leading green economy hubs.

This is a green technology sector that is ripe with potential and, through our partnerships with bodies such as the South African Renewable Energy Business Incubator (Sarebi), Cape Town is leading the way in realising the 4IRR opportunities for the good of our economy and people

In Cape Town, in particular, we have made great strides in boosting our clean energy profile. In the last three years, the Atlantis Special Economic Zone (ASEZ) has attracted R700 million in green investments and is projected to attract approximately R3,7 billion over the next two decades.

Green energy production and storage is expected to become a cornerstone of the future energy services market. In addition to being a source of jobs and economic growth, with some of the most sustained sunlight in the world and ideal wind power potential, renewable energy is the solution to South Africa’s incessant power woes, not to mention being vital to reducing our carbon footprint.

We are pleased that our efforts have paid off with several major international clean energy companies basing their operations in the metro. We, as the City in local government, now have the opportunity to help local businesses get a foot in the door to seize on the sector’s opportunities.

The City has several partnerships with industry bodies tasked with providing greentech skills-ready training to local entrepreneurs and communities across the metro. Sarebi, for instance, receives funding from the City via its Enterprise and Investment Department to facilitate development programmes for Cape Town-based entrepreneurs.

In the last year, attendees received business improvement coaching specifically geared for the demands of the greentech industry. These workshops have already made a visible positive impact because most of the entrepreneurs grew their businesses and employed more people after applying their new skills.

This speaks to the City’s commitment to build an inclusive economy of confidence and care.

Africa is undergoing steady economic growth, development and transformation and there is no denying that the continent’s renewable energy market is playing a leading role. This is an industry that presents huge opportunities for investors, developers and operators, while simultaneously ensuring sustained growth that will benefit Africans with employment and economic prospects.

Source: City Of Cape Town