Statement by Alderman James Vos, Mayoral Committee Member for Economic Growth
Just over two years after first announcing that the world’s largest biotech company had entered into a long-term lease in Brackengate, I was proud and honoured to represent the City at the official opening of Roche Diagnostics’ new site this week.
It is incredibly gratifying to be present for this moment after I joined the Roche team for the sod-turning ceremony in January 2020 and then a few months later witnessed the construction on the site.
The opening marks an investment of an estimated R700 million and brings with it employment opportunities for around 300 people in the first three years of operation.
The business site, located at the Brackengate 2 Business Park, will include laboratories, biotech production capacity, and office workspace.
Roche’s new space is an endorsement of Cape Town as a leading investment hub in Africa, particularly in technology and specifically in health-tech. In a move that further validated the Mother City as a health-tech capital, Pfizer and BioNTech last year announced that they had partnered with the Cape Town-based Biovac Institute to manufacture Covid-19 vaccines to distribute to countries across the continent.
I am exceptionally proud of the work done by the Investment Facilitation Branch, located within the Enterprise and Investment Department, that led discussions with the Roche executives and helped carry this deal over the line.
Since its establishment in 2017, the branch has engaged with hundreds of businesses to secure or grow their operations. Besides Roche, the branch has assisted more than 20 companies, unlocking investments worth billions of rands and thousands of job opportunities.
The IFB offers a suite of investment facilitation services, including assistance in navigating municipal processes for larger business operations in the City, and business retention and expansion programmes.
It is a testament to City facilities such as the IFB that Cape Town has risen in the ranks of the latest Global Financial Centres Index. As a City government, we have worked hard to forge a strong foundation for economic development and investment and are constantly working to make life easier for businesses.
Together with my officials in the Enterprise and Investment Department, we will continue to ensure that we attract investments that create job opportunities for Capetonians and grows the local economy.
Source: City Of Cape Town