City’s funding brings significant investment and jobs in key growth sectors
28 July 2019
I am proud to report that for the 2018/19 financial year, R2,7 billion worth of investment was facilitated by our Strategic Business Partners and Special Purpose Vehicle (SPV) companies that are supported by the City to facilitate investment, job creation and skills development.
The welcomed investments created 4 764 jobs and provided skills training to 2 109 individuals during the past financial year that ended in June 2019.
These successes are in line with our commitment to build an opportunity city and support growth in the economy that will lead to job creation,
‘The role of government is to create an enabling environment for job creation and driving investment, so more sectors can benefit and more entrepreneurs are able to join the job market. I am pleased by the efforts of our partners to further this goal. Our efforts have been worthwhile as Cape Town has maintained the lowest unemployment rate of all metros in the country over the past few quarters. Cape Town’s unemployment rate (21.2%) stands at around 6% lower than the national average. However, we must work harder to support job creation so that many more are able to earn an income and uplift themselves out of their circumstances,’ said Executive Mayor, Alderman Dan Plato.