World Economic Forum on Africa set to boost Cape economy

World Economic Forum on Africa set to boost Cape economy

Cape Town and the Western Cape warmly welcomed delegates attending World Economic Forum on Africa to the Mother City in early September.

This conference is a major boost for the brand of the destination, and will assist in our efforts to promote tourism, trade, investment and film in Cape Town, the Western Cape and South Africa.

Tim Harris, chief executive officer of Wesgro, explained: “This major conference boosted the Cape economy in two ways: in direct spending by delegates attending this important international event, as well as boosting the brand of the Cape as an economic and ideas hub on the continent. This is incredibly important for our promotion efforts, as the world’s eyes will be on Cape Town.”

The conference also showcased the world-class offering of Cape Town as a business tourism destination. The city of Cape Town mayoral committee member for economic opportunities and asset management, James Vos added: “Delegates got to experience the business opportunities that exist in Cape Town. This established our brand as the go-tocity on the African continent and beyond as a hub for trade and investment. We warmly welcomed delegates to Cape Town and were available to answer any of their investment queries during their visit.”

Wesgro collaborated with Brand South Africa in their WEF Africa media tour. The briefing at Workshop 17 at the V&A Waterfront was attended by minister in the presidency, Jackson Mthembu, deputy minister in the presidency, Thembi Siweya, provincial minister for finance and economic opportunities, David Maynier and acting chief executive officer of Brand South Africa, Thulisile Manzini.

Mr Maynier said “There is an abundance of investment opportunities in a variety of sectors that we’d like you to consider across Africa, South Africa and the Western Cape. There is more to Cape Town and the Western Cape than meets the eye. We are a beautiful place to visit but also a top business destination, and an economic powerhouse on the African continent.”

Some key facts that showcase the economic offering of Cape Town and the Western Cape include:

The Cape is Africa’s tech hub, with the Cape Town-Stellenbosch tech ecosystem employing more people than that of Lagos and Nairobi combined.

The Western Cape is an attractive destination for foreign direct investment, attracting over 299 projects in the last 10 years, exceeding more than US$7 billion.

The Western Cape is the fastest growing green economy in Africa, with 70 per cent of all South African renewable energy manufacturing taking place in the Western Cape.

The Cape is the film and media capital, with over 5000 locations in Cape Town alone, and home to the world-class, custom built Cape Town Film Studios.

The Western Cape is a global exporter, with total exports from the Cape to the rest of Africa amounting to over US$ 3.2 billion.

Cape Town is the business events capital in Africa, with the city attracting more conferences than any other African city.