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Diversified
Coega Development Corporation
Founded in the summer of 1999, the Coega Development Corporation is a state-owned company entrusted to manage the highly-coveted Coega Industrial Development Zone (IDZ) – a significant responsibility, considering it includes 11,500 hectares of industrial land. On top of this, Coega’s primary aim is to attract investors to the site in an effort to increase socioeconomic growth within South Africa and bolster the area’s status as an investment hotspot.
For the Coega Development Corporation, nothing is done on a small scale. Managing 11,500 hectares of land in South Africa, it has signed investments worth billions and generated more than 62,000 jobs both locally and overseas.
Coega’s target investors are within export-oriented industries, not least because of the industrial development’s location. The vast plot is adjacent to the Port of Ngqura, a deep water harbour and transhipment hub that’s the largest IDZ in the Southern Hemisphere and acts as a convenient gateway to the rest of the global market. Thus far, Coega’s investors largely span across the automotive, energy and construction industries, with companies specialising in everything from steel and air products to wind towers and cold storage. Additionally, Coega not only offers an opportune location
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– one that’s also within reach of the Nelson Mandela Bay Metropolitan Municipality – but a wealth of money-saving advantages. Investors who choose Coega also benefit from tax incentives and rebates within a duty-free zone, not to mention ample space for large-scale buildings such as factories.
More than just property management
Never one to be limited, Coega’s operations span much further than just managing the IDZ. Coega also provides its investors with business management, human resources and strategy services, all aimed to get companies off their feet and thriving. Coega has also been tasked with helping advance the delivery of infrastructure within the Eastern Cape and KwaZulu-Natal regions, through addressing issues like constrained planning and project management capacity, skill shortages
Investors who choose Coega also benefit from tax incentives and rebates within a duty-free zone, not to mention ample space for large-scale buildings such as factories
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and under-expenditure. When it comes to improving unemployment, Coega has met the task head-on. The Top Employers Institute estimates that Coega has created some ‘62,000 jobs in both local and foreign direct investment’, and subsequently contributed an estimated 2.5% gross domestic product to the local area. As a result, they have been awarded the organisation’s Top Employer Award in South Africa for 2016. The corporation is also committed to growing internally. Beginning in 2011, Coega has since branched out so that its project management services assist not only those found on the IDZ but schools, hospitals and road-building projects, working alongside clients like the South African Departments of Health and Education. As the need for various resources within South Africa expands and their range of clients continues to grow, Coega is devoted to meeting the challenge.
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General Build | Civil Works | Mechanical & Sanitation
CONSTRUCTION WHERE IT IS NEEDED MOST
Contact us: Tel: +27 (0)31 461 1737 | Email: info@bayaphambili.co.za | www.bayaphambili.co.za 5
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Investors are confident in the Coega IDZ’s ability to withstand tough times, as such they continue to experience consistent growth year-on-year
On the horizon
Stagnancy within the IDZ is scarce – in the past two fiscal years alone, four of Coega’s investors have opted to expand their facilities within the IDZ. ‘These numbers are impressive, given the macroeconomic challenges facing the domestic and global markets,’ Coega’s Head of Marketing & Communications Dr Ayanda Vilakazi told website RNews. ‘Investors are confident in the Coega IDZ’s ability to withstand tough times, as such they continue to experience consistent growth year-on-year.’ One such expansion has occurred with Coega investor Dynamic Commodities, an agro-processing company. Announced earlier this year, the plan is to tack on an additional warehouse and refrigerated storage facility to Dynamic Commodities’ property, thus generating 500 jobs in total and the resources necessary for expanding the company’s
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clientele. The expansion also allows ‘farmers the opportunity to grow produce on contract specifically for the [IDZ] factory,’ Coega Business Development Senior Manager Johan Fourie told RNews, ‘and in this way, create jobs and opportunities for local farmers who would otherwise not have had a market for their products.’
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On top of this, Coega is beginning to see an uptick in dealings with China, one that holds much potential for continued growth. As a result of a recent meeting which included Chinese Prime Minister Xi Jinping and South Africa’s President Jacob Zuma at the Forum on China-Africa Cooperation in Johannesburg at the end of last year, the two Heads of State signed 26 bilateral agreements, according to Engineering News. These agreements reportedly allude to China’s strengthening faith in South Africa’s investment potential. It has already lead to the Beijing Automobile International Corporation signing a multi-billion South African Rand deal with Coega, and, if all goes according to plan, this will only be the beginning.
Diversified
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Coega Development Corporation Coega IDZ Business Centre Corner Alcyon Road & Zibuko Street Zone 1, Coega IDZ Port Elizabeth, 61 T: +27 41 403 0400 F: +27 41 403 0401
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www.essentialbusinessmag.com ŠEssential Business Magazine 2016