5 minute read
THE EAST LONDON IDZ
Welcomes in New Investments and a new CEO
About the ELIDZ
The East London Industrial Development Zone is a leading industrial park in South Africa, dedicated to promoting industrial growth and economic development in the Eastern Cape. The ELIDZ provides world-class infrastructure, strategic support, and investment opportunities to businesses, fostering a dynamic and sustainable industrial environment.
The East London Industrial Development Zone (ELIDZ) has appointed Mr. Thembela Zweni as its new Chief Executive Officer (CEO), effective 1 July 2024.
With over 18 years of experience in the industrial sector and a proven track record, Mr. Zweni's appointment represents a significant milestone in ELIDZ's journey towards fostering industrial growth and economic development in the Eastern Cape.
During his tenure at ELIDZ, Mr. Zweni has held various executive positions and served as the Chief Operations Officer since 2016. His recent role as interim CEO has been marked by notable achievements, including enhanced stakeholder engagement, improved operational efficiencies, and a renewed focus on sustainable development.
Professor Mlungisi Makalima, Chairperson of the ELIDZ Board of Directors, expressed enthusiasm about Mr. Zweni's appointment, highlighting his extensive experience and deep understanding of strategic objectives. Mr. Zweni's vision for ELIDZ involves strengthening partnerships with local and
international investors, fostering a culture of innovation, and ensuring that the organization remains at the forefront of industrial development in South Africa.
In his statement, Mr. Zweni expressed his honour and excitement in taking on the role of CEO and emphasised his commitment to working with the team, stakeholders, and partners to further drive the growth and development of the industrial sector in the Eastern Cape.
The ELIDZ’s commitment to attracting diverse investments to the Buffalo City Metro, has not only catalyzed economic advancement in the Eastern Cape, but has also contributed to the broader economic landscape.
Under Mr. Zweni's leadership, ELIDZ aims to continue its pivotal role in driving industrial development by expanding infrastructure, fostering innovation, and strengthening partnerships. His extensive experience and strategic vision are expected to contribute to sustained growth and prosperity for the local community and the broader economy.
ELIDZ's announcement of Mr. Zweni's appointment comes at a pivotal time as the organization seeks to further its impact on the region's economic landscape.
New Investments
At the time of the ELIDZ Investor Launch and Stakeholder Engagement event, held on the 25th April the ELIDZ announced significant investments totaling approximately R1.3 billion, aimed at elevating the renewable energy sector and stimulating job creation within the zone and are expected to generate around 1134 new employment opportunities.
At the event Eastern Cape Province Premier Lubabalo Oscar Mabuyane expressed excitement about the new operationalised investments and highlighted the significance of the investments in fostering economic growth within the Eastern Cape.
The recent influx of investments into the ELIDZ underscores the growing confidence in the potential for economic growth and development within the Eastern Cape.
The event was attended by various dignitaries, including the Honourable Premier Oscar Mabuyane and Mr. Mlungisi Mvoko, the then MEC for the Department of Economic Development, Environmental Affairs and Tourism (DEDEAT), along with new investors and board members. MEC Mvoko highlighted the significance of these investments in creating job and business opportunities and boosting the economy of the Eastern Cape. He expressed his gratitude to the outgoing ELIDZ former CEO, Mr. Kondlo for his contributions to the institution and the province.
Bushveld Electrolyte Company (Pty) Ltd:
One of the key investments comes from Bushveld Electrolyte Company (Pty) Ltd, which is a joint operation between Bushveld Electrolyte Company (Pty) Ltd and the Industrial Development Corporation (IDC). This initiative, valued at R400 million, is expected to create approximately 59 new direct jobs and aims to establish capacity for vanadiumbased electrolyte supply to the global Vanadium Redox Flow Battery (VRFB) market and supply chain.
Thezi Langa (Pty) Ltd: Another notable investment is from Thezi Langa (Pty) Ltd, valued at R920 million, aimed at developing a 50MW photovoltaic solar plant. This initiative is projected to create 1000 direct and indirect jobs during a two-year construction period and an estimated 25 new direct jobs during a 20-year operation and management period. The goal of this investment is to increase independent energy generation capacity within the Eastern Cape and provide renewable energy to both private and public sectors.
RAM Hand-to-Hand Couriers: In addition, RAM Hand-to-Hand Couriers is set to establish its Eastern Cape base Hub within the ELIDZ with a value of R18 million, which is expected to contribute 50 direct jobs at the ELIDZ Hub. This expansion initiative aligns with the company's goal to enhance its logistics infrastructure.
The ELIDZ, known for its commitment to driving industrial development, has been instrumental in attracting diverse investments to the Buffalo City Metropolitan Municipality (BCMM) region. The ELIDZ's efforts have not only catalyzed economic advancement in the Eastern Cape but have also contributed to the broader economic landscape. Despite facing challenges, the ELIDZ continues to play a pivotal role in revitalizing the local economy and creating a conducive environment for both foreign and direct investments. The recent influx of investments underscores the growing confidence in the potential for economic growth and development within the Eastern Cape.
In summary, the investments announced by the ELIDZ mark a significant step forward in enhancing the renewable energy sector, creating employment opportunities, and fostering economic growth within the Eastern Cape. These developments are indicative of the region's potential as a strategic hub for innovative manufacturing and renewable energy initiatives.
CONTACT INFORMATION
Address: Lower Chester Road Sunnyridge East London, 5201 South Africa
Call: 043 702 8200
E-mail: info@elidz.co.za
Website: www.elidz.co.za
