R171 Billion

Investments have put food on the table to more than 21 000 families in the province

The heightened drive by the 6th Term of Provincial Administration to attract more investments into the province has raked the cumulative total of R171 billion that created more than twenty-one thousand jobs in various sectors of the economy in the last few months.

This campaign was underpinned by the strong Economic Recovery Plan and decisive moves on sound economic policies to make the environment conducive for the investors to change the economic trajectory of the province.

The latest investment attracted was the SAB’s Ibhayi Brewery where they are investing R510 million for plant expansion that will lead to more jobs. The project has created jobs for the Gqberha communities and contracted 28 companies for civil construction; 8 Small Medium and Macro Enterprises (SMMEs), and a Community Liaison Officer to represent the community to ensure their involvement and to leverage on opportunities that may arise.

According to SAB, the investment will add 14 000 additional jobs in the beer sector and will add R2.5 billion to the country’s GDP per annum, accelerating economic growth for the Eastern Cape province.

Eastern Cape Premier Lubabalo Oscar Mabuyane commended SAB for following through on the commitment made during the Presidential Investment Conference and for benefitting the surrounding communities through this expansion project.

To expand more on the investments already yielded, during the State of the Province Address (SoPA) recently, the Premier said “To sustain the momentum on economic growth and job creation we need more investors to locate in our province. We therefore aim to use economic diplomacy as an instrument to attract foreign investors. It is our belief that through pursuing international partnerships we would be able to attract more foreign direct investors that would create jobs for our people” Said the Premier.

Plans are afoot to visit Ghana, Tunisia, and Egypt. The province has also established an Eastern Cape Economic Development Fund which it will recapitalise with business to unlock future investments.