PROVINCIAL FOCUS: KWAZULU NATAL BY CHARNDRÉ EMMA KIPPIE
Richards Bay Industrial Development Zone:
BUILDING ECONOMIC DEVELOPMENT IN A POST-PANDEMIC WORLD
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round R1.8-billion has been invested into the Special Economic Zones (SEZ) Programme in KwaZulu-Natal, which will offer tangible economic development in the wake of the global crisis caused by Covid-19. The investments into the Richards Bay Industrial Development Zone (RBIDZ) have been dubbed the start of a new era post Covid-19 and will see at least 800 direct jobs created. Counting the costs of Covid-19 This job creation is vital as the country starts to rebuild its economy in the wake of the global pandemic. During her budget speech, KwaZulu-Natal MEC for Finance Nomusa Dube-Ncube said that while around 1.4 million people became unemployed in 2020 as a result of the global pandemic, around 210 000 of those were in the province. Data released by Statistics South Africa
34 | Public Sector Leaders | May 2021
(Stats SA) shows that four out of 10 people are unemployed nationally. However, according to Ms. DubeNcube, this amount is estimated at five out of ten in the province. She also said the province faced a difficult economic recovery, with tax revenues severely impacted and likely to lead to shortfalls over the next two to three years. “It is therefore imperative that we focus on reducing our debt and also focus on our economic recovery to set us on a surer footing in the future,” - Nomusa Dube-Ncube.
The start of a new era post Covid-19 Economic recovery is at the heart of the Richards Bay Industrial Development Zone new investments – not only will they create jobs, but they will bring a
significant financial contribution. The RBIDZ is a purpose-built and secure industrial estate close to the N2 business corridor. It is strategically placed to allow for transport to and from Durban, Maputo and, ultimately, areas of East Africa. It is linked to an international seaport of Richards Bay. During a recent visit to the RBIDZ, Deputy Minister of Trade, Industry and Competition, Nomalungelo Gina said the value of operational investments has increased from R17.7-billion by the end of the third quarter of the 2019-2020 financial year to R19.5-billion by the end of the third quarter of 2020-2021 financial year. “This is a positive increase of R1.8 billion. During the same period, the number of investments has increased from 129 to 143,” says Hon. Gina.
