In the face of staggering unemployment figures, KwaZulu-Natal Premier, Nomusa Dube-Ncube, exudes optimism, asserting that the surge in investments within the province signals a brighter tomorrow for South Africans. Despite grappling with challenges such as load shedding, civil unrest, and aging infrastructure, Dube-Ncube remains resolute in portraying KwaZulu-Natal as a beacon of investment in Southern Africa.
Speaking at the State of the Province Address (SOPA) held at the Oval Cricket Stadium in Pietermaritzburg, Dube-Ncube underscored the province’s resilience in maintaining investor confidence. She emphasized that during the South African Investment Conference (SAIC) last year, KwaZulu-Natal surpassed President Ramaphosa’s investment target by an impressive R306 billion. This feat included contributions from 55 companies within the province, injecting over R300 billion into various sectors.
Highlighting the significance of these investments, Dube-Ncube revealed that numerous ventures are situated within the province’s Special Economic Zones (SEZs), particularly in Richards Bay and Dube Trade Port. These investments, coupled with targeted business expansion initiatives, have resulted in the creation of over 37,000 jobs, with an additional R23 billion allocated for such endeavors.
Looking ahead, KwaZulu-Natal remains steadfast in its commitment to establishing new SEZs in the leather and textile sectors, projected to generate approximately 4,500 employment opportunities. Moreover, initiatives to support Black Industrialists aim to foster economic inclusivity, with 35 such entrepreneurs expected to create around 4,000 jobs.
Beyond traditional sectors, KwaZulu-Natal is tapping into its maritime potential, with 35 small-scale fisheries cooperatives receiving government support. Training programs aimed at enhancing technical skills within the Ocean Economy and Maritime sectors are underway, benefiting over 1,000 registered small-scale fishers.
Government-led projects further bolster job creation efforts in the province. Notable developments include the Port of Durban’s R1.34 billion investment program, focusing on enhancing port capacity and creating over 1,300 jobs. Similarly, investments by the Passenger Rail Agency South Africa (PRASA), totaling over R900 million, have contributed to infrastructure upgrades and employment opportunities.
One of the crown jewels of recent development efforts is the R2 billion Dr Pixley ka Isaka Seme Regional Hospital, inaugurated in 2023. With 500 beds and a comprehensive range of regional services, the hospital has not only transformed healthcare delivery but also generated over 5,000 jobs during its construction phase.
Recognizing the magnitude of developmental challenges, Dube-Ncube emphasizes the importance of public-private partnerships in driving economic growth. Collaborative ventures, valued at over R129 billion, have yielded significant employment gains, with more than 339,000 jobs created across various sectors.
While unemployment remains a pressing concern, KwaZulu-Natal’s robust investment landscape offers a glimmer of hope for its residents. Through strategic initiatives and collaborative endeavors, the province is poised to navigate challenges and forge a path towards prosperity for all South Africans.
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