Cape Town’s economic growth strategy delivers tangible success across key sectors
Cape Town is solidifying its position as a powerhouse of economic growth with extraordinary performances from three pivotal industries: marine manufacturing and boat building, clothing production, and the green economy. Over the past year, we have worked tirelessly to drive this growth through targeted investments, workforce development and business expansion initiatives. Read more below:
These efforts are made possible through our funding of the City’s Special Purpose Vehicles (SPVs) programme, which supports these sectors in partnership with industry leaders such as Blue Cape, the Cape Clothing and Textile Cluster, and GreenCape.
Record-breaking outputs driving economic success
The past year has yielded impressive results:
- Marine manufacturing: Over 300 luxury boats were built in Cape Town, cementing our city as a global leader in luxury recreational boat-building excellence. This sector alone contributes a remarkable R4,7 billion annually to the local economy.
- Clothing production: Over 389 million garments were produced, underscoring the sector’s revival and growth. This industry also contributes R5,6 billion to Cape Town’s economy while strengthening South Africa’s reputation as a quality manufacturer for global brands.
- Green energy: The renewable energy community in Cape Town has collectively had a massive year. Companies based in the broader Cape Town region have projects either under construction, power purchase agreements signed or energised in 2024/25 of a little over 3 gigawatts (GW) on the public sector procurements, and just over 1GW in private sector contracts. These 4GW of renewable energy projects are being built all over the country and represent an investment cost of in the ballpark of R100 billion.
Transformative growth through partnerships
What excites me most is witnessing how our collaboration with these industry bodies positively impacts profitability, and overall economic performance. And importantly, these partnerships have strengthened our pro-business environment, fuelling employment in the Mother City where 1,756 million people now get up to go to work every day.
I’ve walked the factory floors and sat in boardrooms to ensure that we not only meet but exceed our growth targets. Our focus on break-out growth has clearly delivered, proving the success of our approach.
The key to this success has been private sector investment, supported by the City of Cape Town’s Economic Growth team. Our investment facilitation services and sector partnerships have created a fertile environment for businesses to thrive.
Looking ahead
These achievements are just the beginning. By continuing to strengthen our partnerships, refine our workforce development programmes, and enhance our investment support, we aim to sustain and build on these successes. Cape Town’s growth is not only reflected in economic figures but also in the lives transformed by the opportunities these industries provide.
Cape Town is proving that when local government, private sector, and industry leaders work together, we can achieve extraordinary outcomes. The future of our city’s economy is brighter than ever, and I am committed to ensuring this progress benefits every Capetonian.
Let’s celebrate these milestones and push forward to make Cape Town an even stronger engine of growth and opportunity.
