City empowers industry partners to drive Cape Town’s economic growth
A new report tabled at this week’s Mayoral Committee meeting highlights the billions of rands in investments channelled into Cape Town’s economy alongside thousands of new jobs via the City’s Special Purpose Vehicles (SPVs). Read more below:
Alderman James Vos, the Mayoral Committee Member for Economic Growth, said the report makes clear the important contributions of these industry development partners and the City during the 2024/2025 financial year.
‘Special Purpose Vehicles are essential tools that allow us to focus resources and expertise where they are needed most across Cape Town’s economy. By working through these organisations, we can support industries that have proven to create sustainable economic opportunities for Capetonians and businesses,’ said Alderman Vos.
Performance highlights: Investments, job creation, and skills development
Collectively, the SPVs and Wesgro facilitated R4,6 billion in investments that directly created 10 214 jobs in the period from July 2024 to June 2025. They have also supported the training of 2 674 people across priority sectors.
These results surpass the set targets of:
- R3,8 billion in investments
- 2 200 jobs created
- 1 200 people trained
This represents a significant return on investment, considering the City’s funding contribution of R51 million for the 2024/2025 financial year.
The report covers a range of sectors:
- CapeBPO: 9 185 new call centre industry jobs were created during the financial year and over R3,2 billion in investment was attracted.
- Craft and Design Institute (CDI): More than 800 SMMEs in the creative industry were empowered with skills development while a further 800 individuals received training, with strong support for PDI-owned businesses in the craft and design economy.
- UVU Africa: The tech incubator hosted 37 events that reached over 5 500 people, as well as training given to township entrepreneurs. They also co-launched the Biotech Growth Coalition, positioning Cape Town as a health innovation hub.
- Cape Clothing and Textile Cluster (CCTC): Promoted industry growth through manufacturing meet-ups and sustainability programmes, engaging dozens of firms in business improvement.
- GreenCape: Facilitated R331,8 million in green investments while creating 252 jobs and supporting nearly 80 SMMEs. GreenCape also led innovative projects in e-waste recycling and urban waste management.
- BlueCape: Represented Cape Town at key global events and supported marine manufacturing, including that of superyachts, together with the development of the ocean sports sectors.
- Western Cape Economic Development Partnership (WCEDP): Advanced initiatives including social ownership of renewable energy in informal settlements, support for the food and beverage sector, partnerships to improve water and sanitation, strengthened waste sector collaboration, and piloted green procurement projects.
- Wesgro: Through their initiatives, 64 trade declarations were signed while 1 639 jobs were facilitated through trade. Meanwhile, the Made in the Cape programme connected 245 local exporters to 37 buyers from 16 countries.
‘These Special Purpose Vehicles and partnerships play a crucial role in our economic growth strategy. They allow us to be more targeted and effective in delivering support and opportunities to sectors that impact the lives of Capetonians ,’ said Alderman Vos.
