Guest

The Coega Development Corporation (Coega) is pleased to announce the receipt of yet another clean audit report from the Auditor-General of South Africa (AGSA) for the financial year 2023/2024, marking five consecutive years of exemplary financial integrity, accountability, and good governance.

Mr. Rodger Hill, Chief Financial Officer of Coega, underlined the significance of this outcome as a testament to Coega’s steadfast dedication to transparency and the responsible management of public resources.

“Coega’s stringent financial controls, efficient processes, and committed team have played a pivotal role in securing five consecutive clean audit reports, underscoring our reputation as a reliable partner for investors, stakeholders, clients, and communities.

Coega’s adaptability, responsiveness, and institutional proficiency empower the organisation to develop Special Economic Zones and implement essential infrastructure projects that drive our financial sustainability. Our robust framework of systems and processes ensures sustainable project execution, while a culture of innovation and continuous enhancement reinforces Coega’s esteemed brand reputation,” said Hill.

During the financial year, Coega received a Level 1 B-BBEE rating and achieved a total SMME procurement spend of over R1 billion allocated across the organisation’s diverse infrastructure development portfolio. Moreover, Coega recently received approval for the Coega Solar Rooftop programme, which is its first limited recourse capital transaction in support of the renewable energy project pipeline.Coega Special Economic Zone (SEZ) currently has 60 Operational Investors, with a total investment value of R12.3 billion, providing a total of 10 154 jobs.

In addition to these endeavours, Coega is actively engaged in government infrastructure projects both in South Africa and across the continent.

“To date, Coega has attracted 60 operational investors with a total investment of R12.3 billion. This impressive growth has led to the creation of 10,154 cumulative operational jobs, with ongoing efforts to champion socio-economic development and employment opportunities,” Hill concluded.

As the African Continental Free Trade Area (AfCFTA) rapidly transforms the continent’s economic landscape, the Eastern Cape province stands at a pivotal moment, writes Mr. Idriss Mouchili, Director of the Coega Africa Programme (CAP) for the Coega Development Corporation (Coega), who recently participated in a panel discussion on Trade under the African Continental Free Trade Area at the Eastern Cape Export Symposium and Exhibition 2024 at the East London International Convention Centre.

The discussion highlighted the province’s strategic position in leveraging the AfCFTA agreement to boost economic growth, increase exports, and attract investment, while addressing regional challenges and opportunities within the Southern African Development Community (SADC) context.

The AfCFTA agreement offers immense opportunities for the Eastern Cape to expand its export markets in manufactured goods, technology, and services. Mr. Mouchili emphasised that the province’s industrial base, coupled with its proximity to key transportation corridors, positions it as a prime location for businesses seeking to access the vast African market. However, realising this potential requires strategic planning, investment, and execution.

He asserts that close collaboration between government, the private sector, and civil society is essential to capitalise on the opportunities presented by AfCFTA. The Eastern Cape should be positioned as a showcase of South Africa’s commitment to intra-African trade. By doing so, we can attract investment, create jobs, and improve the lives of our people.

Coega, with its proven track record in infrastructure development, is uniquely positioned to support the Eastern Cape in realising its full potential under the AfCFTA. Through the creation of Special Economic Zones (SEZs), industrial parks, and advanced logistics facilities, the region can be transformed into a leading trade and industrial centre.

On 29 August 2024, the Coega Development Corporation (Coega) joined by Nelson Mandela Bay Municipality (NMBM) Acting Executive Mayor, Honourable Babalwa Lobishe, hosted a women-led event, including a panel discussion and insightful Coega Special Economic Zone (SEZ) tour in commemoration of Women’s Month 2024, in Gqeberha. The panel discussion, entitled “Woman 2 Woman”, was inspired by the theme “30 Years of Freedom Towards Women’s Development”, and aimed to encourage female employees and high school learners from the surrounding Motherwell area to pursue holistic development, said Dr. Ayanda Vilakazi, Coega’s Head of Marketing, Brand and Communications.

Hon. Babalwa Lobishe, during her keynote address, said: “The young girls sitting here today, are the torchbearers of this legacy. You have the power to shape the future, to break barriers, and to uplift one another. Remember, when women empower other women, we create a ripple effect that transforms society. We continue to face political, legal, social, and economic injustices. But let these challenges be the fuel that drives us to strive for a better tomorrow. Let us invoke the existing legislation and create platforms for women to advance, lead, and inspire.”

The dynamic programme offered a unique blend of expert insights and hands-on experience. Seasoned professionals from media, healthcare, and finance sectors led discussions on personal development, covering topics such as financial literacy, health and wellness, and harnessing the power of the media. Meanwhile, a guided tour of the Coega SEZ provided the Grade 11 learners with a firsthand look at the diverse economic sectors within the SEZ. This exposure offered valuable insights into potential career paths and the practical applications of their desired studies.

Ms. Telly Chauke, Coega’s Chief Sustainability Officer, said: “All of us are fundamentally connected. As women, remember that you have a supreme responsibility to facilitate the connection of others with nature and one another. We are stewards of the earth and its caretakers. In this journey, we need to learn from each other and take on the responsibility of helping each other. Today’s programme speaks to how we navigate towards wealth and wellbeing together, thereby creating an ecosystem where women can thrive and contribute to a better future.”

The observance of Women’s Month highlights the paramount significance of elevating and providing comprehensive support to women across all aspects of life. It serves as a poignant reminder of the ongoing efforts aimed at fostering an environment of inclusivity and parity, wherein women are enabled to robustly engage, assume leadership roles, and effectively articulate their perspectives. By providing educational opportunities, mentorship, and support, Coega seeks to create a more inclusive and equitable society.

Panellist, Ms. Nomazima Nkosi, Assistant Editor: Investigations for The Herald said: “As a media outlet, our role is not only to share information but also to verify its accuracy, as not everything on social media is trustworthy. In the media space, I encourage everyone to be mindful of what they post, as your online presence shapes your personal brand. Remember, what you do today defines your future, and your actions matter.”

Another panellist, Sr. Namhla Mfecane, Director at Empilo Healthcare expressed that women need to learn to prioritise their wellbeing.

”As women, we often put others’ needs before our own, neglecting our physical and mental wellbeing in the process. Managing stress and promoting mental wellbeing is not a sign of weakness, but a sign of strength. It’s about embracing mindfulness, setting realistic goals, and surrounding ourselves with positive influences,” she said.

Panellist Nadia Kassim focused on the value of financial literacy as an indispensable tool for future success.

“By learning essential skills such as budgeting, saving, and investing, women can break free from financial dependence and build a secure future,” she urged.

Coega’s approach to women development is also aligned with the United Nations Women on Economic Empowerment; and there is a growing body of evidence that shows that gender equality significantly contributes to advancing economies and sustainable development.

In the with the objectives of the National Development Plan Vision 2030, Coega, through its partnership with the Department of Basic Education as an implementing agent and other diverse stakeholders, fosters collaboration between schools and industry to ensure that learners have the necessary skills and knowledge to contribute to a prosperous and sustainable future.

Grade 11 female learners from Douglas Mbopha High School and Vulumzi High School shared their enthusiasm and gratitude.

Oneza Moraro (16) from Douglas Mbopha High School said: “Thank you to Coega for such an empowering event. It was truly an inspiring session, and I’m happy to be exposed to different sectors around the Coega SEZ that will make a meaningful change in my career path.”

Siviwe Mgcina (17) from Vulumzi High School, shared: “Today, we wrapped up Women’s Month in style. I’m really inspired to explore opportunities that can positively impact my future.”

“Coega remains dedicated to advancing women empowerment and socio-economic development throughout Africa and beyond, in line with its vision of being a leading catalyst for the championing of socio-economic development,” concluded Dr. Vilakazi.