Gqeberha, South Africa, 2 August 2024 – In an effort to unlock Africa’s economic potential and create sustainable jobs, this week, the Coega Development Corporation (Coega) hosted a benchmarking study tour for the eSwatini Investment Promotion Agency to share best practices in Special Economic Zone (SEZ) development and operations.
The visit aimed to provide a comprehensive overview of the SEZ model, including a guided tour of the Coega SEZ and an exploration of Coega’s Expansion Strategy. Aligning with the Coega SEZ blueprint, which envisions SEZs as catalysts for industrialisation and regional integration, the tour offered a holistic view of SEZ development, operation and management.
Mr. Theo Hlope, Chairman of the eSwatini Investment Promotion Agency Board, shared their keen interest in learning from Coega’s experience. “We are here with the aim of learning and gaining a comprehensive understanding of the development strategies employed in creating a successful special economic zone. We seek to leverage this knowledge to inform our own efforts in establishing a vibrant economic hub, and to make eSwatini a best thriving investment destination,” said Hlope.
The visit included a comprehensive overview of Coega’s 25-year development journey, its expansion plans, and a detailed exploration of the various SEZ clusters.
Mr. Chuma Mbade, Coega Executive Manager of Business Development: External Infrastructure Programmes, emphasised the pivotal role of SEZs in stimulating economic growth and industrialisation: “This visit follows the R3 billion major investment by Stellantis, solidifying Coega’s position as a leading investment location example. Special economic zones are essential catalysts for economic growth, industrialisation, and development. The insights shared and strategies discussed today will be instrumental in shaping the future of the Eswatini Investment Promotion Agency.”
“Since its inception, the Coega SEZ has emerged as a model of success, demonstrating the power of visionary planning, strategic positioning, and unwavering commitment to drive inclusive economic growth, attract investment, export promotion and manufacturing, and create employment opportunities, while adhering to good corporate governance. Africa’s leading Coega SEZ has become a blueprint for other African nations seeking to replicate its achievements,” added Dr. Ayanda Vilakazi, Coega Head of Marketing, Brand and Communications.
Dr. Siyabonga Simayi, Programme Director for Client Solutions, highlighted the importance of collaboration and knowledge-sharing, and stated: “Our 25 years of experience have shown the immense value of on-site visits to special economic zones. Collaborative efforts and knowledge exchange are essential for Africa’s progress and development. Coega is committed to working with partners to foster sustainable economic growth and uplift communities across the continent. This engagement is a prime example of how shared knowledge, and joint initiatives can create positive change.”
Honourable Mr. Masiphula Mamba, MP and Chair for the Portfolio Committee for Commerce in eSwatini expressed his gratitude for the opportunity to learn from Coega’s experience, shared: “We are honoured to gain valuable insights that will help us create a thriving SEZ. The knowledge shared here will guide us in creating a business-friendly environment for investment in our region. We would like to develop relations with South Africa in the SEZs model.”
Coega’s flagship Coega Africa Programme has extended its services to African markets including Zimbabwe, Nigeria, Cameroon, Central African Republic, and Senegal, to name but a few. Coega is committed to supporting economic transformation and sustainable growth across the African continent, in line with the African Continental Free Trade Area (AfCFTA).
“By sharing its expertise and experiences, Coega aims to contribute to the development of a thriving network of SEZs across Africa, unlocking the continent’s economic potential and creating sustainable opportunities for its people,” concluded Dr. Simayi.
