Coega

On Thursday, 5 September, the Coega Development Corporation (Coega) welcomed top Executives from Tabono for a tour of the Coega Special Economic Zone (SEZ) in Gqeberha. The tour aimed to showcase the Coega SEZ’s world-class infrastructure, logistical capabilities, development and operational advancements, seaport integration and transshipment.

Tabono is actively exploring opportunities in Africa’s mining, energy, industrial services, and logistics sectors. The Chief Executive Officer (CEO), Mr. Reon Barnard, expressed a strong desire to learn more about Coega’s strategic and transformative initiatives and operational achievements as a leading SEZ Developer and Infrastructure Implementing Agent in South Africa.

“As Tabono, we are a committed growth partner with a focus on driving economic development across Africa, specialising in forming strategic partnerships, making capital investments, and utilising our deep industry expertise to influence key sectors that are vital to Africa’s future.”

Our visit to Coega is driven by our desire to collaborate with entities that share our vision of transforming innovative ideas into successful projects that drive economic growth and development,” said Barnard.

In addition to showcasing Coega’s successful projects, the tour highlighted the SEZ’s bulk infrastructure, robust logistics systems, and industry synergies. A visit to the Port of Ngqura, a key component of the SEZ’s logistics network, and the Orion Engineered Carbons (OEC) facility in Zone 7, provided valuable operational insights.

Dr. Ayanda Vilakazi, Coega’s Head of Marketing, Brand and Communications, highlighted the visit by Tabono as a market signal to Coega’s commitment to knowledge sharing and collaboration for market development and economic growth. “We are committed to continuous learning and improvement, collaboration, and innovation. We are proud to share our expertise with industry partners. Our goal is to promote and attract investment and to foster economic development in the region and rest of the African continent.

We are proud to also announce the approval of the first limited recourse capital transaction in the public sector, aimed at supporting our renewable energy project pipeline. New investments from companies such as Medigrow, Coega Steels, and Hella Automotive are further bolstering the growth of the Coega Special Economic Zone (SEZ) and generating employment opportunities.”

Coega’s success as a leading African SEZ is attributed to its well-defined value, namely “twelve reasons to invest at Coega,” which include strategic location east and west shipping trade route), world-class infrastructure, effective processes, and systems, Plug and Play model of development, and a clean audit for the past five years, to name but a few. Our dedicated team, supported by ISO-certified systems and strong internal controls, has maintained the highest standards of financial reporting and transparency.

As a leading SEZ, Coega remains committed to setting new standards for sustainable economic growth and innovation on the continent, concludes Dr. Vilakazi.

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.

“The Coega Development Corporation (Coega), developer of the 9003ha Coega Special Economic Zone (SEZ) and trusted infrastructure Implementing Agent of Choice in South Africa, with a footprint beyond the borders of the country, is pleased to announce that it received an award of excellence, the prestigious Transformation Entity of the Year Award, at the 5th annual Construction Industry Development Board’s (CIDB) Empowerment and Recognition of Women in Construction Awards, held on Thursday, 22 August 2024, in Sandton, Johannesburg,” says Dr. Ayanda Vilakazi, Coega’s Head of Marketing, Brand and Communications.

In the 2023/24 financial year, Coega achieved a remarkable R1.027bn in SMME procurement spend, with over R460m allocated to black women- and youth-owned SMMEs. This translates to a 69.41% achievement of SMME procurement expenditure targets, of which 36% was directed towards women-owned businesses.

Coega has facilitated CIDB upgrades for 81 SMMEs, enabling them to secure larger contracts and expand their operations. The organisation’s exemplary achievement of a level 1 Broad-Based Black Economic Empowerment (B-BBEE) rating, coupled with the successful implementation of the BEE Scorecard Improvement Programme, have empowered 600 black-owned companies to enhance their B-BBEE status.

The Deputy Minister of Public Works and Infrastructure, Honourable Sihle Zikalala, said: “We are here to highlight and celebrate the success stories of women in this maledominated construction industry and recognise the commitment amongst stakeholders to support women in their professional growth and development.

The National Development Plan views the construction industry as an engine for job creation and inclusive economic growth, with infrastructure development described as a flywheel of the South Africa Economy,” continued Honourable Zikalala.

The Transformation Entity of the Year category recognises organisations that champion gender equality and foster the growth of women-led businesses within the construction sector. As an Infrastructure Implementing Agent of Choice, the award was received by Coega’s SMME Development Project Coordinator, Ms. Nazlie Allie, highlighting the alignment of the award category with Coega’s broader socio-economic development mandate as a public entity.

Coega’s recognition as the Transformation Entity of the Year is a testament to its impactful work in driving positive change and empowering women. The organisation’s dedication to creating a supportive environment for women entrepreneurs in the SMME arena has been instrumental in its success.

Ms. Unathi Maholwana, Coega’s SMME Development Programme Manager, expressed pride in the achievement: “This award is a testament to the hard work and dedication of our team in empowering SMMEs. Our comprehensive SMME Development Programme, which includes BBBEE compliance, training, mentorship, and CIDB grading support, has been instrumental in fostering the growth and sustainability of these businesses, and in turn, Coega’s success in this sphere of socio-economic development.”

In conclusion, Coega’s win as the CIDB ERWIC Transformation Entity of the Year is a resounding affirmation of Coega’s position as a leader in socio-economic development and as a designated Implementing Agent of Choice for certain key projects in the South African Economic Reconstruction and Recovery Plan aligned to the National Development Plan Vision 2030 and the National Infrastructure Plan 2050. The award follows Coega’s Infrastructure Development Award at the Africa Career Summit 2024 and Community Builder Award at the Black Business Quarterly Awards 2024, demonstrating an unwavering commitment to inclusive socio-economic development.

The Coega Development Corporation (Coega), recently, welcomed a delegation from the High Commission of Namibia and the Namibia Investment Promotion and Development Board (NIPDB) for a significant benchmarking visit to the Coega Special Economic Zone (SEZ), says Dr. Ayanda Vilakazi, Coega’s Head of Marketing, Brand and Communications. This initiative underscores Coega’s commitment to enhancing investment prospects across Southern Africa. The visit focused on highlighting Coega’s automotive investment strengths and identifying potential partnerships to advance the Southern African automotive industry.

Ms. Denise van Huyssteen, Chief Executive Officer of the Nelson Mandela Bay Business Chamber, emphasised the importance of fostering mutually beneficial trade relations with neighbouring countries.

“It is vital that as we position the Bay as the diverse manufacturing imports and exports based on the African continent, that we develop strong trading relationships with bordering countries such as Namibia.

“Through strengthened ties and collaboration, as well as the exchange of technical expertise, we believe that there are various trade opportunities which can be unlocked not only in the automotive sector, but also in the hydrogen and tourism sectors,” said van Huyssteen.

The benchmarking visit between Coega and the NIPDB marked a significant step towards strengthening economic ties and fostering industrial growth in Southern Africa. By sharing knowledge and exploring collaborative opportunities, both parties have demonstrated a commitment to developing the automotive sector and creating a more competitive investment landscape in the region. The visit lays the groundwork for future partnerships that will drive sustainable economic development and job creation.

Mr. Francois van Schalkwyk, the Executive Director for Investment at the NIPDB explained that the Eastern Cape Province is a light tower in the automotive sector: “As a delegation, the purpose of our visit to Coega is to learn more about the opportunities in the auto industry and explore the depth of these opportunities, especially, in terms of in auto manufacturing. A primary focus for us is how we can substitute imports with local products to further develop the Southern African economy.”

As Namibia’s foremost investment agency, the NIPDB is dedicated to fostering a conducive environment for investment. Dr. Vilakazi remarked: “This exchange, facilitated by the Nelson Mandela Bay Business Chamber, aligns with our ongoing efforts to promote knowledge sharing among development partners and to reinforce Coega SEZ’s reputation as a leading investment hub in Africa.”

This visit marks a crucial step in fostering regional partnerships and enhancing the investment landscape in Southern Africa.

Over the past 30 years, South Africa’s economic growth has been severely impacted by three major global crises, including the 1997/98 Asian financial crisis, the 2008/09 global financial crisis, and the economic aftermath 2020 Covid-19 health pandemic. These events spurred unprecedented macroeconomic instability, leaving the country particularly vulnerable. Despite these obstacles, the South African economy has shown resilience and has made some progress in development, although at a slower pace than expected. Dr. Nicolene Hamman, Economist at the Coega Development Corporation (Coega), writes that the country has faced and overcome numerous economic challenges, demonstrating its ability to adapt and persevere.

As democracy took root in South Africa, the government implemented various policies, which are a combination of fiscal and monetary measures enacted to both strengthen and create a more inclusive South African economy. Despite these efforts, economic growth has been highly volatile. During the first 15 years of democratic rule, real Gross Domestic Product (GDP) growth averaged 3.6%, with a peak of 5.6% in 2005. However, this positive trajectory was disrupted by the 2008/09 global financial crisis and the 2020 Covid-19 pandemic, leading to sustained weakness in real output growth.

During this period, productive sectors such as manufacturing, mining, and construction struggled to maintain their growth momentum, while the private service, agriculture, and public service sectors experienced more robust expansion. This essentially serves as an indication that the structure of the economy shifted from being “supply-centered” to being more “demand-centered”. In other words, consumption is outpacing production. This also completely nullifies Say’s law of markets theory in a South African context that “supply creates its own demand”.

A decline in efficiency, marked by low global competitiveness, rampant corruption, and deteriorating infrastructure, has stifled economic progress. Additionally, the economy has struggled to create enough jobs for its growing workforce. These challenges have collectively hampered investment, job creation, and overall economic growth.

Statistics South Africa (Stats SA), recently, revealed that household spending contributed to over 60% of GDP in 2023, emphasising the pivotal role of consumers in the South African economy. In addition, it underscores the critical link between consumer spending, economic prosperity, and social stability. On the other hand, this finding raises several pertinent questions. Considering the current economic landscape characterised by high unemployment, escalating living costs, constrained financial conditions, and elevated debt levels, what are the prospects for economic growth? How can job creation be stimulated in a predominantly demand-driven economy? Could this consumer-centric economic structure explain the persistent challenge of achieving satisfactory employment rates over the past three decades?

To stimulate job creation, South Africa must prioritise investment in labour-intensive sectors such as agriculture, agro-processing, manufacturing, construction, logistics, and renewable energy, alongside robust support for small businesses. This should form the cornerstone of the country’s industrial policy to reinvigorate economic growth. However, the question remains whether a clear industrial policy currently exists, given the recent inauguration of the 7th Administration and the dawn of a new era under a Government of National Unity (GNU).

Notwithstanding, the broader economic landscape remains challenging. South Africa’s deep integration into the global economy renders it susceptible to external shocks, while domestic headwinds such as social ills, high crime rates, and the sluggish pace of economic reforms further impede growth prospects. The country’s economy has also demonstrated limited resilience to recent extreme weather events, exacerbating its challenges. Recent World Bank Global Economic Prospects forecasts indicate that the South African economy is expected to experience modest growth, with real GDP projected to increase to 1.2% in 2024, 1.3% in 2025, and 1.5% in 2026.

However, these projections are subject to considerable upside and downside risks due to uncertainty as the global economy navigates multiple geopolitical tensions, major elections in advanced economy group, as well as policy adoption following an inauguration of a new government domestically.

Despite navigating numerous economic challenges over the past three decades, the South African economy has demonstrated resilience, with some development progress achieved, at far lower levels than anticipated. Several groundbreaking projects and initiatives have been implemented to stimulate growth, such as the Growth, Employment and Redistribution (GEAR) policy, Accelerated and Shared Growth Initiative for South Africa (ASGISA), the New Growth Path, various trade policies, black industrialist programmes, as well as the development of industrial parks and special economic zones (SEZs).

In fact, the Coega Special Economic Zone (SEZ) stands out as a successful example of an industrial policy intervention aimed at job creation and economic development in the Eastern Cape. Since its establishment in 1999, the Coega SEZ has consistently contributed to the province’s development and has demonstrated sustained growth in manufacturing income as a percentage of the Eastern Cape’s manufacturing Gross Value Added (GVA) over the last five years. According to the latest Coega SEZ Census 2023 published by Stats SA in 2023, the Coega SEZ contributed significantly to Nelson Mandela Bay’s economy, accounting for 64.2% of the metro’s manufacturing GVA. These figures underscore the pivotal role of industrial parks and SEZs in driving industrialisation and job creation, particularly during economic downturns.

The government has implemented various structural reforms and programmes aimed at promoting economic growth and development in the country and at a provincial level.

The 7th Administration has demonstrated a continued commitment to these efforts, with a particular focus on fostering an inclusive economy and securing a prosperous future.

Recent advancements in addressing loadshedding and port-related challenges have positively impacted growth prospects. These improvements signal the government’s determination to address critical challenges and inspire confidence among investors and citizens alike. The government’s dedication to reform and programme implementation is a crucial step towards fostering economic growth and development.

On Monday, 12 August, the Coega Development Corporation (Coega), in collaboration with the Nelson Mandela University, orchestrated an admissions and career counselling workshop for the Coega Maths and Science Programme (MSP), Class of 2024. The engaging session, hosted by the Coega Human Capital Solutions in Gqeberha, provided life lessons and guidance to the MSP graduates on university course options and the application process for Science, Technology, Engineering, and Mathematics (STEM) fields in 2025.

Nelson Mandela University Marketing Events Specialist, Ms. Nosithembele Mrara said that the workshop aligned with the university’s ‘Leave No Learner Behind’ philosophy. “These students have already completed Grade 12 and are embarking on a journey to pursue a career in their chosen field. We wish them well and confident that they will make us proud,” said Mrara.

The Coega MSP is a fully funded Corporate Social Investment (CSI) initiative that enables learners to pursue careers in STEM by improving their matric results in Mathematics and Physical Science. This is in line with Coega’s vision of being a leading catalyst for championing of the socio-economic development.

Coega’s Corporate Social Investment (CSI) Manager, Ms. Sylvia Graham urged the learners to choose wisely and to follow through with their ambitions after graduating from the programme at the end of this year. “As Coega, our investment seeks to give the learners tools they need to progress to the next level. We understand that there are difficult hurdles ahead on the journey to becoming professionals, and that is one of the reasons Coega has designed programmes like this,” said Graham.

Over the past decade, the Coega MSP has benefited over 1,000 learners, providing them with necessary skills and knowledge to pursue STEM related qualifications at tertiary institutions. The MSP Class of 2023 produced 10 distinctions in Mathematics. Thirty-three learners excelled with above 70% in Mathematics, and 11 achieved above 70% in Physical Science.

“Today taught me that reading and comprehending information are extremely important. After completing the MSP, I hope to follow a career in Finance or Health Sciences,” said Ms. Nikita Magwanya (19), from the MSP Class of 2024.

In conclusion, the collaborative effort between Coega and the Nelson Mandela University is testament to a shared commitment to nurturing future leaders in STEM and enabling them with the tools and knowledge to succeed.

On Friday 9 August 2024, the Coega Development Corporation (Coega) partnered with the Eastern Cape Provincial Government to commemorate and celebrate Women’s Day 2024 at the Misgund Primary School sports ground in Koukamma Municipality. Under the leadership of the Eastern Cape Premier, Honourable Lubabalo Oscar Mabuyane, and the MEC for Economic Development, Environmental Affairs and Tourism (DEDEAT) Honourable Nonkqubela Pieters, the occasion was centered on advancing gender equality and economic empowerment in line with the theme: “Count her in: Accelerating Gender Equality through Economic Development,” says Dr. Ayanda Vilakazi, Coega’s Head of Marketing, Brand and Communications.

The Honourable Premier Mabuyane emphasised the reason behind this Women’s Day commemoration: “Women are the pillars of our communities, playing vital roles in nurturing families, driving businesses, leading in government, and spearheading community initiatives. Today, we pay homage to the trailblazers who have paved the way for progress and to those who continue to advocate for equality, justice, and peace.”

The event was a showcase and exhibition of the respective Eastern Cape Government initiatives aimed at empowering women across key economic sectors, which provide valuable resources and support to help drive women’s success in small, medium and micro enterprise (SMME) and entrepreneurship, amongst others.

Coega, as a state entity, took part in the commemoration and celebration by showcasing its Small, Medium, and Micro Enterprise (SMME) Development Programme, providing training and mentorship opportunities for entrepreneurs in the construction sector, in line with its vision of being a leading catalyst for the championing of socio-economic development. Coega continues to foster a supportive environment for women- and youthowned small enterprises through its SMME Development Programme.

During the 2023/24 Financial Year (FY), Coega achieved R1,027 billion in SMME procurement spend, with over R460m allocated to black women- and youth-owned SMMEs to promote sustainable economic participation. Notably, this amounted to a total spend achievement of 69.41% on SMME procurement expenditure, of which 36% was on women-owned businesses (R364,587m). Macroeconomic and social policy advocacy is crucial for the achievement of women’s empowerment and gender equality; and working together with other public and private sector partners can deliver results for women.

Coega’s SMME Development Programme is dedicated to empowering women through equitable opportunities and fostering an inclusive environment for women, particularly in the construction sector. Coega SMME Development Programme Mentor, Mr. Simphiwe Ntlanti, highlighted Coega’s dedication to women empowerment, particularly in the realm of small business. “Our participation in today’s event allowed us to gain valuable insights into the challenges faced by local women. This knowledge will inform our efforts to drive positive change within the community,” said Ntlanti.

As the leading advocate for gender parity and women empowerment, Coega was recognised as the 1st Runner up at the 2022 Standard Bank Top Women Awards in the Category Top Gender-Empowered Organisation: Resources, Construction, and Infrastructure Development. Coega was also recognised as 2nd Runner up in the Category Top Gender-Empowered Organisation: Skills Development. This is a welcomed industry acknowledgement of the work Coega is doing to champion women development.

In conclusion, Coega is committed to fostering a future where women thrive. By investing in SMME development, mentorship, and skills training, we aim to empower women across industries and create lasting change. Our approach to women development is also aligned with the United Nations (UN) 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. Working with a variety of partners, our programmes will ensure sustainable women growth and sustainability, concludes Dr. Vilakazi.

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.