Coega Development Corporation on course to meet Job Creation Targets

The Coega Development Corporation (CDC) today released the latest projected job creation targets for the 2014/2015 financial year (1 April 2014 – 31 March 2015).

“The CDC is well on its way to reaching its job creation target, and by mid-February we stood at 95%. This represents around 13 804 jobs created for the South African economy between March 2014 to February 2015 on our set annual target of 14 588,” said Dr Ayanda Vilakazi, CDC head of marketing and communications.

Dr Vilakazi said that by diversifying its product offering and expanding its role from operator of the Coega Industrial Development Zone (IDZ) to an implementation agent for national and provincial government on infrastructure development programmes, CDC was able to ensure that its job creation targets were met, thus contributing towards reducing the unemployment rate in the EC province and country as a whole. This achievement has been well received by all stakeholders including the community of the Nelson Mandela Bay and Eastern Cape at large.

“For our new financial year which starts next month, we have set an annual target of 20 198 jobs and we also plan to provide training and skills development to around 6 000 individuals.”

Dr Vilakazi said CDC has 35% SMME participation target in all the service contracts it awards as the participation of emerging businesses is important to ensure development and transformation in the province.