Investor of the Year

The Coega Development Corporation (CDC) walked away with the prestigious Investor of the Year Award, at the 6th Annual SA Premier Business Awards.

“We are delighted to have won such a prestigious award. It’s a validation of the hard work we put in consistently to attract & retain investors at the Coega Special Economic Zone (SEZ),” says Dr. Ayanda Vilakazi, CDC unit head brand, marketing & communications.

The category won by the CDC seeks to encourage the expansion of investment into the South African economy. It recognises efforts and commitments by local and global companies to create jobs and stimulate the economy through investment across all industry.

Since inception in 1999, the CDC as a SoC involved in the development of the Coega SEZ and as one of the leading infrastructure development and facilities management agency in the country (IA) has created 112,974 jobs (direct and indirect). In the 2017/18FY including year to date as at February 2019, the CDC created a total of 19, 402 jobs. This is accompanied by 8210 ‘during peak season’ operational jobs created as a result of the 43 operational companies located at the Coega SEZ. Mindful of the importance of skills and training, the CDC has further trained in excess of 92, 583 people since inception.

The clarion call made by President Cyril Ramaphosa to raise $100 billion (R 1,4 trillion) over the next 5 five years keeps us wide awake. In an effort to encourage growth in Foreign Direct Investment (FDI) for the Sub Saharan region, the Coega SEZ has dedicated much of its long-term strategy to focus on investment opportunities, which seek to secure a firm position for Africa globally. As a result, Coega SEZ is recognised as the leading SEZ in Africa and a gateway to world markets.

“The SEZ’s strategic location and adjacency to the deep water Port of Ngqura has seen it become a springboard to investors looking to explore the greater African market. “Our location is unique; it provides an opportunity for potential investors to penetrate the African market,” adds Dr. Vilakazi.

The Coega SEZ serves as a one-stop metropolis for all things export-related, it currently boost 43 operational investors (local & international). Over eighty percent (80%) of these companies have seen an increase in their productivity and profits since starting operations in the zone, with the benefits being felt throughout the Eastern Cape and in areas where the CDC is operating.

“This has led to the Coega SEZ becoming home to various leading Fortune 500 companies seeking access to a wider market. At the Coega SEZ there are currently forty-three (43) operational investors with an investment portfolio in excess of R7-billion including investors playing both in the African and wider global market. By year end 2019/20, the CDC is projecting an increase in the number of operational investors in the Coega SEZ to 50 worth R8, 24 billion in Foreign Direct Investment (FDI),” adds Dr. Vilakazi.