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Major Blows to Investment Stalling Growth

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Nelson Mandela Bay needs to become an investment destination

Dear MyPE

A new government that can turn Nelson Mandela Bay around, restore service delivery and good governance is vital if we are to restore public confidence in the city and attract much-needed investment to the Eastern Cape.

The recent announcement that Project Mthambo will be going to Richards Bay and further delays in the relocation of the tank farm from the Port Elizabeth harbour have been major blows to Nelson Mandela Bay.
Mthambo’s impact on the economy and sustainable job creation would have been significant. It was expected to create between 12 000 and 21 000 jobs during construction, and between 2 000 and 5 000 jobs when operational.

In a province with the highest unemployment rate in the country, this loss of employment is a major setback.

The delays in the tank farm relocation pushes back the planned waterfront that could potentially create thousands of jobs in hospitality and tourism.

Nelson Mandela Bay is the economic powerhouse of the Eastern Cape and contributes roughly 36% of the province’s Gross Domestic Product, but local and international perceptions of the Metro are anything but favourable at the moment.

The lack of confidence from investors is not surprising. This is due to the complete lack of leadership under the ANC led coalition of corruption that has been running rampant, putting their own needs above that of the city.

If we are to bring investment back and turn around the economy, we need to start by making the tough calls. The DA and its coalition partners have shown that they can do just that.

Some of the successes achieved during the two years that the DA was part of the governing coalition government include:

  • NMB went from being in the red to having a R2 billion surplus, receiving a AAA credit rating;
  • Red tape was removed to make it easier to do business in the City
  • The City established a new metro police service;
  • We stopped R615-million of corrupt contracts;
  • The City achieved the best Urban Settlement Development Grants spending in the country;
  • We instituted Shot-spotter technology to help curb gang violence;
  • We put the IPTS buses on the road for the first time;
  • and more cruise liners docked in Port Elizabeth than ever before.

In 2017 Nelson Mandela Bay also grew to be the second most trusted metro in the country and this instilled business confidence.

Thursday’s council meeting could once again be a critical turning point for the City and we continue to engage with all political parties who would like to see the City returned to a path of prosperity, based on the values of doing what is best for the people of Nelson Mandela Bay.

Regards

Nqaba Bhanga
DA EC Provincial Leader

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Port Elizabethan

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