2388 new jobs created in City

By Marthe van der Wolf
12 September 2007

The City of Cape Town has created 2388 new jobs after investments worth R605 million that was lured into Cape Town by Wesgro.

Wegro believes that this year, they recieve get about R666million of investments which will create 2693 jobs.

Important projects are a R55 million-contruction contract for the British Antarctica Survey and a R44 million joint venture between Cape Biotech and a US-based company.

"Wesgro wants to make Cape Town and the Western Cape the most competitive business destinations by 2014," says Wesgro CEO Angelo Manzoni.

Wesgro is jointly funded by the City of Cape Town and the Western Cape Provincial Government to attract trade and investment for the region.

Member of Mayoral Committee for economic development and tourism, Simon Grindrod, congratulated Wegro with the achievements. Saying he is confident that they are on track to better this figure. "Our hard work is all about creating jobs for our people and restoring their dignity and humanity by empowering them financially," says Grindrod.

The investments promotions targets for the coming three years are R817m for 2007/8, R981 for 2008/9 and R1,2 billion for 2009/10.