Investors to put R70.8 billion into KwaZulu-Natal

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Investors to put R70.8 billion into KwaZulu-Natal
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Trade, Industry and Competition Minister Parks Tau has invited new investors to take advantage of opportunities in the ‘rising’ province

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They included the R15 billion Westown mixed-use residential, retail and commercial property development in Shongweni; a R10.8 billion investment by Sappi Southern Africa to upgrade and improve the performance of its business; R10 billion in Seaton by Collins Property Development; R10 billion by Sortor; R5.9 billion in Salta Sibaya Phase 2 by the Devmco Group and R5.4 billion by Edstan.

“Most of the projects we have seen before as business drag on and on and the approvals that are meant to take three months end up taking two years. I appeal to all stakeholders to ensure when we come back here in six months that all the projects that are announced, and pledges made, are on the implementation side of the business,” he said.

“These zones, along with KZN’s industrial parks, are pivotal for driving industrialisation across the province,” he said. He noted that while South Africa had registered a trade surplus of R54 billion in the second quarter of 2024, KwaZulu-Natal had a deficit of R3.2 billion, adding: “This highlights the need for targeted strategies to attract foreign direct investment and to bolster our export capacities.

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