KwaZulu-Natal is leading South Africa's economic rebound with a remarkable 1. 1 percent growth rate.
Minister of Trade, Industry and Competition Parks Tau has acknowledged the significant role KZN plays in driving trade and investment into our economy. Picture: Kopano Tlape/GCISStats SA has confirmed that KwaZulu-Natal is now leading with a growth rate of 1.1% and remains second in GDP contribution, representing 16% of the national economy.who made the announcement at the KZN Investment Conference.
“This conference arrives at an opportune time for strengthening the collaboration between the public and private sectors as we work together to build an inclusive economy and generateAccording to Tau, since the formation of the Government of National Unity’s , they have seen dynamic engagement with investors, both local and international.
Tau said that the department has offered financial and infrastructure support to businesses during Covid-19, social unrest, and floods, as part of their economic recovery efforts in KZN which has been instrumental in helping businesses in the province rebuild swiftly. “Our focus is on positioning South Africa as a preferred investment destination and regional hub, encouraging companies to establish their operations here and grow their export reach.”Special Economic Zones are also expanding to promote export-led growth, and harnessing the Africa Continental Free Trade Agreement . He said 2024 marked the beginning of preferential trading under the AfCFTA here in eThekwini.
These zones, along with KZN’s industrial parks, are essential for driving industrialisation across the province.
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