R6,4 billion in investments, 15 000 plus jobs in 2024 through City’s SPV programme

The City supports 11 Special Purpose Vehicles (SPVs) across key high-growth industries, including technology, clothing and textile manufacturing, business process outsourcing (BPO) and marine manufacturing.

‘These results highlight the success of our targeted efforts to create an environment that attracts investments and the employment opportunities that come with that. Through our work with these SPVs, we are driving business growth, creating jobs, and equipping residents with the skills needed to thrive in key industries. This is the kind of progress that builds a stronger, more inclusive economy for all,’ said Alderman James Vos, Mayoral Committee Member for Economic Growth.

2024 in numbers:
•    R 6 445 489 930 in investments secured
•    15 763 jobs were created in sectors including BPO, technology, renewable energy, and clothing and textile manufacturing
•    2 987 people trained to meet industry demands and equip residents for meaningful employment

‘SPVs, funded by the City, are instrumental in driving growth in these sectors. By promoting innovation, unlocking opportunities, and supporting workforce development, they are helping to ensure Cape Town remains a competitive and inclusive business hub,’ said Alderman Vos.

Looking ahead: Expanding opportunities in 2025

Alderman Vos outlined plans to build on these successes, including refreshing the City’s investment incentives policy and further expanding business growth services into Cape Town’s industrial nodes.

‘In 2025, we will focus on continuing to align our policies and programmes with the needs of investors while continuing to drive sustainable growth. By expanding our investment facilitation services into industrial areas, we will support economic development in areas where it’s most needed.

‘Sectors such as business process outsourcing, renewable energy, and manufacturing will remain at the heart of our efforts. Through collaboration with SPVs and other stakeholders, we will unlock new opportunities and ensure Cape Town remains a leader in innovation and growth.’