The City of Cape Town’s funding support of a number of special purpose vehicles (SPVs) to facilitate investment and job creation has yielded positive results.
Between July and December 2018, the SPVs secured investments to the value of over R1.8 billion and in the process created just over 2 200 employment opportunities.
The investments and jobs created via the SPV initiative were facilitated through the Business Process Outsourcing (BPO) sector, including investments in the renewable energy, manufacturing, medical waste industries as well as the hospitality industry.
Youth from previously disadvantaged communities in the Cape Flats have benefited from the employment opportunities on offer.
The bulk of the jobs that were created in the BPO sector encompass call centres and off-shoring as a result of the value proposition offered by Cape Town as an investment destination in the following areas:
– The availability of a strong talent pool
– First World infrastructure
– An enabling environment
– Significant cost-savings
– A strong foundation in contact centres and niche areas of work
– Evolving capabilities for next-generation services for digital contact centres
“The sectors mentioned below have been identified as priority sectors due to their potential to grow and develop the City’s economy and contribute to job creation,” said the City’s Mayoral Committee Member for Economic Opportunities and Asset Management, James Vos.
“Additionally, the Information Communication and Technology (ICT) sector is also a major contributor to skills development in digital literacy.
“A total of 108 beneficiaries have been trained in ICT-related skills programmes for the period January–December 2018. The upcoming skills programme that is set to run between May and April 2019 will see a total of 154 beneficiaries being trained in BPO-related skills training programmes.”
Collectively, Business Process Enabling South Africa (BPeSA) Western Cape, Wesgro and GreenCape have facilitated investments to the value of R1.2 billion and in the process have created 2 286 employment opportunities for the period 1 July-31 December 2018.
The City’s Enterprise and Investment Department funds these SPVs and Wesgro annually to deliver sector programmes and projects that are aligned with the City’s strategic priorities.
“The City needs to do all it can to empower residents, especially youths, with skills that will help them to secure future employment.
“We cannot do this alone, therefore such partnerships will help us to achieve our objective of being a caring city that creates opportunities for its residents to help improve their lives. This is one of the ways we can eradicate poverty.
“We also have two other Expanded Public Works Programme (EPWP) skills projects in the pipeline for the current financial year and intend to upscale skills training in the BPO sector which will see 515 beneficiaries being trained. The reports for these projects will serve before council next month.
“I am confident that they will be approved. My new portfolio has the potential to ensure that we continue to be the go-to city on the African continent and globally for business, trade and tourism.
“We have a diverse economy that is creating jobs and keeping unemployment low. I will continue to build on this success by working with industries and communities to invest in projects and programmes that will drive demand and make business sense.
“My immediate priority has been to schedule engagements with key sectors and business partners to understand their challenges, and further explore growth opportunities. Together we are going to ensure optimal return from our joint efforts,” said Vos.
