City’s Economic Growth budget to power job creation through investment, business growth
The City of Cape Town has approved an R868 million budget for the Economic Growth Directorate for the 2026/27 financial year, driving support into programmes that attract investment, strengthen businesses, create employment opportunities and ultimately grow Cape Town’s economy.
The officials of the Economic Growth Directorate, the Economic Growth Portfolio Committee and I have worked together to develop a budget that reflects our priorities for the coming financial year. Every allocation has been carefully considered to ensure that our resources are focused on practical programmes and initiatives that support economic growth, unlock investment and create more opportunities across Cape Town.
These priorities have been shaped by our regular engagements with businesses across Cape Town. Whether visiting factory floors, meeting entrepreneurs, engaging investors or sitting down with business leaders, the message is consistent: government must be a partner in economic growth by reducing unnecessary systemic barriers, supporting enterprise and creating an environment where businesses can invest and expand with confidence.
Our mission is straightforward: to make the unemployment queue shorter. Every programme in this budget has been designed to support that objective. By attracting investment and upskilling Capetonians, we are creating more economic opportunities for businesses and residents alike.
Some of the highlights of the budget include:
- Funding will continue to support the City’s strategic partnership with Wesgro to deliver programmes that attract more international flights, expand cruise tourism, strengthen cargo connectivity and grow exports through initiatives such as the Cape Trade Portal. These programmes connect Cape Town businesses to new markets, thus supporting tourism, trade and investment, generating billions of rand in economic impact.
- Furthering the Business Hub initiative that includes a range of programmes to help businesses take their first steps, grow and expand. This includes business retention and expansion initiatives that proactively support businesses operating in our industrial areas, helping them overcome challenges, unlock investment opportunities and create more jobs.
- Support for investment promotion and place-marketing initiatives that position Cape Town as the leading destination in Africa to live, work, visit, study, invest and play. By promoting Cape Town in key international and domestic markets, we aim to attract new investment, boost priority sectors and unlock further economic opportunities.
- Driving the implementation of Cape Town’s Ease of Doing Business Index, which measures how efficiently the City delivers services that businesses rely on. By identifying bottlenecks, reducing red tape and improving turnaround times across City departments, we are making it easier to invest, expand and work in Cape Town.
- Providing continued investment in public trading infrastructure and projects across Cape Town, creating safer, more dignified and business-friendly trading environments for informal traders. These investments strengthen local economies while giving informal businesses the infrastructure they need to grow and succeed.
- Investing in workforce development programmes to ensure more Capetonians are equipped with the practical skills needed across industries. This includes the Jobs Connect programme, which links work seekers and employers through a free online platform. Employers can advertise vacancies at no cost while job seekers create profiles and apply for available opportunities. By making it easier for businesses to find talent and for residents to connect with employment opportunities, Jobs Connect helps more people enter the workforce.
- Making suitable City-owned land available for residential, commercial and industrial development while supporting strategic asset optimisation projects. These initiatives unlock investment, stimulate economic activity, encourage development, and create employment opportunities while ensuring City assets deliver greater value.
- Funding has been allocated to continue investing in important City assets such as Athlone Stadium, the Green Point Athletics Track, City Hall, the Grand Parade and the Green Point Urban Park. These facilities are important economic, sporting, heritage, environmental and tourism assets that contribute to Cape Town’s competitiveness and long-term growth.
- Ongoing investment in strategic Special Purpose Vehicles (SPVs) that drive the growth of high-potential sectors of the economy. These partnerships deliver skilled workforce programmes, investment promotion, and support business expansion. Funding supports industries including business process outsourcing, marine manufacturing, clothing and textiles, technology, green energy and information and communication technology (ICT).
- Supporting tourism development so that it remains one of Cape Town’s strongest economic drivers. Through destination marketing, experience development and strategic partnerships, we are working to attract more visitors throughout the year. More visitors support local businesses, generate economic activity and create jobs across the tourism and hospitality value chain.
Working alongside businesses and industry partners, we will continue implementing practical programmes that strengthen Cape Town’s economy, unlock investment, create jobs and more opportunities for residents.
Economic growth does not happen by chance. It requires meaningful partnerships, focused investment and a clear commitment to creating an environment where businesses can succeed. That is exactly what this budget delivers, and I look forward to working with colleagues and City partner organisations to drive these priorities in the year ahead.
