The City of Cape Town has tabled an R875,4 million draft budget for the Economic Growth Directorate for the 2025/26 financial year. This funding will drive key projects and programmes designed to boost investment, create jobs, and make it easier to do business in Cape Town. The public have until 2 May 2025 to comment on the proposal.
In crafting this budget, I have worked closely with City teams across the various departments in the Economic Growth Directorate to identify the right mix of initiatives that will deliver real economic impact. Our focus is clear: we want to make that unemployment queue shorter and create the conditions for businesses, big and small, to thrive. That means ensuring streamlined processes through our Ease of Doing Business Index, cutting red tape, and unlocking opportunities that will drive economic growth across key sectors.
Some of the highlights of this draft budget include:
∙ Expanding Cape Town’s air and sea access:
Increased funding will enable Cape Town to land more flights and cruise liners, which directly benefits tourism, trade, and cargo logistics. These efforts are unlocking billions in economic impact.
∙ Boosting small businesses and entrepreneurs:
Our support for thousands of small businesses through the City’s Business Hub, sector-specific growth initiatives, and enterprise incubators is helping local entrepreneurs thrive.
∙ Creating business-friendly markets for informal traders:
Capital investment is being made in Area Economic Development projects to provide dignified and business-friendly trading spaces for informal traders. This includes upgrades to key markets, such as the Mitchells Plain Town Centre, the Nyanga Junction, and the Bellville Public Transport Interchange, ensuring that informal businesses have the infrastructure needed to grow and succeed.
∙ Skills development and job readiness:
Investments in key job training programmes, such as our successful call centre training initiative and Jobs Connect Programme, we are equipping Capetonians with in-demand skills, ensuring they are work-ready for opportunities in high-growth industries.
∙ Catalysing strategic investment through asset optimisation and land release: We are making more land available for residential, commercial and industrial development, driving economic activity while ensuring that these projects contribute to job creation and service delivery. This includes assisting with administrative asset beneficiation for multi-use development.
∙ Investing in strategic assets:
The City is allocating funding to continue investing in strategic assets, such as the Athlone Stadium, Green Point Athletics Track, City Hall and Grand Parade, and the Green Point Urban Park, recognising their significant economic, environmental, sporting, and tourism value. These assets play a crucial role in Cape Town’s long-term growth and attractiveness as a global city.
∙ Funding industry-specific business partnerships:
We are strengthening high-growth sectors by providing funding to key industry partners that drive development in marine manufacturing, clothing and textile production, technology innovation, business process outsourcing, and more. These sectors are job-intensive and provide opportunities for thousands of Capetonians.
∙ Growing the visitor economy:
With a focus on tourism marketing campaigns and innovative experience-based offerings, we are increasing visitor numbers, boosting local businesses, and driving employment in the hospitality sector.
This draft budget aligns perfectly with the Mayoral Priorities and represents an investment in hope, action, and tangible results. By driving a business-friendly environment that attracts investors and creates opportunities for job seekers, we are shaping Cape Town’s future as a thriving city of opportunity.
I encourage all residents and stakeholders to engage with the draft budget and share their input as we refine these proposals. Together, we are investing in a thriving economy that benefits every Capetonian.
Comment on the draft Budget
To comment on the budget before 2 May visit www.capetown.gov.za. On the landing page you can click on our budget trending box for all the information you need.
