Western Cape investment surge – businesses commit R14,6 billion
By Staff Writer
ACCORDING to Wesgro’s latest annual report, businesses have committed to investing R14,6-billion in the Western Cape, a move projected to create over 11 700 jobs in the province during the 2024/25 period.
The investment support agency exceeded its internal targets, having aimed to attract and facilitate
R4 billion in committed investment and
2 000 jobs for 2024/25.
The Western Cape has long worked to establish itself as an attractive investment destination for local and international investors. It managed to attract 0,06% of global investment over the three-year period from 2022 to 2025 and has set a goal of attracting R200-billion in global investment by 2035.
Wesgro reported that of the 14 investment declarations in 2024/25, about 42% were in the green economy. These investments are in sectors such as green manufacturing, the circular economy, sustainable agriculture, e-mobility, and renewable energy.
A key example is the R4,9-billion investment by renewable energy firm NOA Group, which is expected to create 200 jobs. NOA Group committed to building a 94,5MW wind energy project, the Wind Garden, and secured a 20-year deal to supply renewable electricity to Redfine Properties in June. This investment adds to the R50,33-billion already invested in the region’s renewable energy sector.
Another significant investment for the period is the R4,9-billion Devonbosch property development in the Stellenbosch Winelands, which will comprise modern duplexes, apartments, and penthouses.
In addition to Devonbosch, Concor Construction is set to invest R3-billion in real estate in Cape Town. The group has committed to developing The Signal, a residential block within the Conradie Park mixed-use development next to Pinelands.
The province also attracted a R600-million commitment from the Ivili Group, a textiles manufacturer, which is expected to create about 600 jobs.
The green economy received a further boost with Zimi Charge investing R90-million in electric vehicle charging stations in the Cape Winelands.
In the education sector, the Calling Academy School is building a R30-million campus in Paarl, and Spark Schools has committed to building a R120-million facility in Cape Town.
Wesgro noted that two-thirds of the investment value flowed into district municipalities, indicating growing geographic diversification. Leads in districts now constitute about 30% of its pipeline.
The news that Wesgro attracted R14,6-billion in 2024/25, builds on its record of drawing international investment to the region. In its 2023/24 annual report, the agency stated it had secured R139,6-billion in investment from 269 global companies and created 17 822 jobs between January 2014 and December 2023.
Beyond attracting new investment, Wesgro also stated it played a role in retaining existing businesses in the province, though it did not elaborate.
“Notably, the agency helped retain the largest private sector employer in Saldanha Bay (Sea Harvest) and a vegetable farming business (Green Growers) in Genadendal, in the Overberg.
“Our focus has been on ensuring that Western Cape businesses remain confident about the future of the province and are supported to reinvest wherever possible.”
