World Economic Forum Media Tour with Minister Maynier

Minister of the Presidency, Jackson Mthembu,

Deputy Minister of the Presidency, Thembi Siweya,

Representatives of the media,

And special guests,

Good morning to you all.

As the Western Cape Government we welcome the delegates attending the World Economic Forum on Africa to Cape Town and the Western Cape.

We are delighted to be hosting leaders from around the world as they hold important discussions about the future of the continent right here in the Western Cape – the gateway to a rising Africa.

There is an abundance of investment opportunities in a variety of sectors that we’d like delegates to consider across Africa, South Africa and the Western Cape. There is more to Cape Town and the Western Cape than meets the eye. We are a beautiful place to visit but also a top business destination, and an economic powerhouse on the African continent.

The theme for the meeting, “Shaping Inclusive Growth and Shared Futures in the Fourth Industrial Revolution” couldn’t be more pertinent to our time.

With this theme in mind it is fitting that we are starting this morning’s event at Workshop 17 – the heart of the Silicone Cape Initiative which aims to foster a high-technology district in the Western Cape and enable tech-based start-ups in the region.

After this, the media tour will take you to Hisense – a Chinese consumer electronics company that entered the South African market in 1996, and then chose to further invest in the Western Cape by launching a R350 million, state of the art consumer electronics and home appliance manufacturing facility in Atlantis industrial park.

Following that, you will be taken to see the Cape Town Film Studios -  a world-class, custom-built, Hollywood style, film studio complex and the first-of-its-kind in Africa. It is the dedicated hub for media, new media, entertainment, film and related industries in Sub-Saharan Africa.

All great examples of how the Western Cape is leading the way in attracting investment into the province.

In fact, we’ve attracted over 299 foreign direct investment projects in the last 10 years alone, totalling US$ 7,6 billion.

We are also the location of the fastest growing green economy in Africa, with 70% of all South African renewable energy manufacturing taking place in the Western Cape.

And we are a global exporter, with total exports from the Cape to the rest of Africa amounting to over US$ 3,2 billion, with the province being the 5th largest global exporter of agricultural goods in Africa.

As the Western Cape government, we continue to embark on innovative programmes of action as we seek to build economic resilience, inclusion and growth to ensure job creation opportunities.

However, there is always more that can be done.

We have to confront the fact that thousands of people, especially young people, do not have jobs, or have given up looking for jobs, in the Western Cape.

And so engagements such as the World Economic Forum on Africa presents a great opportunity for the sharing of ideas, especially with regards to skills development and opportunities for young people.

I look forward to meeting yourselves, and with the delegates of the World Economic Forum on Africa, to discuss the significant challenges that the continent faces, together with potential solutions.

I wish you all many fruitful discussions this week, and may you be inspired during your stay in our beautiful province.

I thank you.