Gauteng, the economic hub of South Africa, makes the biggest contribution to the country’s Gross Domestic Product (GDP).
According to a statement released by the Gauteng Provincial Government, the province has reaffirmed this position by attracting Foreign Direct Investment (FDI) to the value of R199 billion, and creating 469 000 new job opportunities through private/ public participation in the past five years.
During his State of the Province Address (SOPA), the premier of the province, David Makhura, noted that the manufacturing sector was the biggest contributor to both this investment and the job creation initiative.
In 2015, BMW invested R6 billion in its Rosslyn plant for the production of the X3 BMW model, creating 1 000 additional jobs.
Ford invested R2 billion in 2016 at its Silverton plant, creating 1 200 new jobs. At the same time, Iveco Larimar invested R600 million in its Rosslyn bus-building plant, creating 1 000 new jobs.
“The joint sector-based initiatives between government and business are beginning to unlock the growth and job creation potential of different regional economies or corridors. This is social impact in action,” said Premier Makhura.
Makhura unveiled new ventures that would develop the economy as well as help minimise the scourge of unemployment in Gauteng.
The new ventures incorporate more than R6 billion from Anheuser-Busch InBev (ABInBEv) in Vereeniging, which is relied upon to create 1 000 new jobs. Moreover, there is a major investment of R6 billion due by the Silverton Automotive Hub, which, when settled, is going to make 2 255 direct employment opportunities, plus 19 433 construction jobs.
