KZN’s R200bn boast for Cyril

KWAZULU-Natal may well impress President Cyril Ramaphosa later this month with a solution to stimulating growth and creating employment – with a R200 billion investment plan.

The economic affairs department yesterday released a user-friendly handbook, outlining 25 projects spread across the province that were ready for investment.

The projects will be presented to Ramaphosa later this month when provincial heads will meet at his investment summit in Joburg. Ramaphosa embarked on a $100 billion (R1.4 trillion) investment drive, hoping to lure foreign and local investors.

KwaZulu-Natal is putting forward projects such as the Durban Point Waterfront, Anant Singh’s Film City, several eco-estates and many large manufacturing businesses on the table for investment.

Phumzile Langeni, a member of Ramaphosa’s special presidential envoy on investment, said the province’s projects would help achieve the target of attracting $100bn worth of investments in the next five years.

“We commend the province for responding positively to the President’s call to put more efforts in attracting investments to grow the economy and create jobs,” Langeni said.

MEC for Economic Affairs Sihle Zikalala said: “We are excited that the investment opportunities will create 800 000 temporary jobs during the construction and development phase of the projects and a further 410 000 permanent jobs in the short to long-term.”