KZN pre­pares to host Africa WEF in May

The Star Early Edition - - BUSINESS REPORT -

THE CITY of eThek­wini will from May 3 to 5 host the African leg of the World Eco­nomic Fo­rum (WEF) with the KwaZu­luNatal prov­ince stand­ing to ben­e­fit to the value of R155 mil­lion and 512 jobs ex­pected to be sus­tained or cre­ated from the event. The gath­er­ing will con­vene re­gional and global lead­ers from busi­ness, the gov­ern­ment and civil so­ci­ety to ex­plore so­lu­tions to cre­ate eco­nomic op­por­tu­ni­ties for all on the con­ti­nent. Sihle Zikalala, Kwa-Zulu-Na­tal’s eco­nomic de­vel­op­ment, tourism and en­vi­ron­men­tal af­fairs MEC, said yes­ter­day that the prov­ince had lob­bied to host the event as to en­hance the brand eq­uity of both the city and the prov­ince. “The at­trac­tion of for­eign di­rect in­vest­ment is a vi­able strat­egy for grow­ing the econ­omy and for solv­ing such chal­lenges as un­em­ploy­ment, the ac­qui­si­tion of skills and tech­nol­ogy trans­fer,” Zikalala said. WEF Africa would come four months af­ter the con­clu­sion of the 47th WEF an­nual meet­ing held in the Davos last week, where world lead­ers and busi­ness lead­ers gath­ered to ad­dress prob­lems fac­ing the global com­mu­nity. Zikalala said host­ing WEF Africa formed part of the prov­ince’s Meet­ings, In­cen­tives, Con­ven­tions and Ex­hi­bi­tions (Mice) strat­egy. The Mice strat­egy was ex­pected to gen­er­ate the prov­ince R1.1 bil­lion in di­rect in­vest­ment, which it ex­pects it to trans­late into R2.2bn in macro-eco­nomic im­pact over three years. – Ka­belo Khu­malo

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