Gauteng remains open for business, amid socio-economic realities

Despite the economic challenges of recent years, exacerbated by the energy crisis, and resultant economic hardships, Gauteng remains the most industrialised and diversified economy in South Africa, and importantly on the continent. It also boasts modern communication, banking, road and general logistics infrastructure that is unmatched, and has the requisite economic fundamentals to begin a steady economic recovery as many global markets begin to emerge from several difficulties that South Africa is facing today.

Koketso Tamale, the Head of investSA Gauteng, a one-stop-shop platform which is positioned within the Gauteng Growth and Development Agency (GGDA), says that Gauteng’s business fraternity should remain energised to ensure that the province does not miss a beat and the opportunity to unlock growth in tandem with other markets around the world to stimulate economic activity and attract investor interest.

“We must showcase various investment opportunities and infrastructure development to create hundreds of thousands of job opportunities and skills development. It is important for us to consistently create awareness about the benefits of localisation which paves the way for a rapid energy transition that will open more space for independent power producers,” she says.

Gauteng has for many years been a leading tourism destination in Africa. Significantly, it has managed to position itself as a major recipient of Africa’s biggest share of the global Meetings, Incentives, Conferences, and Events (MICE) market. With the gradual growth in international travel and steady rise in the volume of international flights, the province  stands to benefit handsomely from the recovering tourism market, working with broader hospitality and tourism industry partners, to ensure the safety of travellers leaving the province and those who arrive from around the world. It is also expected that as the global business tourism sector gears up for growth, Gauteng’s many attractions and business meetings facilities will experience anticipated growth in bookings and activity.

Other investment opportunities can be found in:

  • Agriculture and Agro-processing: Gauteng provides opportunities throughout the entire food value chain space, from food production to retailing, and exports some of the best agricultural products to other countries in Africa and across the world.
  • Mining and Mineral beneficiation: Known for its massive deposits of gold, diamonds, uranium, platinum, etc. Gauteng has the most developed mining infrastructure on the continent. Opportunities in the beneficiation of minerals into finished products for the export market are yet to be maximised.
  • Manufacturing: This has been one of Gauteng’s biggest economic sector for many years, thanks to its advanced road, and rail infrastructure.
  • Gauteng’s Services Sector has also grown exponentially in recent years. From the gig economy to call centres, the province boasts a solid services sector which includes shares services, machine learning, and customer services.

A province of promise and possibilities

“Like much of South Africa, Gauteng has a relatively young and eager labour force that is hungry for opportunities to be mobilised into productivity. It also has the largest presence of multinationals and the most diverse professional expat community in South Africa and most arguably on the continent. They all enjoy an excellent quality of life, with access to world class healthcare and other cutting-edge, modern facilities in all of the province’s Metropolitan areas. Gauteng is more than ever before eager to reclaim the place many had feared it was losing as the most vibrant emerging economy in Africa,” Tamale concludes.