Executive summary of speech delivered by Premier Winde at opening of inaugural Western Cape Investment Summit in Cape Town
Where there is investment, there is growth – and where there is growth, there is opportunity.
That is the story of the Western Cape. It’s the story of resilience, innovation, and shared ambition – a story written by every business owner, every entrepreneur, every worker, and every partner who believes in this province and its future.
The Western Cape is working
Our economy continues to show resilience in the face of global uncertainty and local constraints. While many regions are still finding their footing, we are moving forward – driven by innovation, collaboration, and a clear plan for inclusive, sustainable growth.
In 2024, our economy grew by 0.5 percent, matching the national average. But over the last decade, the Western Cape has expanded by more than 8 percent – well ahead of Gauteng and KwaZulu-Natal.
And this growth is not abstract. It’s creating jobs, building confidence, and improving lives. Of the more than 400 000 total net jobs created across South Africa in the past five years, 360 347 were created right here in the Western Cape.
With only 12 percent of the country’s population, our province accounted for 89 percent of all net job growth. That is extraordinary – and it shows that where investment flows, opportunity follows.
Investment Readiness and the Growth for Jobs Vision
We are not stopping there. Our Growth for Jobs Strategy is leading our charge toward a R1 trillion economy by 2035.
To achieve that, we must triple Western Cape exports to R450 billion and increase private sector investment to 20 percent of our GDP. It’s ambitious – but we are purposefully ambitious in the Western Cape.
We do not wait for change to come to us. Through platforms like this summit, we go out and make it happen.
Everywhere you look, you can see that energy – the cranes on the Cape Town skyline, the expanding industrial parks in Saldanha and Atlantis, the new tech hubs emerging from Stellenbosch to George.
This is a province that is ready for investment – with world-class infrastructure, strong governance, and a proven ability to turn plans into performance.
We are home to three ports, over 30 000 kilometres of well-maintained roads, and more than 1 000 kilometres of fibre internet line. Our Atlantis SEZ and Freeport Saldanha IDZ are magnets for green manufacturing and logistics.
And of course, at Cape Town International Airport – rated the best airport in Africa for more than five consecutive years – we now have more than 200 international flights touching down every week.
Through the Cape Town Air Access initiative – since September 2022, 7 new airlines and 7 new routes have been introduced into Cape Town and the Western Cape. In 2024 alone, over 3 million international passengers passed through this airport – a 10% increase from 2023.
And of course, the upcoming Cape Winelands Airport will open a new gateway to trade and tourism – proof that we are not just growing but building the infrastructure for years to come.
The Eight Growth Opportunity Sectors
Our Growth for Jobs strategy identifies eight key sectors that are poised for rapid expansion – eight industries where the Western Cape already leads, and where we are now unlocking the next wave of investment and job creation. Each one reflects our core belief: Where there is investment, there is growth – and where there is growth, there is opportunity
Technology and Digital Innovation
We are Africa’s leading BPO hub, capturing 60% of the national market and growing at over 10% annually – outpacing global averages. Our sector employs thousands of young people with world-class customer service skills, neutral accents, and digital fluency.
But technology here extends far beyond call centres.
Our mechatronics sector, supported by Stellenbosch, UCT, and CPUT, is powering the next generation of robotics, drones, and advanced manufacturing. And in aerospace, Western Cape exports of aircraft and spacecraft parts have grown 34% a year since 2020 – one in every five satellites in orbit contains components made by a Western Cape company.
Green Economy and Sustainability
Renewable energy is not just part of our plan – it is the plan.
Through our Energy Resilience Programme, we aim to enable 5 700 MW of non-Eskom generation by 2035. Already, 819 MW has been added in the past financial year, with another 1 000 MW on the way.
We are capturing 70% of South Africa’s renewable energy component manufacturing, and exports of photovoltaic panels into Africa have surged by over 500% since 2022.
Add to that the explosive potential of green hydrogen – the Western Cape’s next major export industry. The R47 billion Saldanha Bay hydrogen project will make this province a continental leader, with forecasts showing up to R87 billion in GDP contribution by 2050.
Agribusiness and Food Systems
From fruit exports to functional foods, the Western Cape’s agricultural ecosystem is unmatched.
We are Africa’s top exporter of agri-processed products, and our natural products and cosmetics industry is growing fast – driven by global demand for rooibos, buchu, and other indigenous botanicals.
Afriplex’s EU-certified facility in Paarl has already shipped South Africa’s first batch of medicinal cannabis oil to Europe, while the Cederberg region’s rooibos enjoys EU protected designation status.
Manufacturing and Industry
Manufacturing remains one of our largest and most diverse sectors, contributing R85 billion to provincial GVA.
From mechatronics to marine manufacturing, the Western Cape is building with purpose.
Our boatbuilding industry now accounts for 70% of South Africa’s marine manufacturing capacity, ranking second in the world for catamaran production and growing over 20% a year.
Meanwhile, the Atlantis SEZ is powering industrial growth, offering a 15% corporate tax rate and duty-free imports for renewable and advanced manufacturing components.
Tourism and the Experiential Economy
South Africa was ranked Africa’s leading country for tourism development by the World Economic Forum in 2024. International arrivals to Cape Town grew by 43% in 2023, surpassing pre-pandemic levels.
The Western Cape offers a globally competitive tourism product – 33 Blue Flag beaches, 3 UNESCO World Heritage Sites, 10 Ramsar wetlands, and a year-round climate that draws visitors from across the globe.
Property and Retail
The cranes on our skylines tell the story of confidence.
In Cape Town alone, 2024/25 property investment stands at R9 billion, with the city contributing 72% of provincial GDP.
Our construction sector has grown against the national trend – creating 57 000 new jobs in the last five years, even as other provinces shed them.
Creative Industries
The Western Cape is the creative engine of South Africa.
Our film, fashion, design, and digital arts sectors are booming, exporting culture, innovation, and identity to the world.
Supported by strong educational institutions and a growing network of creative hubs, this sector directly connects to our tourism, digital, and cultural economies, generating jobs for young people and amplifying our global brand.
Logistics and Warehousing
None of this growth happens without world-class logistics.
The Western Cape is Africa’s top performer on the World Bank Logistics Performance Index, ranking 19th globally.
We have over 3 million square metres of A-grade logistics and warehousing space, and our ports handle nearly 70 million metric tons of cargo each year.
The Cape Winelands Airport, a R7.9 billion investment, will add 55 000 tons of new airfreight capacity, while Maersk’s new 40 000 m² cold storage.
Governance, Partnership, and Momentum
Strong governance remains our foundation.
The Western Cape Government has achieved three consecutive years of unqualified audits across all departments and entities, and 59% of South Africa’s clean-audit municipalities are right here in our province.
We’ve worked hard to make investment easier – through our InvestSA One-Stop Shop and Red Tape Reduction Unit – and we welcome the fact that South Africa has now worked its way off the Financial Action Task Force grey list.
Conclusion
So, as we look ahead, let’s return to the thread that runs through everything we’ve discussed:
Where there is investment, there is growth – and where there is growth, there is opportunity.
Every one of these eight sectors represent that truth in action. They are not just industries – they are opportunities for partnership, innovation, and shared prosperity.
The Western Cape is ready. The foundation is strong, the vision is clear, and the momentum is real.
To every investor here today: invest in the Western Cape. Invest in a province that delivers, that keeps its promises, and that turns potential into performance.
Together, we are not waiting for the future – we are building it.