Western Cape Investment and Trade Promotion Agency (Wesgro) had obtained more than R1.5bn (approx. $217m) investments for the Western Cape region over the past financial year, creating 325 new jobs and exceeding of R500m the investments secured in 2009/10.
“This improvement was achieved against the backdrop of difficult global market conditions where the main market characteristics were uncertainty, the lag effect of the global financial crisis and tight credit conditions” said Ebrahim Khan, WESGRO acting Head of Investment Promotion. “Inflows into South Africa fell by a material 77,9% and inflows into Africa are estimated to have dropped by 14% to $50-billion in 2010 illustrating the effect of the global crisis”.
