Gauteng businesses attract R356bn in foreign direct investment
Image: Veli Nhlapo
Businesses operating in Gauteng have more than 300 foreign direct investment (FDI) projects worth R356bn across the continent.
This is according to premier David Makhura who was delivering his last state of the province address of his administration at the Alberton Civic Centre in Alberton on the east rand on Monday.
“I am happy to report that all the aforementioned initiatives in the township economic mainstream economy, infrastructure development and inter-Africa trade have helped us to create new jobs and sustain existing ones,” said Makhura.
The premier said these FDI projects have created and sustained more than 45,000 jobs in the province, while contributing to the continent's industrialisation.
“According to the latest data from FDI intelligence, Gauteng has attracted R199bn of foreign direct investment in five years and this has created 30,000 jobs [during that time].”
The country attracted 96 FDI projects in 2017, and in 2016, it had attracted 139. Also in 2017, the US remained the largest investor in Africa, with a noticeable 43% growth in FDI projects, while Western Europe also built on its already strong investment into Africa, up by 17%.