520 new jobs generated in Cape Town
A report has revealed that the agencies the City of Cape Town has invested in to generate economic and employment growth have enabled over R550-million in investment value and created 520 jobs for locals between January and March this year.
Mayco Member for Economic Opportunities and Asset Management James Vos says that the City’s special purpose vehicles (SPVs) have played a pivotal role in increase job opportunities in the city: “The most recent quarterly report on the performance of Wesgro and the City’s special purpose vehicles (SPVs) has revealed that an investment value of more than R550-million was facilitated into Cape Town’s economy.”
SVPs are businesses which are funded by the City’s Enterprise and Investment Department, such as GreenCape, Business Prices Enabling South Africa (BPeSA) and Wesgro. These enterprises are aimed at stimulating key sectors in the city’s economy. These businesses focus on various sectors including business process outsourcing, renewable energy, technology, medical waste, and real estate.
404 residents who are most in need benefited from the skills development opportunities offered at the SVPs, creating better quality of life for families across the city. SVPs have created an enabling space for business, skills development and the promotion of Cape Town as a trade and investment destination in the world….
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