Trade, Industry and Competition Minister Parks Tau said 141 companies have committed to invest in South Africa’s Special Economic Zones. He said their combined investment is worth more than R548 billion.
According to the minister, these investments will create more than 60 000 permanent jobs once the projects are running. Tau spoke on Tuesday at the Fetakgomo-Tubatse Special Economic Zone in Steelpoort, Limpopo.
“Different SEZs across the country are host to 234 private companies, with a combined investment value of over R47 billion. The SEZs Programme has created 134 478 jobs, of which 32904 are permanent,” Tau said.
The minister addressed investors and stakeholders at a ministerial meeting. The government said the meeting brought together national and provincial government, local stakeholders, industry and traditional leaders to discuss the zone’s development.
Tau said investors have shown confidence in the programme and in South Africa as a place to invest. He said new zones in Nkomazi, Fetakgomo-Tubatse and Musina Makhado have started building bulk infrastructure.
According to Tau, these new zones are meant to drive cross-border trade and mineral processing. He linked them to the goals of the African Continental Free Trade Area.
The Fetakgomo-Tubatse zone was designated in May this year. Tau said it has an investment pipeline of R52.6 billion. He said it is expected to create about 8 000 jobs in the short to medium term.
The minister said the zone could create up to 20 000 jobs over 10 years.
“This zone sits between the Lion and Samancor ferrochrome smelters and is surrounded by some of the country’s major platinum and chrome operations,” Tau said.
He said the zone was planned for mineral processing, metal work, manufacturing, renewable energy, and the logistics and services that support them.
Tau said the country’s industrial policy is to process more of what it mines. He said South Africa must also make more of what it uses and export more of what it makes.
Limpopo’s MEC for Economic Development, Environment and Tourism, Dr Tshitereke Matibe, spoke on behalf of Premier Dr Phophi Ramathuba. He said the provincial government remains committed to developing the zone.
“Our provincial government has committed R445 million towards infrastructure development,” Matibe said.
“Our vision is to ensure that minerals extracted in Limpopo create greater economic value within our province,” he said.
Matibe said the province wants to move towards processing, manufacturing and producing goods that support local supply chains and lasting jobs.
He said the zone gives the province a chance to build an economy that creates jobs and develops skills. He said it should also support local businesses and open up opportunities for people living near the zone and beyond.
Source: this article is based on reporting by SAnews.gov.za. Image: GCIS via SAnews.gov.za. Written with the help of AI and published by the Tzaneen Voice Business desk. See our Editorial Standards.
Anelisa Nkuna covers business and money news for Tzaneen Voice. Anelisa reports on the rand, fuel prices, interest rates, jobs, Eskom, Transnet, farming and company results. The aim is simple: explain what the numbers mean for household budgets, small businesses and workers in South Africa.