New unit will drive investment in city

eThekwini Mayor Cllr Zandile Gumede

IN an determined effort to drive economic growth through attracting new investment projects, boost investor confidence and improve ease of doing business in eThekwini Municipality, Mayor Zandile Gumede officially launched the new Invest Durban Unit and Strategy at the Durban International Convention Centrelast week.

The Invest Durban Strategy, driven by partnerships between eThekwini Municipality and the private sector, plus other organs of government, aims to help promote Durban as Africa’s preferred investment destination. Invest Durban will provide advisory services and support for new and existing foreign investors so that they can easily capitalise on opportunities and best locations for such.

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Addressing captains of industry and senior executives representing various spheres of Government as well as the Diplomatic Community at the launch, Gumede said the Invest Durban Team would have significantly increased resources, capacity and leadership support to attract, retain and grow investment in the city’s core sectors.

“In partnership with our other Cluster Units, the Invest Durban Team will also ensure valuable linkages from the new foreign investments into our local Small, Medium and Micro-sized Enterprises, plus Community Participation Groups. We are working towards ensuring that more new investments are spread across the City, including our townships and rural areas,” she said.

Invest Durban Unit will work closely with the Department of Trade and Industry including Invest SA, Trade and Investment KZN (TIKZN), the Durban Chamber of Commerce and Industry, the KZN Growth Coalition, and State Owned Enterprises such as Dube Trade Port, the Development Bank of South Africa, Industrial Development Corporation, Eskom and others.

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Key Partners include the largest banks, audit and advisory firms as well as sector based organised business bodies working together to promote investment in Durban.

Acting Deputy City Manager for the Economic Development Cluster, Phillip Sithole, said the “step-change” strategy and expanded Unit would benefit Durban and positively impact smaller, local businesses as well.


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