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Press release: Government leaders impressed with investment pledges projects in Kwazulu-Natal

2023-08-07 14:08:12

The Deputy Ministers in the Presidency, Mr Kenneth Morolong and Ms Nomasonto Motaung today led a media tour in KwaZulu-Natal to showcase on-going investment projects in the province. Deputy Ministers Morolong and Motaung visited the Serenity Hills R800 million eco-estate and the R500 million-rand Renishaw Coastal Precinct projects, and were impressed by the progress and impact of the two projects in their respective areas.

Speaking during a post-media tour briefing at the Renishaw Coastal Precinct in Scottburgh, Morolong said the community programmes that are linked to the two projects at were making a significant impact in the lives of those who were previously unemployed.

According to Morolong, the skills and entrepreneurial opportunities that have been created for young people at both Serenity Hills and Renishaw Coastal Precinct are very impressive.

“The investments of both Serenity Hills and Renishaw Coastal will make a serious economic transformation for the country. Government is also committed to continue mobilising investments for both domestic and internationally in order to create sustainable jobs for the future of this country,” he said.

The Chief Executive Officer of Trade and Investment KwaZulu-Natal (TIKZN), Mr Neville Matjie said he was pleased to see the progress registered by both projects which he described as important investments for the province./p>

“We have worked with both projects, coordinating the unblocking of bottlenecks in municipal processes so that the developments could run smoothly and timeously. As the provincial investment promotion agency, we reiterate that KwaZulu-Natal is open for business. We will continue to work and showcase the province’s competitive advantage and position as a world-class investment destination,” added Matjie.

The first project, which was visited, the Serenity Hills R800 million eco-estate in Margate, is meant to attract foreign investment while uplifting local communities in the mid-South Coast. It has been included in the South African Economic Reconstruction and Recovery Plan after being honoured by President Cyril Ramaphosa at the 5th  South African Investment Conference in April this year.

The second project that was visited, namely Renishaw Coastal Precinct, is a 1 300 hectares mixed-use development on the KwaZulu-Natal  mid-South Coast. It is considered one of the country’s biggest developments underway.

South Africa hosted its fifth South Africa Investment Conference (SAIC) in April 2023 in Johannesburg. This conference was the final leg of the current investment drive to attract R1.2 trillion over five years.

Of the 152 investment announcements made previously, 45 projects have already been completed, while a further 57 projects are currently under construction. These investments have resulted in new factories, call centres, solar power plants, undersea fibre optic cables, expansion of production lines and the adoption of new technologies.

Issued by: The Department of Trade, Industry and Competition (the dtic) and Trade & Investment KwaZulu-Natal (TIKZN).


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