Eastern Cape Premier, Oscar Mabuyane, has welcomed 11 new investors who are set to inject R46.5 billion into the provincial economy.
He delivered the keynote address on Wednesday at the Eastern Cape Investment Conference in East London.
Mabuyane said the big investors include Shoprite retail, Transnet, and Toyota, who he says will make a huge contribution to the Eastern Cape economy and create jobs.
"I wish the new investors all the success in all their operations and may they reap great profits to grow their businesses and increase employment numbers in our Province," he added.
He said that new investments take the total value of investments in the province to R168.5 bn for the 6th term of Government which he said was "a record investment windfall that has been seen in the Province in the 28 years of the democracy."
The Premier also asked Municipalities to take good care of the investors and to offer incentive packages to encourage them to stay and expand their operations
" Investors must also be serviced properly with basic services such as clean water, consistent electricity supply, and regular refuse collection. Any lapse in the provision of these basic services negatively affects investors and we can ill afford that," Mabuyane said.
Mabuyane told the conference that there are 45 investment projects in the pipeline totalling R305.6 Bn with a funding gap of R108.9 bn across all priority sectors.
"We expect the New Development Bank, and the Infrastructure Fund to share with us how they will partner with the Eastern Cape to package this pipeline," he added.
The Premier says major banks will be joining the government to take advantage of the investment pipeline.
