Gauteng Investment Conference secures over R312bn in commitments for economic growth

The inaugural Gauteng Investment Conference on Thursday charted a promising course for economic revitalisation in South Afroca's financial and economci engine.

Gauteng contributes more than 34% to South Africa’s Gross Domestic Product (GDP), making it the country’s economic powerhouse.

With ambitions to attract R800bn in investments over the next five years, including a foundational goal of securing R300bn in commitments from the conference, the Gauteng Provincial Government is poised for transformative development.

Lebogang Maile, Gauteng MEC for Finance and Economic Development, provided a snapshot of ambitious infrastructure projects within five strategic development corridors of the province.

This initiative encompasses 117 public-sector-led projects, boasting a cumulative investment value of R239.01bn, and aims to create over 114 852 jobs, significantly impacting livelihoods across Gauteng.

Maile said the provincial government’s proactive efforts at the conference were met with enthusiastic responses from local and international investors alike as the conference had surpassed its initial target, securing R312.5bn in investment pledges, R12.bn more than anticipated.

Maile elaborated on the geographical distribution of the pledges, noting significant contributions from South African investors amounting to R179bn and R51.4bn from the US. The European Union joined the fold with pledges from France and Estonia totalling approximately R2.8bn, while the UK committed R30bn and Switzerland R650 million.

Other notable contributions included R4.9bn from India, R5bn from Pakistan, and a promising R1.8bn from Australia. Meanwhile, China contributed R2bn, and multinational companies pledged just more than R34.7bn, demonstrating global confidence in Gauteng's investment climate.

A total of 60 projects across 15 sectors have already benefitted from these investment pledges, prominently featuring in the agro-processing and manufacturing sectors, which are pivotal to Gauteng's re-industrialisation strategy.

The transport and logistics sector received a substantial R39.7bn, while the property development sector attracted a staggering R123.7bn in investments. Meanwhile, efforts to secure water and sanitation improvements saw a pledge of R144m, and R5bn was committed towards the aviation sector, a key component of the Aerotropolis project within Gauteng's burgeoning economy.

In reaffirmation of its commitment to economic development, the Gauteng Provincial Government stressed the importance of creating a conducive business environment. The pledges announced at the conference align with initiatives highlighted in the 2025 State of the Province Address and Budget Speech, prioritising reliable infrastructure, good governance, and the enhancement of regulatory frameworks.

MEC Maile emphasised the importance of accountability in these pledges, ensuring that the provincial government will streamline business processes, invest in public-private partnerships, and continually focus on infrastructural development.

"The investment drive that began at the Gauteng Investment Conference will continue until the R800bn target is reached and surpassed," Maile said.

"This investment will facilitate economic development, improve the quality of life of residents, provide sustainable jobs, alleviate poverty, improve water and energy security and build an economy that grows in the hands of communities."

Minister of Trade, Industry and Comeptition, Parks Tau, called for the Gauteng province to provide leadership in unlocking the opportunities provided by the African Continental Free Trade Act, utilising its economic hubs.

"We have repeatedly mentioned the numbers. Gauteng in particular is a leading hub and a gateway for a market of 1 billion people in Africa. This opportunity can only be fully leveraged by building internal resilience," Tau said.

"The challenge is put to the Gauteng Government to improve operational efficiency across industrial zones and simplify regulatory compliance utilizing institutions like the InvestSA one stop shop. We need to work together in an all-of-government approach to leverage financial instruments to mitigate risks brought on by changing tariff structures."

Deputy President Paul Mashatile said that different government leaders needed to keep working together to make Gauteng a strong and thriving province for all its people.

"We need to emphasise that we are committed to building a future for Gauteng that is marked by sustained and impactful economic growth, this notwithstanding some of the challenges that we face as a country and globally.

"As a result and through many studies, we are pleased to witness that Gauteng has now developed long-term plans and innovative ideas. This plan includes, among other things, the Growing Gauteng Together 2030 initiative (GGT2030), which responds to a crucial issue of how we can build the Gauteng of our dreams, the kind of society envisioned in the Freedom Charter and our Constitution.

"We are therefore of the conviction that the updated GGT2030 will lead to increased growth in tourism, trade, catering, lodging services, agricultural exports, worker productivity, and key sector competitiveness. Particularly as it emphasises the need for industrial policy enhancements such as industrial financing incentives to stimulate industrialisation and alleviate trade imbalances."

BUSINESS REPORT