The Western Cape government has invited the private sector to partner with it as it targets a R1-trillion provincial economy by 2035, up from R664-billion in 2024.

At the province’s first ever investment summit, being held in Cape Town this week, Western Cape Premier Alan Winde punted the province’s strong governance principles.

He said the Western Cape government had achieved three consecutive years of unqualified audits across all departments and entities, with 59% of South Africa’s clean-audit municipalities located in the province.

“To every investor here today: invest in the Western Cape. Invest in a province that delivers, that keeps its promises, and that turns potential into performance.

“This is a province that is ready for investment – with world-class infrastructure, strong governance and a proven ability to turn plans into performance.”

Winde also promoted the province’s growth record.

“In 2024, our economy grew by 0.5%, matching the national average. But, over the last decade, the Western Cape has expanded by more than 8%, well ahead of Gauteng and KwaZulu-Natal.

“Of the more than 400 000 total net jobs created across South Africa in the past five years, 360 347 were created right here in the Western Cape.

“With only 12% of the country’s population, our province accounted for 89% of all net job growth. That is extraordinary, and it shows that where investment flows, opportunity follows.”

Winde noted that a R1-trillion economy would need to see the province triple its exports to R450-billion and increase private sector investment to 20% of its GDP.

“It’s ambitious, but we are purposefully ambitious in the Western Cape.”

Winde noted that the province targeted growth in eight growth opportunity sectors – “eight industries where the Western Cape already leads, and where we are now unlocking the next wave of investment and job creation”.

These sectors are technology and digital innovation; green economy and sustainability; agribusiness and food systems; manufacturing and industry; tourism and the experiential economy; property and retail; creative industries; and logistics and warehousing.

Winde said the Western Cape was, for example, Africa’s leading business process outsourcing hub (call centres, typically), capturing 60% of the national market and growing at more than 10% a year.

Also, in aerospace, the province’s exports of aircraft and spacecraft parts had grown by 34% a year since 2020, with one in every five satellites in orbit now containing components made by a Western Cape company.

The Western Cape had also captured 70% of South Africa’s renewable energy component manufacturing, with exports of PV panels into Africa jumping by more than 500% since 2022.

The province is also Africa’s top exporter of agriprocessed products and the Afriplex EU-certified facility in Paarl has already shipped South Africa’s first batch of medicinal cannabis oil to Europe.

The Western Cape’s boatbuilding industry now accounts for 70% of South Africa’s marine manufacturing capacity, ranking second in the world for catamaran production.

In terms of tourism, international arrivals to Cape Town grew by 43% in 2023.

In the property sector, in Cape Town alone, 2024/25 property investment stood at R9-billion.

“Every one of these eight sectors . . . are not just industries – they are opportunities for partnership, innovation and shared prosperity,” said Winde.