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UK envoy explores investment opportunities in SA

Story from: CAJ News Africa

Coega PicBy MTHULISI SIBANDA
JOHANNESBURG, (CAJ News) – THE United Kingdom and South Africa aim to deepen trade and investment relations.
Among the prospects is the Coega Special Economic Zone (SEZ) in the Nelson Mandela Bay.
British High Commissioner to South Africa, Nigel Casey, has toured the facility, whose economic impact he lauded.
“I’m particularly pleased by the number of investors who have taken advantage of this amazing economic zone and made a great success of their investments,” Casey said.
The SEZ currently hosts over 40 operational investors with investment value of about R7 billion (£384,8 million). The success of CDC has enabled the creation of some 102 800 and trained over 92 580 people since inception.
Dr Ayanda Vilakazi, Coega Development Corporation (CDC) Head of Marketing, Brand and Corporate Communications, said the visit by the envoy was meant to explore economic trade and facilitate investment between South Africa and the UK.
This follows Casey’s appointment earlier this year.
South Africa is the largest recipient of British Foreign Direct Investment (FDI) in Africa.
It accounts for 30 percent of the total UK FDI, with the value of £13,1 billion.
The UK is viewed as a historical, strategic trade and investment partner for South Africa and therefore remains a key market.
CAJ News

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