The City of Cape Town has been announced as Africa’s leading digital city, for the innovation and infrastructure it beholds and the contribution it brings to the Western Cape’s GDP.
The City and its partners’ hard work is highlighted in the 2018 State of Cape Town Central City Report which is researched by the Central City Improvement District (CCID).
The City greatly contributes to the province’s GDP
Cape Town’s economic structure also contributes nearly to three-quarters of the GDP in the Western Cape. Several international businesses have set up their trading in Cape Town, contributing up to R5 billion in foreign direct investment into the city.
It also reported that 50% of emerging tech companies in South Africa are based in the Western Cape, with the most being in Cape Town.
The sector gains most of its employees in Cape Town
The City has fast emerged into a tech hub, and reports prove that this sector gains most of its employees from Cape Town. In aims to support innovation, the City has invested R1 billion into the development of a telecommunications channel, to provide network and service to City-owned infrastructure.
“To this end, the city, and the CBD has geared itself to accommodate an emerging digitally savvy population that requires a business environment that offers good broadband connectivity, co-working spaces, accessibility and quality of lifestyle. The City Centre has all of these, and as a recognised digital city, the Cape Town CBD is well placed to support this vibrant new way of working.”
Cape Town: The multi-year telecommunications project
The project is anticipated to be completed in 2020 and has currently connected to 300 City-owned buildings with broadband access.
The City’s Connect Pilot Project, initiated in January 2018 had aims of enabling high-speed fibre connection to 1 000 commercial buildings in the central business district. The Broadband project is a multi-year capital project that will be responsible for the construction of telecommunications infrastructure and systems in the City.
A metro area for a telecommunications network is built, further serving the needs of the residents and businesses in the City.
Cape Town: What does this mean for employment opportunities?
Recorded in the City’s past financial year 4 764 jobs were created and 2 109 people received skills and training. The City’s Strategic Business Partners and Special Purpose Vehicle has injected R2,7 billion to grow investment, job creation and skills development