Dynamic and innovative destination
The Western Cape has a sophisticated, diverse and dynamic economy, and is a regional hub for entrepreneurship and innovation.
Globally, the region ranks among the world’s top destinations to visit and is a leader in business, with a thriving knowledge economy; our skills market is growing and the city offers numerous opportunities for work and investment.
Economic growth in the Western Cape is consistently higher than in the rest of South Africa. Thanks to its advanced infrastructure and technology, plus economic incentives and improved air access, this region is positioned as a hub for doing business in Africa or thinking through Africa strategies.
The Western Cape's high-growth sectors are finance and insurance, construction, communication, furniture, film, design, ICT and various marine sectors. Other priority sectors are human and animal medicine, engineering and infrastructure. The region hosts one of the highest concentrations in South Africa of medical device and biotechnology companies, research institutes and research groups.
Cape Town boasts some of the worlds’ top technology companies in medical devices, with products that are considered top of their class, and unique. Agriculture and agribusiness is one of the most important sectors in the Western Cape, and involves all the different activities that link the entire value chain, from the farm/forest/fishery to the consumer. This includes inputs, production, processing, marketing and distribution of agricultural, forestry and fishing products.
Oil and gas is the Western Cape’s fastest-growing sector. The Western Cape and Cape Town are ideally placed to service this growing demand. Most international exploration and oil-refining firms have a presence in Cape Town.
Making it easier to do business
The InvestSA One Stop Shop in the Western Cape is an initiative geared towards giving investors fast-tracked services and red-tape reduction while establishing a business. This facility cuts through red tape and streamlines the investment value chain for medium to large-sized companies looking to invest in South Africa. As an investor you can conveniently access a multitude of government departments, all located in one building. These include SARS, the Department of Trade and Industry, the Department of Labour, the Department of Home Affairs, City of Cape Town and the Red Tape Reduction Unit, among others.