Western Cape agribusiness sector set for growth which will in turn boost tourism
The agribusiness sector is one of the most important components of the Western Cape economy
The Western Cape’s agribusiness sector looks set for growth in the coming years with the province’s trade and investment promotion agency announcing that it has landed committed investments in the sector amounting to R756m. This is expected to create more than 1,400 jobs over the next five years, according to Wesgro’s annual review for the 2017/18 financial year. Wesgro is the province’s trade and investment promotion agency. US- founded Cape Town headquartered Marathon Restaurant Group, recently invested R300m in developing Pizza Hut, fast-casual restaurants in the Western Cape, creating 700 jobs. The agribusiness sector is one of the most important components of the Western Cape economy. It lies at the heart of the region’s ability to drive economic development, contributing billions to the regional GDP, says Wesgro. The region exports 70% of all South African beverages and spirits, and 96% of its wine. Factoring various other investment commitments in key sectors of the local eco...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.