Government seeking R100 billion in pledges at KZN Investment Conference

THE billions of rand in investment pledges from the private sector will be spread throughout the province to benefit all of KwaZulu-Natal’s residents.

- THAMI MAGUBANE [e-mail]

This is the promise made by the KZN MEC for Economic Development, Tourism and Environmental Affairs (EDTEA), Reverend Musa Zondi, when he spoke to The Mercury on the sidelines of the KwaZulu-Natal Investment Conference in Durban yesterday.

He stated that they had made changes to the structure of the pledges, allowing investors to invest lower amounts, which will enable them to invest across the province and not only concentrate in big cities.

The conference, led by the EDTEA, is expected to attract close to R100 billion in pledges. A gala dinner where the new pledges would be made was expected yesterday evening.

This is the second investment conference under the government of provincial unity. The previous pledges had exceeded R80 billion. The provincial government stated that a bulk of the previous pledges had been actioned into projects that created employment and transformed the lives of the public.