Top Investment Projects That Promise New Jobs for Mzansi
Job creation is a major priority in light of South Africa’s devastating unemployment statistics. According to President Ramaphosa, South Africa is slowly embarking on an economic recovery plan as investment projects promise new jobs in the country.
Briefly News takes a look at a few investment projects that will contribute towards decreasing unemployment.
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1. Saudi Power company to build R11.6 billion solar tower in South Africa
Absa has signed an agreement with Cape Town Metro Rail to fund a multi-billion-rand project in the country. The project consists of building a solar plant in South Africa amounting to R11.6 billion, headed by ACWA Power of Saudi Arabia.
Source: UGC
The Redstone CSP Project will be constructed in the Northern Cape. According to Shaun Moodley of Absa, the project will generate enough electricity to power about 50 000 homes.
Around 2 000 direct jobs will be created in the construction phase while over 560 jobs will be created once the power plant is operational.
2. R4 Billion Amazon development in Cape Town
The City of Cape Town has approved the concept of a mixed-use development beginning in the next three to five years. The R4 billion 150 000m2 development in Observatory will be predominantly utilised by the US conglomerate Amazon.
Reports state that around 19 000 jobs have been promised to people who are responsible for executing the massive project. Dan Plato, Executive Mayor of Cape Town, said that the development has been approved by the Liesbeek Leisure Properties Trust.
3. Department of Public Works unveils 50 infrastructure projects
Minister of Public Works Patricia De Lille unveiled 50 new infrastructure projects to be spread out across four provinces in South Africa (KwaZulu-Natal, Free State, Limpopo and the Northern Cape), which will make improvements to transport, housing, water and energy infrastructure.
The 50 projects (and an additional 12 special projects) will incorporate some 15 transport infrastructure projects worth R47 billion, which will create upwards of 50 000 new jobs, 11 water and sanitation projects worth R106 billion, which will create over 25 000 new jobs, and 18 human settlement projects worth R138 billion, creating 190b000 jobs.
In addition, two agricultural and agro-processing projects worth R7 billion will create 4 000 job opportunities, the single digital infrastructure project will create more than 700 job opportunities at the cost of R4 billion and the three electricity infrastructure projects, worth R58 billion, will create an additional 6 000 jobs. In total, the 50 projects will cost R360 billion and create a massive 275 700 jobs.
4. SA Steel Mills to build manufacturing plant
The steelwork manufacturer in Gauteng recently pledged R1.5 billion to establish a steel manufacturing plant in Gauteng. The announcement was made by President Cyril Ramaphosa. Although the exact number of possible jobs that this would provide were not revealed, it is clear that there would be a significant number to occupy the various positions in the plant.
5. Dangold Packaging invests in canning plant
Dangold Packaging announces that they will be investing R830 million in a beverage canning plant in Gauteng. Once again, no details about the number of jobs are available but the investment will go a long way.
Source: Depositphotos
The cost implications of installing a canning plant are a challenge. Most plants are being quoted at about R1 million, according to Engineering News.
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Meanwhile, Briefly News previously reported that the Presidency announced that 600 000 jobs have been created under the banner of the presidential employment stimulus.
The plan, announced in October, will see a public investment of R100 billion over the course of the next three years. The plan had come in response to the rising number of unemployed citizens, a situation negatively impacted by the Covid-19 pandemic.
In a statement on the release of a report into the progress of the plan, the Presidency commented that:
"The Presidential Employment Stimulus supports a range of opportunities through the expansion of public employment as well as job retention in vulnerable sectors. In addition to employment opportunities, the stimulus provides crucial support for livelihoods in the creative sector, the agricultural sector and the early childhood development sector."
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Source: Briefly News
