30 November 2023
Africa is home to a young, tech-savvy population – set to reach 2,4 billion people by 2050. With its youthful market and growing internet accessibility, the continent holds immense potential for the future.
Strategically located at the southern tip of Africa, the City of Cape Town is the gateway to this rising continent. Ranked as one of the most beautiful cities in the world, it is more than a playground for tourists. It boasts world-class infrastructure, top universities, an excellent governance record and a commitment to making it easy to do business.
On the ground, Cape Town is supported by Invest Cape Town – a dynamic initiative by the City of Cape Town that aims to cement the city’s status as a high-performance African business hub that champions big ideas and innovation by working with partners from the private sector and all spheres of government.
Together, these characteristics represent a robust network of opportunities, establishing the Mother City as the ultimate location to invest, expand or relocate your thriving business.
Since as far back as the 1400s, Cape Town has been a hub of activity and innovation. But it has also had to contend with episodes of political unrest and environmental challenges that have tested the resilience of the city and its people.
Despite this, Cape Town has invested in its ability to effectively deal with complex challenges to build a more resilient future.
Today, it has a comprehensive resilience strategy in place to ensure it can quickly adapt, innovate and recover from any test that comes its way. What’s more, the city is firmly positioned in the most energy-secure province in South Africa.
When thinking about Cape Town, it’s easy to be swept up in its reputation as a world-class tourist destination. Yet, as South Africa’s second-largest city, it has all the attributes of a prospering, sustainable business destination.
As the engine of the Western Cape’s economy, Cape Town underpins the growth of many flourishing industries, such as agriculture, manufacturing, healthcare, finance and construction, to name a few.
Beyond this, the city is the second-most important contributor to national employment, it has an abundance of natural assets, and its good governance provides a stable business environment.
Recognised as the startup capital of Africa, Cape Town is home to one of the most promising and competitive innovation ecosystems on the continent – bigger than Nairobi and Lagos combined. The city boasts one of the highest-ranked startup ecosystems in Africa, and is placed within the top 150 leading startup ecosystems globally (2023 Global Startup Index).
With impressive internet penetration, structures to assist and encourage entrepreneurship, as well as access to one of the largest fibre networks in Africa, Cape Town sees almost 60% of South Africa’s startups flourish within its borders.
What’s more, the city attracts global interest and tech-savvy entrepreneurs who are leading the advancement of Africa’s digital economy. To date, distinguished businesses such as Amazon, Microsoft and IBM have planted roots in the Mother City.
Cape Town is on track to becoming the green hub of Africa, with commitment to the goal for all buildings to reach net zero for carbon emissions by 2050. Today, the city accounts for most of the local manufacturing for the national renewable-energy programme, cementing it as the destination to watch for green investments.
A gateway to Africa and beyond, Cape Town is a city that offers something for everyone. A hub for innovation. A home for green energy. A hotspot for opportunities.
Around the world there are cities – then there’s Cape Town.
Visit www.investcapetown.com for more information.