INVESTMENT
MEC Alan Winde said that a number of international companies such as ColorMatrix, Amazon, IBM, Harley Davidson and Altech are making the Western Cape their home. Evidently, the Western Cape is becoming a leading business destination for international companies. In terms of share, the number of projects were: • United Kingdom, 15 projects • United States of America, 13 projects • France, 9 projects • Germany, 9 projects • The Netherlands, 6 projects
TOP 3 INVESTMENTS IN THE WESTERN CAPE JP Morgan invests in Zando Taking the cyber world by storm, Zando, Africa’s fastest growing e-commerce retailer and leading online store in South Africa announced an investment by JP Morgan Asset Management in 2012. Zando, established in November 2011 as an eCommerce business enterprise selling high-end fashion products, falls among other dominant players in the online community such as Amazon.com and Kalahari. net. Having worked on two big projects before, co-founders Manuel Koser and Peter Allerstorfer saw a gap for an online fashion store, and so Zando was born from these tenacious and innovative minds. The asset management arm of JP Morgan invested an undisclosed amount into the e-retailer and Koser says: “Attracting such a reputable international investor to support our future growth shows commitment and confidence in our business. This investment will assist the business by supporting its vision and all of its operations.”
LEADERSHIP
The PIC, a public-owned asset manager which ultimately manages the funds of the Government Employees Pension Fund is a particularly favourable beneficiary for the V&A Waterfront, as it represents the interests of millions of ordinary people. The PIC has an asset management value of more than R1 trillion. While, Growthpoint financial results for the year ended show the largest JSE listed property company with an asset base of approximately R53b.
Wesgro secures R1.25b of investment into Western Cape Wesgro, the Western Cape’s investment and trade promotion agency secured a committed investment totaling R1.241b during the 2011/2012 financial year. This investment exceeded Wesgro’s lower band target of R742m, but fell slightly short of the upper band target of R1.409b. CEO Nils Flaatten says Wesgro is responsible for attracting foreign direct investment (FDI) into the Western Cape. In 2011, Wesgro attracted 17.62 percent of FDI into the Western Cape, while in 2010, the total investments accounted for 16.72 percent for that year. The total amount of jobs created or sustained through Wesgro’s intervention were 1 313 which exceeded its lower band target by 77 percent and fell 7 percent short of the upper band target. This was a great improvement as 325 direct jobs were created in 2011 as a result of the organisation’s efforts.
Locals invest in their own – V&A Waterfront In an effort to keep South Africa’s super prime commercial property asset, the V&A Waterfront, in local hands, Growthpoint Properties and the Public Investment Corporation (PIC) both acquired a 50 percent stake. To secure the 50 percent share, both Growthpoint Properties and the PIC had to pay R4.9b respectively to ensure the local ownership of the Western Cape’s most prestigious property. The property was bought from a consortium led by London and Dubai investors who formerly partnered with local BEE investors to secure ownership.
“THE TOTAL AMOUNT OF JOBS CREATED OR SUSTAINED THROUGH WESGRO’S INTERVENTION WERE 1 313 WHICH EXCEEDED ITS LOWER BAND TARGET BY 77 PERCENT AND FELL 7 PERCENT SHORT OF THE UPPER BAND TARGET.”
TOP300 WESTERN CAPE
WC-top investment1.indd 3
2013
95 2013/02/15 4:06 PM