SOUTH AFRICA’S ROAD TO RECOVERY GETS A BOOST AS AMAZON INVESTS IN CAPE TOWN

While the city of Cape Town makes progress to rebuild damage to property and many UCT students returning back to the university following displacement caused by wildfires. The city received some positive news on job creation and investment from Amazon, a week after facing a disaster.

It seems that the second most populous city in South Africa, famous for its beautiful harbour, gorgeous scenery and diverse beaches, is set to be home to the world’s largest online marketplace.

Amazon, a multinational technology company, that focuses on e-commerce, cloud computing, digital streaming, and artificial intelligence, is setting up its headquarters worth R4 billion in the city.

The Amazon development design is anticipated to create a 150,000 square metre mixed-use space, divided into commercial and housing uses across two precincts. The developer intends 31,900 square metres to be used for residential purposes.

The city said that the development will include both market-driven and affordable housing opportunities. It is envisaged that 5,239 jobs will be created in the construction phase alone. The project will also create up to 19,000 indirect and induced jobs.

“The planned mixed-use development will be a significant boost to the economy, in the aftermath of Covid-19. It is clear that this development offers many economic, social and environmental benefits for the country and the province. We are committed to driving investment to revitalise the economy, which is slowly recovering following the impact of Covid-19,” said City mayor Dan Plato.

The development is envisaged to be implemented in phases, with construction set to take place over three to five years.

The Amazon investment is an important contribution to the South African Economic Reconstruction and Recovery Plan that was announced by President Cyril Ramaphosa ahead of the SA investment conference in 2020. An affirmation that South Africa continues to be an investment destination of choice for   global business investors

Additional sources; www.businesstech.co.za, www.amazon.com