Zykalala meets international investors to rebuild KwaZulu-Natal’s economy

Zykalala meets international investors to rebuild KwaZulu-Natal's economy
  • KwaZulu-Natal Prime Minister Sohail Zikalala is scheduled to meet with the diplomatic corps and international investors on Thursday.
  • It will keep the international community informed and reassure that the boycott is open and ready to act.
  • NSThe agricultural union KZN says the unrest has destroyed 55% of economic activity in rural cities.

The Chief Minister of KwaZulu-Natal, Sehel Zikalala, is scheduled to meet with members of the diplomatic corps and international investors to discuss efforts to rebuild the province in the wake of the recent wave of civil unrest and looting.

The meeting is expected to take place in Gauteng on Thursday in a bid to inform and reassure the international community that the province is ready and open to action.

The looting of shopping malls, hospitals, schools, warehouses, banks, public homes and communications infrastructure in July severely affected the county’s economy.

Read | Unrest: Government says around 150,000 jobs are at risk

The KwaZulu-Natal Agricultural Union (Kwanalu) estimated that the unrest destroyed 55% of economic activity in rural towns, while at least 64% of rural towns experienced severe food shortages.

Zykalala’s message at the two-day meeting will be that the security situation has stabilized and the province is now ready to act.

Read | Workers affected by the disruption can receive up to 1,712 rand per month in government aid

“We will build a solid base of skills and employment,” he said.

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“The medium to long-term response will focus on reassurance, rebuilding, and making sure KZN stands up and unites at the same time.”

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The Prime Minister added that their view was that employment in post-conflict situations is a key factor in achieving short-term stability, social and economic progress and lasting peace.

Read | #Unrest SA: KZN damage cost at least 2 billion rand – Prime Minister Sihle Zikalala

The boycott had “divided the economy” into 15 vital sectors that would revive exports and investment growth. This will breathe new life into the “investment landscape” with 200 projects with the KZN Investment Book.

Spartak looting in New Germany, Durban.

Gallo Images Gallo Images / Darren Stewart

These include: agriculture, agricultural processing, clothing and textiles, transport and logistics (rail, road, air); tourism; ocean economy; creative industries; financing and services; Fourth Industrial Revolution (4IR); ICT and innovation; health innovation and industrialization; industrial development; Informal sector Infrastructure development (water, energy and sanitation); investment and trade; manufacturing (automobile, paper and pulp); Mining and mineral extraction.

Zykalala will meet Inoue from South Korea, the United Kingdom, Mauritius, Australia, the Democratic Republic of the Congo, Singapore, Denmark, Turkey, Egypt, Brazil, the Netherlands and the Federal Republic of Germany.

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