SOUTH AFRICA’S ROAD TO RECOVERY STRENGTHENS WITH AMAZON INVESTS IN CAPE TOWN

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

It looks like South Africa’s second most populous city, famous for its beautiful harbor, stunning scenery and diverse beaches, will host the world’s largest online marketplace.

Amazon, a multinational tech company, which focuses on e-commerce, cloud computing, digital streaming and artificial intelligence, is setting up its R4 billion head office in the city.

Amazon’s development design is expected to create a mixed-use space of 150,000 square meters, divided into commercial and residential uses in two neighborhoods. The developer anticipates that 31,900 square meters will be used for residential purposes.

The city said the development will include both affordable and market-oriented housing opportunities. It is expected 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 significantly boost the economy, post-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 boosting investment to revitalize the economy, which is slowly recovering from the impact of Covid-19, ”said city mayor Dan Plato.

Development is expected to be implemented in stages, with construction spanning three to five years.

Amazon’s investment is an important contribution to the South African Reconstruction and Economic Recovery Plan which was announced by President Cyril Ramaphosa ahead of the South Africa Investment Conference in 2020. A claim that Africa South continues to be a premier investment destination for global business investors

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


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