Budget 2023
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Govt working to promote economic growth

Cape Town - Government is working with cities to promote inclusive economic growth. Considerable transformative investment activity is already under way, according to Finance Minister Nhlanhla Nene's mini budget.

• The R20bn Cornubia project in eThekwini will include 25 000 residential units and 1.4 million square metres of commercial space. A 12 hectare commercial hub is under construction and has already been sold.

• The Ekurhuleni metro has secured private investment projects worth over R20bn, including manufacturing and mixed-use facilities.

• In Nelson Mandela Bay, the recent opening of the Baywest mall is likely to encourage greater private investment in surrounding areas.

• Johannesburg is investing R3.5bn in its Corridors of Freedom project between now and 2017/18.

• Buffalo City’s partnership approach in the tourism sector has led to the signing of a 20-year lease for motor racing facilities.

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