eThekwini Municipality announces a R1.9 billion investment to transform Durban into Africa's leading superyacht destination
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The eThekwini Municipality has taken a massive step to enhance its position as Africa’s premier superyacht destination, announcing a R1.9 billion investment into Durban's burgeoning superyacht infrastructure and refit capabilities.
In a statement on Thursday, the City said a delegation travelled to the Yachting Aftersales and Refit Experience (YARE) conference in Viareggio, Italy, where the highlight of the visit was the ceremonial handover of a Letter of Intent (LOI) between eThekwini Municipality and Navigo, the globally recognised custodians of the YARE programme, which sets the benchmark for superyacht destination development.
"The LOI, formally signed by eThekwini City Manager Musa Mbhele, signals Navigo's commitment to invest over R1.9 billion into Durban's burgeoning superyacht infrastructure and refit capabilities," the City said.
Moreover, this partnership opens doors for the local economy and is expected to create more than 2,500 direct jobs by 2030 across various sectors, including marine engineering, advanced manufacturing, tourism, and refit services.
"Presenting the signed LOI to Navigo's leadership was an honour, marking Durban's unwavering commitment to establishing a world-class superyacht ecosystem," Lungelo Buthelezi, Inner City Regeneration Programme Manager, said.
Nomalanga Sokhela, Maritime Sector Specialist; Vincenzo Poerio, President of YARE; Lungelo Buthelezi, Inner City Regeneration Programme Manager; Katia Balducci, President of Navigo; and Pietro Angelini, General Manager of Navigo, during engagements in Viareggio, Italy.
Image: Supplied
The delegation also extended formal invitations to over 100 superyacht captains and yacht manufacturers to attend the YARE Symposium slated for November in Durban.
Feedback from shipyards and captains gathered at YARE has been tremendously positive, illustrating a growing confidence in Durban’s emerging value proposition.
Navigo’s President, Katia Balducci, said this partnership represents the beginning of a historic chapter for Africa’s participation in the global superyacht industry.
"Durban has the vision, the infrastructure, and the commitment to succeed," she said.
During the visit, strategic discussions were held with senior executives from leading shipyards, paving the way for the city’s proposed superyacht precinct, a 24-hectare site within the Port of Durban specifically designated for refit and servicing operations. This unique offering is expected to attract substantial future investments and foster growth within the local marine sector.
In tandem with these developments, eThekwini Municipality and the Durban University of Technology are advancing plans for Africa’s first Professionalised Superyacht Academy. This initiative aims to equip young South Africans with in-demand skills such as welding, marine engineering, and advanced composites fabrication, ensuring local talent is prepared to take advantage of the new opportunities spurred by this partnership.
As plans move forward, the Municipality is now gearing up for the YARE Symposium in November and detailed preparations for the superyacht precinct, setting a robust groundwork for a prosperous maritime future for Durban.
IOL