KwaZulu-Natal investment conference pledges exceed expectations, reach R100.1 billion
Investment pledges worth a combined R100.1 billion were made at the KZN Investment Conference.
Image: EDTEA KZN / Facebook
Investment pledges made at the KwaZulu-Natal investment conference are a sign of confidence in the recovery and growth of the province’s economy.
That is the view of the provincial government after the pledges exceeded expectations. The pledges surpassed the target by more than R5 billion, reaching a total of R100.1 billion. This amount is R5 billion more than the target and R100 million more than the province had hoped to receive. The province had aimed for R95 billion in investment pledges.
It is expected that these pledges will lead to the creation of close to 260,000 jobs during the construction phase of these projects and more than 60,000 permanent jobs once the projects begin operation.
Projects worth between R100 million and R20 billion are set to be implemented across the province. Among the projects that are set to get off the ground over the next three years is the R20 billion Colenso power project in the Colenso area, which is the largest of the pledges. Other notable investments include a R7 billion energy project in the uMkhanyakude District.
Several property development projects worth between R100 million and more than a billion rand are earmarked for the KwaDukuza and eThekwini Municipality. At least three projects with a value of close to R800 million are earmarked for the Msunduzi Municipality, while a major retailer has pledged more than a billion rand to open stores in many rural municipalities.
Musa Zondi, the MEC for Economic Development, Tourism and Environmental Affairs (EDTEA), said the pledges would have far exceeded the R100.1 billion target. However, he noted that some potential pledgers had held back due to ongoing challenges that might impact their ability to commence projects within the next three years.
“We are over the moon that we have been able to receive these pledges,” said the MEC. “Some of the pledgers wanted to commit last year, but we felt that they were not ready, and we discouraged them. We are happy that today they are ready to hit the ground running and break ground so that there is no delay. We are going to accompany them again to ensure that over the next three years they are able to deliver.”
Speaking on other projects that could have been part of the pledges, he said there were more businesses that wanted to pledge at this year’s conference. “However, when we (EDTEA) applied a stringent lens, it was found that many still had too many obstacles that would take them beyond the three-year timeline to be able to hit the ground running. I advised them not to rush into pledging, as they might not be able to deliver on their promises in three years.”
Premier Thami Ntuli said the pledges for investment commitments are not merely financial transactions; they are declarations of confidence in KwaZulu-Natal’s future. “This partnership is the essential nexus through which innovation, infrastructure, and inclusive development will converge to unlock the full potential of our economy.
“As a government, we are clear that economic renewal cannot be achieved in isolation. The growth of KwaZulu-Natal is intrinsically linked to the strength of collaboration between the state, the business community, and our social partners. It is through this collective effort that we will address structural challenges, expand industrial capacity, and ensure that the benefits of growth reach every corner of our province.
“We therefore regard today’s pledges not only as investments in projects but as investments in people, in ideas, and in a shared vision of prosperity. Together, we are laying the foundation for an economy that is resilient, competitive, and anchored in ethical governance and innovation.”
The Premier stated that what makes this year’s investment pledges particularly significant is their geographic and sectoral spread.