Major investment boost: Development projects worth R1.1 billion set to transform Msunduzi Municipality
The Pietermaritzburg's CBD. There are R1.1 billion worth of investment projects that are expected to start in Msunduzi Municipality next year.
Image: Independent Newspapers Archives
More than a billion rand in investment pledges have been earmarked for infrastructure development projects for the Msunduzi Municipality alone.
If the pledges made at the recent KwaZulu-Natal Investment Conference materialise, the landscape of the KZN Midlands is set to undergo a major transformation in infrastructure and see the creation of 2000 job opportunities.
Msunduzi Municipality secured pledges over R1.1 billion at the conference held in Durban more than a week ago. The combined value of the pledges represents a significant investment for the municipality in recent times.
The investment was welcomed by city councillors; however, they expressed concerns that the nature of investment was concentrated in shopping centres.
The conference broke records, with over R100bn in pledges from businesspeople for projects to be implemented over the next three years. Last year, the investment conference attracted more than R85bn in pledges, with some projects already underway and expected to be completed within three years.
The Msunduzi Municipality stated that the R1.1bn in investment pledges reinforces its position as a growing hub for development and economic opportunity.
The investment projects include:
• Kwa-Mncane Shopping Centre Development – R100 million investment, creating 370 direct and indirect job opportunities.
• Mpumuza Shopping Centre – R140m investment, generating 610 direct and indirect job opportunities in rural Msunduzi.
• City Centre Mall Expansion and New Shopping Centre – R370m investment, creating 770 direct and indirect job opportunities.
• Solar Hybrid Park – R480m investment, creating 250 direct and indirect job opportunities.
Mayor Mzimkhulu Thebolla stated that the conference yielded outstanding outcomes, with Pietermaritzburg recognised under the Secondary Cities Initiative, aimed at boosting infrastructure investment.
“As a result, Msunduzi Municipality successfully secured pledges totalling over R1.1bn, a clear testament to the city’s growth in the development and retail sectors. These investments will not only create more job opportunities but also enhance the city’s competitive edge to attract further investment. Importantly, these developments target both urban and rural growth, ensuring that prosperity is shared across the municipality.
“These developments collectively represent over 2000 new job opportunities, a significant boost to Msunduzi’s economy and its residents. The investments secured at the KwaZulu-Natal Provincial Investment Conference are a strong vote of confidence in the City of Choice. Over R1bn pledged for development is not just an investment in infrastructure; it is an investment in our people, in jobs, and in the future of Msunduzi. These projects will transform both our urban and rural landscapes while driving inclusive economic growth and improving the quality of life for our residents,” said the mayor.
“As a municipality, we are committed to creating an enabling environment for investors, strengthening governance, and accelerating service delivery to unlock the full potential of our city. Msunduzi is open for business, and together we are building a city that grows and thrives,” Thebolla concluded.
DA councillor Douglas Roberts, a member of the finance committee, welcomed the investment, but added that it was worrying that the bulk of the investments were in shopping centres.
“It’s good news; we will see how it goes, but we hope that with so many shopping centres being built, the economy is going to come right because we need people to go to these shopping centres.”
Melanie Veness, of the Pietermaritzburg and Midlands Chamber of Business, said, “We are encouraged by the show of confidence in our province, indicating renewed faith in our leadership and a willingness from the private sector to make meaningful contributions to growing KZN.
“This level of investment will encourage other investors to consider our province, which will allow us to enjoy the benefits of the knock-on effect as well. When these developments are realised, they will have a positive impact on both economic growth and job creation. Some of the pledges made at the conference relate to investments in our local economy, so we will enjoy the concomitant economic benefits.”